Seoul Tries To Make Web Prophet Log Off
Park Dae-sung, the offending blogger, is not an economist by training but a lay commentator. Based on what he read in mail-order books and on financial Web sites, he posted entries online under the pen name of "Minerva," saying that the won would weaken to 1,400 against the dollar and that Lehman Brothers Holdings (other-otc: LEHMQ - news - people ) would collapse shortly before it in fact did. He also stridently criticized the government's handling of the economy.
The Seoul Central District Court issued Park's arrest warrant Saturday on charges of spreading false information on the Internet with the intent to harm the public interest. Judge Kim Yong-sang stated, "there is a need to arrest him, given the severity of the matter, as the case seriously affected the foreign exchange market and the nation's sovereign ratings."
"I posted my writing in a bid to help small business operators and ordinary citizens who sustained damage following the Asian financial crisis and who are alienated from government policies,'' Park told the press after the court hearing.
Wow obviously Bernie Madeoff isn't dangerous compared to a guy like this.
So much for freedom of expression.