In an editorial, the New York Times faults Paul Ryan and Mitt Romney for meeting, with no reporters allowed, with Sheldon Adelson, the CEO of Las Vegas Sands. The Times refers to "the issues swirling about Mr. Adelson's business practices," as well as a fine imposed by Chinese regulators on the company for violating foreign exchange rules. The editorial faults Mr. Ryan and Mr. Romney for "allowing Mr. Adelson to have such an outsize role in their race," as if it is within their control how Mr. Adelson or his wife choose to spend their money.

Let's compare how the Times editorialists treat the Ryan-Romney-Adelson relationship— example number one—with how they have treated some other relationships between businessmen and politicians.

Example number two: Robert Wolf of UBS. Mr. Wolf, chairman and CEO of UBS Americas, reportedly raised at least $500,000 for Mr. Obama in 2008 and will do so again this cycle. He plays golf and basketball with the president, also with no reporters allowed, has been a guest at White House state dinners, and, as the Wall Street Journal put it, "frequently attended White House meetings about the worsening financial crisis and contributed to discussions of the administration's subsequent plans for recovery."

Here is UBS's record, according to a recent Times column that did not mention the Wolf-Obama connection (Wolf recently announced he was leaving UBS):

UBS obtained a deferred prosecution agreement in 2009 for conspiring to defraud the United States of tax revenue by creating more than 17,000 secret Swiss accounts for United States taxpayers who failed to declare income and committed tax fraud. UBS bankers trolled for wealthy clients susceptible to tax evasion schemes at professional tennis matches, polo tournaments and celebrity events. One UBS banker smuggled diamonds in a toothpaste tube to accommodate a client. In return for the deferred prosecution agreement, UBS agreed to pay $780 million in fines and penalties and disclose the identities of many of its United States clients. At the same time it settled Securities and Exchange Commission charges that it acted as an unregistered broker-dealer and investment adviser to American clients and paid a $200 million fine. In October 2010 the government dropped the charges, saying UBS had fully complied with its obligations under the agreement.