“Truth or Consequences” could have been a hit rerun this past week. Remember the old black-and-white television game show, but this time it’s live before our very eyes – and in color.

First, businesswoman extraordinaire Martha Stewart was indicted on federal charges because she reportedly saved $45,000 by selling shares of ImClone before the stock went down, down, down. Like Jack and Jill, except Jack, her stockbroker, also was indicted and Jill came tumbling after.

Now, you’ll recall that Stewart – who was a billionaire during the 1990s and didn’t need the extra money except for, perhaps, greed – wasn’t indicted on more serious charges of insider trading. (Her lawyer maintains that Stewart has been targeted because of her mighty success … in a man’s business world.) Rather, she is accused of lying to the FBI, lying to the Securities Exchange Commission and to investors.

“This criminal case is about lying,” U.S. Attorney James Comey said in news reports. “That is conduct that will not be tolerated.”

Jumping Jehoshaphat. Someone indicted on criminal charges for lying?

Preposterous, incredible, we say. Sure, there used to be this television game where you told the truth or there would be consequences, but not in everyday life. Get real, we say. We, who are wondering what happened to good old Enron’s Kenneth Lay or WorldCom’s Bernie Ebbers or any other CEO whose stock options weren’t expensed, or any other money-minded-maniac who lied, bilked, succeeded … and retired.

Maybe Martha Stewart is paying come collective consequences of not telling the truth. Lots of people have fibbed and regretted their fabrications. Past presidents certainly have; maybe present presidents eventually will.

Regardless … truth or consequences seems to be the new game in town, for those who are keeping tabs on such activity.

To date, the flagship of quality journalism, The New York Times, has lost its top editors – and much of its esteem – because of truth or consequences. Because of one reporter’s fiction presented as fact, and another reporter’s fact not credited to others, the legendary newspaper has suffered both internal and external wounds that will require months, if not years, of recovery.

Truth or consequences: played locally or far afield, played socially or politically, played for money or merely for mirth. Apparently, it’s not a game without rules. In fact, maybe it isn’t even a game.