Prosections of bankers for financial fraud have dropped by over 50% since 1999, when there were over 3,000 prosecutions to under 1,500 last year.They have dropped every year since then. As a result, shareholders and investors end up paying for reparations through civil cases. In other words, white collar crime was privatized during George W. Bush's Presidency. This not only destroys confidence in the market; it also creates social tension that can destroy communities.
http://www.cbsnews.com/8301-505123_162-57327688/bank-prosecutions-drop-as-bank-failures-rise/
The Occupy Wall Street Protests that started in September 2011 & and then spread across the nation have highlighted ongoing problems of massive unemployment & income inequality in the U.S. Elected officials, various members of the news media, & even a few of my own friends have mocked this movement. I believe that it is possible to find a different story for every day of the year that answers "Why They Occupy".
Showing posts with label White Collar Crime. Show all posts
Showing posts with label White Collar Crime. Show all posts
Wednesday, November 23, 2011
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