[ql06] Re: CRIMINAL: US Corporate Crime
- From: "Ken Campbell" <2kc16@xxxxxxxxxxxxxxxx>
- To: <ql06@xxxxxxxxxxxxx>
- Date: Thu, 20 Nov 2003 19:17:44 -0500
Back on November 05, Steve wrote:
>Ever notice how none of the cases we've looked at so far deal
>with fraud, embezzlement and other white-collar crimes.
[...]
>The following article looks at the lack of statistical data
>on US corporate crime. I'll bet the record-keeping is not
>much better here.
That's a constant problem with business reporting. Getting easy access
to criminal behavior with organizations that have millions in outside
legal fees.
One usually gets a better look into what goes on through the
institutions that are often the enemy in matters of civil liberties and
privacy infringements for social issues -- RCMP, CSIS, FBI, etc.
Like this, from today's newswires...
FEDS CHARGE 47 IN FOREX STING
(Reuters) Federal authorities on Wednesday charged 47
people, netted in a sting operation dubbed "Wooden Nickel,"
who allegedly ran a scam in the foreign currency market
that defrauded retail investors and big Wall Street firms
of millions of dollars. The latest scandal to hit Wall
Street involves charges related to stock and wire fraud,
extortion, kickbacks, rigged trading, money laundering,
guns and cocaine. The Federal Bureau of Investigation's
18-month operation used one undercover agent posing as a
hedge fund manager who operated in the industry and
provided recordings of the suspects.
"One undercover agent."
(You'll find more stories on it in the NYTimes and WSJournal et al.)
Here's a great graphic to read along with the story. Shows the follow of
corrupt funds... and the brave little FBI agent in the bottle neck of
the operation: www.kkc.net/QL06/kickback.pdf Love those kinda charts.
The upper years in QL have courses on corporate crime.
But you are right, Steve, on the disproportionate focus. The mass media
has its reasons for that focus: most people don't find kickbacks
dramatic and interesting.
But why would a student want to use years of law school training,
tapping into great reserves of life energy, spending still more years
entering into the Crown system to do some social good... then end up
working on putting away, say, street prostitutes? When one could use all
that training and energy to enlist in the white collar crime units of
the Crown to go nail these kinds of scofflaw white collar scum?
Ken.
--
Our doubts are traitors, and make us lose the good we oft
might win, by fearing to attempt.
Shakespeare
Measure for Measure
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