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Ten years have passed since the onset of what is sometimes called the Great Recession. While the economy has slowly improved, there are still millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope. Many people are most likely to have asked at some point: Why are there no bankers in prison as a result of the financial crisis? Who was to blame? Was it simply a result of negligence, of the kind of inordinate risk-taking commonly called a “bubble,” of an imprudent but innocent failure to maintain adequate reserves for a rainy day? Or was it the result, at least in part, of fraudulent practices, of dubious mortgages portrayed as sound risks and packaged into ever more esoteric financial instruments, the fundamental weaknesses of which were intentionally obscured?
In striking contrast with these past prosecutions, not a single high-level executive has been successfully prosecuted in connection with the financial crisis, and given the fact that most of the relevant criminal provisions are governed by a five-year statute of limitations, it appears likely that none will be. It may not be too soon, therefore, to ask why. I do think there is a sense that people are particularly outraged about this form of crime, understandably, because it's generally perpetrated by people who are in a position of economic and social advantage in society; people that are in positions of trust.
I want you to write an essay between 1000-1500 words in length, not to include your abstract, cover page and reference page.
If you refer to your Syllabus you will see the assignment opened on Monday, October 16, 2017and it will close on Sunday, October 22, 2017 @ 11:59 pm.
At a minimum, I would like you to address the following questions:
1. Of all the forms of finance crimes discussed, which do you consider the most serious, and why?
2. Are there any forms of finance crime that you do not think should be considered a crime? If so, why?
3. How should finance crime be punished?
4. Why does finance crime represent an especially potent threat to society?
5. What theory would best represent the crime you have chosen and the individual\s who perpetrated the crime?
6. Does the individual fit the profile of a white collar criminal?
You may select a particular case study to base your essay off of such as Enron, Bernie Madoff, Marc Dreier, AIG, etc…. Upon completion, submit your work in the assignment area.
To achieve a successful experience and outcome, you are expected to meet the following requirements.
1. Written communication: Written communication is free of errors that detract from the overall message.
2. Length of paper: 1000-1500 words
3. APA formatting: Resources and citations are formatted according to APA Style and Formatting (6th Edition)
4. Number of resources: Minimum of 3 resources Use can use your text as one).
Do not use internet references. They need to be more professional and legitimate than a regular website. They also need to relatively recent references as well.
The text book I'm using is: Trusted Criminals
Friedrichs, D.O. (2010) Trusted Criminals, Fourth Ed., Belmont, CA: Thomson-Wadsworth.
Ten years have passed since the onset of what is sometimes called the Great Recession. While the economy has slowly improved, there are still millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope.