blog




  • Essay / White Collar Crime and Its Effects on Society

    How can the behaviors of companies like Ford, Firestone, and Wall Street financial institutions be understood as crime, whether or not they were pursued? How do these activities differ from those involved in "typical" street crimes? Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay To be prosecuted for a crime, the prosecution must prove beyond a reasonable doubt that the defense is guilty. The difference between street crime and white collar crime is that it is easy to prove that the perpetrator committed a crime willingly and knowingly, while in white crime cases it is more difficult to prove that the perpetrator committed a crime voluntarily and knowingly, as well as the aspect that white-collar criminals can act more anonymously. In the case of Ford and Firestone, those at greatest risk of being sued are the engineers and chief engineers since they created the vehicle that caused the deaths and accidents, while the top of the hierarchy is able to testify that they did not do so. know with complete certainty the defects of the products. This is the main obstacle when trying to sue senior partners of large corporations and banks, proving that they knew what their employees were doing and encouraged this behavior. Another obstacle facing prosecutions is the size of the business or business being sued. Just like Obama once told General Motors when they were nearly bankrupt, "too big to fail." Most banks and investment companies have too far-reaching roots that, if they were to collapse, they would have a ripple effect on other people. As the documentary says, while the bankers' actions should have sent them to prison for fraud by forging mortgages, because they cannot prove it directly in court, they are therefore not guilty of their actions. As the documentary shows, Senator Kaufman, who led the Senate investigation into Wall Street, was appointed to the position and therefore did not receive campaign donations. How might this have influenced his ability to investigate financial crimes? How does this differ from other elected officials? Having not received financial contributions from donors, Senator Kaufman was not relieved of any burden and was not subject to any limitations or pressure from any outside force to limit the investigation. In the American political system, corporations and individual donors have influence over government officials through the amount of campaign contributions. For example, representatives who received money from the NRA voted against bills that would restrict access to certain weapons. In Senator Kaufman's case, since he did not receive money from a third party, he devoted himself fully to completing the work assigned to him. Many elected officials are worried about their re-election, being in office again next year. To be eligible for re-election, these officials must raise significant funds (usually in the order of a million or more depending on how competitive the elections are) to be able to obtain their seats. While it is important to deliver on voter promises, it is even more imperative to secure well-paid donors. A key aspect of the unique position that Senator Kaufman found himself in is that he expressed his desire not to run for office again, as well as his loyalty and commitment to investigating those responsible forthe Wall Street affair. Thanks to these factors, Senator Kaufman was able to gain ground on his case, whereas if another senator were to be given the same responsibility, he might not have made the slightest effort due to pressure from his donors. The response to harm caused by powerful actors (i.e., the criminal justice system, the media, and the public) differs from the social response to “street crime.” To answer this question, it is important to understand two fundamental principles: aspects that are lacking in street crime and are present in white-collar crime, namely authority and influence. The notion of street crime is associated with people who are poorly educated and/or part of a minority group, while white-collar crime is associated with white men who have a high and extensive education and who are truly apologetic about their actions. Street crime can be identified and proven. Normal street crime ranges from stealing a wallet or purse to murder and battery. It portrays a more horrible idea in the public and in the media because it directly affects another individual, which is why the justice system imposes harsher sentences on offenders. Whereas in the case of white-collar crime, the perpetrator rather harms the individuals financially. Because those who commit white-collar crimes are influential actors, they have the ability to influence the media further than an ordinary person. However, a key difference that permeates these two types of crimes is how the media portrays individuals: those arrested for committing white-collar crimes are eager to find a motive behind their actions, the media searches for the how and the why. While those who commit street crimes, the media attributes their reasons to race, socioeconomic status, or other factors. How might American cultural values ​​(e.g., the American Dream) contribute to the perpetration of white-collar crime? To what extent might these behaviors actually go against American values? How has cultural tolerance toward white-collar workers changed in the past 10 years since the events described in both sources? The values ​​of the American people are oriented towards achieving a high standard of living, a high economic level and progression through the socio-economic strata. . The idea of ​​moving up to a higher economic class at all costs is the basis of the American dream as well as the primary motivation for white-collar crime. Even in Vanderbilt's time a century ago, the concept of white-collar crime was still in its infancy and thus fraudulent activities committed against Vanderbilt were not considered illegal at the time. As previously established, American values ​​are aligned with innovation, hard work, and perseverance. The behaviors of those who commit fraudulent activities to obtain more capital at the expense of the public go against all notions of hard work and perseverance. They use the simplest route to cripple individuals and families in order to further exploit the system and the average citizen who works hard to live a fulfilling life. Since the fall of Wall Street, there has been a trend toward punishing more people involved in scandals of this magnitude. However, even though the general public has lost its credibility in big business, the justice system still finds itself in the same bind it was in. ten years ago. Wall Street still has power and influence over politicians and others.