The golden age of white-collar crime


Over the last two years, it is so hard to look into any Institution of American Life and not find an atom of gradual looting being perpetrated by elites. The criminal justice system has exhibited less seriousness in fighting the white-collar prosecutions, this was asserted by the records of the Justice Department as criminal penalties levied by it drastically fell from $3.6 billion to roughly $110 million since 2015. The Offshore Alert conference which takes place at Miami each spring has become an avenue for government agents to source for who to milk while tax lawyers also take the conference as a normal outing. Agencies responsible for investigating elite and white-collar crime have been relegated in their responsibilities as funding keeps reducing and worst of it, the Congress always moved in to quash regulators efforts anytime their investigations exposed the government’s inadequacy. A University of Michigan don, Will Thomas said judges nowadays are willing to disregard the aftermath of their verdicts in favour of resolving obscure procedural ambiguities. Almost every criminological research indicates that crime rates depend more on environments and incentives than the intrinsic morality of offenders. That’s because criminologists have consistently discovered that increasing the likelihood of punishment works better than increasing its severity. Harsh penalties may make offenders resentful for being singled out for something everyone else was doing and the low probability of getting apprehended twice encouraged them to increase their lawbreaking to catch up with their competitors.