The Tragedy of White-Collar Crime Essay examples

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The years 2008 shined a light on a group of people who were considered high society. When the stock market crashed in September 2008, the world shines a spotlight on the financial corporation. Words such as hedge fund manager and financial instrument such as credit default swaps are not words not known to everyday citizens. The economic downturn forced society to ask question not normally asked.
The reality that there are criminal who has assessed too many people retirement and investment is a shocking and alarming to the non-professional investor. When someone is in a legitimate occupation and committing, an illegal act is a white-collar crime. “To be more concise white - collar crime is define as any illegal act, punishable
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Truth in Lending Act or Consumer Credit Protection Act is a law established to promote informed use of consumer credit by disclosures about terms and interests.
The Act further governs certain credit transaction such as lien credit card and mortgage loans. (FDIC.gov). The False Claim Act protect consumer from companies who knowingly submit, or cause another person or entity to submit, false claim for payment of government funds. (www. taf.org) “The Federal Food, Drug Act prevent companies from manufacturing, sale, or transportation of adulterated or misbranded or poisonous or deleterious foods, drugs, medicines, and liquors and for regulating traffic therein, and for other purposes”(fda.gov).
Many of these regulatory agencies have been under attack by special interest groups who want less oversight in their business endeavors. However, less oversight is one way that white-collar crimes are overlook. For example, during the 2008 economical downturn, the veil was lifted off the business practices of many of the Wall Street banks and hedge funds companies. The next section of this paper will examine the impact the white-collar crimes have on society and how it differentiates from other types of crimes. White-collar crime can and many times do affect society in a…

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