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Thursday, September 15, 2011

Speaking of the rich getting richer! ...

In an outrageous white-collar crime, one man--a single man--cost his company $2 BILLION in losses. He did this by committing widespread fraud, a form of theft where people are tricked or deceived out of their money.

To put this in perspective, let's say a criminal wanted to make $2 billion by robbing banks.

If he could gain $10,000 per robbery, he'd have to rob 200,000 banks!
If he could gain $100,000 per robbery, he'd have to rob 20,000 banks!
And If he could gain $1 million per robbery (impossible), he'd have to rob 2,000 banks!

Criminologists have long said that the reason rich people don't rob banks is because they own the banks. This case proves it.

In spite of its enormous losses, the company says: "While the news is distressing, it will not change the fundamental strength of our firm."

Why not?

Because they will recoup those losses by firing 3,500 employees!

That's the reality of white-collar crime.

Not only does it cost us far more than all street crimes combined, innocent people who have nothing to do with it also suffer.

When will we start treating white-collar criminals like real criminals?

1 comment:

  1. At least he has been charged with a crime. We have to wake up here in America and realize it is not just business. Some of business activities are criminal.

    I saw a few protests over the weekend against corporate crime. This recession may focus people's attention to corporate or white-collar crime. Legislators will hopefully take note and begin looking at stronger legislation involving big business.