Relevant:
- Teaching White-Collar Crime
- William K. Black: 'Pervasive' Fraud by Our 'Most Reputable' Banks
- The Fed Will Make Your Mortgage Cheaper, But Someone Has To Make It Harder To Get
- The JOBS Act Is So Criminogenic That It Guarantees Full-Time Jobs for Criminologists
- Bill Black: "Our System Is So Flawed That Fraud Is Mathematically Guaranteed"
2013-07-15 — peakprosperity.com
If you can steal with impunity, as soon as you devastate regulation, you devastate the ability to prosecute. And as soon as that happens, in our jargon, in criminology, you make it a criminogenic environment. It just means an environment where the incentives are so perverse that they are going to produce widespread crime. In this context, it is going to be widespread accounting control fraud. And we see how few ethical restraints remain in the most elite banks.
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