The Chickenshit Club

Why the Justice Department Fails to Prosecute Executives

Author: Jesse Eisinger

Publisher: Simon and Schuster

ISBN: 1501121367

Category: Business & Economics

Page: 400

View: 9733

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"Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed Too Big to Fail to almost every large corporation in America--to pharmaceutical companies and auto manufacturers and beyond. [This book]--an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs--explains why"--Amazon.com.
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Hayek: A Collaborative Biography

Part XI: Orwellian Rectifiers, Mises’ ‘Evil Seed' of Christianity and the ‘Free’ Market Welfare State

Author: Robert Leeson

Publisher: Springer

ISBN: 331977428X

Category: Business & Economics

Page: 548

View: 651

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Funded by the tobacco and fossil fuel industries, the Mises- and Hayek-inspired ‘free’ market has adopted ‘The Slogan of Liberty’ - but should their faith-based assertions be accorded the same epistemological status as a science? If Austrian economics is a branch of divinely revealed ‘knowledge’ - as the epigone Godfather, Hans Sennholz, insists - what validity do its policy recommendations have? Should those who falsely claim to have PhDs be tax-funded as ‘Post-Doctoral Fellows’ and ‘Professors’? This volume examines the consequences of the ‘free’ market colonisation of economics – climate change, financial crises and the corruption of academic discourse
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Corporate Crime and Punishment

The Crisis of Underenforcement

Author: John C. Coffee Jr.

Publisher: Berrett-Koehler Publishers

ISBN: 1523088869

Category: Business & Economics

Page: 216

View: 6166

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“Professor Coffee's compelling new approach to holding fraudsters to account is indispensable reading for any lawmaker serious about deterring corporate crime.” —Robert Jackson, former Commissioner, Securities and Exchange Commission In the early 2000s, federal enforcement efforts sent white collar criminals at Enron and WorldCom to prison. But since the 2008 financial collapse, this famously hasn't happened. Corporations have been permitted to enter into deferred prosecution agreements and avoid criminal convictions, in part due to a mistaken assumption that leniency would encourage cooperation and because enforcement agencies don't have the funding or staff to pursue lengthy prosecutions, says distinguished Columbia Law Professor John C. Coffee. “We are moving from a system of justice for organizational crime that mixed carrots and sticks to one that is all carrots and no sticks,” he says. He offers a series of bold proposals for ensuring that corporate malfeasance can once again be punished. For example, he describes incentives that could be offered to both corporate executives to turn in their corporations and to corporations to turn in their executives, allowing prosecutors to play them off against each other. Whistleblowers should be offered cash bounties to come forward because, Coffee writes, “it is easier and cheaper to buy information than seek to discover it in adversarial proceedings.” All federal enforcement agencies should be able to hire outside counsel on a contingency fee basis, which would cost the public nothing and provide access to discovery and litigation expertise the agencies don't have. Through these and other equally controversial ideas, Coffee intends to rebalance the scales of justice.
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