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TREAT THE FINANCIAL CRISIS AS A CRIME STORY

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Message Danny Schechter

"The white-collar criminal has no legal constraints. You subpoena documents, we destroy documents; you subpoena witnesses, we lie. So you are at a disadvantage when it comes to the white-collar criminal. In effect, we're economic predators. We're serial economic predators. We impose a collective harm on society."


Moreover, he said many "legitimate" businessmen are, at heart, opportunists and will break the law when they think they can get away with it or when they are feeling pressure to drive up revenues.


What are some of the crimes they commit?


"¢ Fraud and control frauds. Control frauds start at the top with CEOs seizing control of their companies from Boards and then driving up share values with speculative investments while increasing their own compensation and bonuses.


"¢ Insider trading


"¢ Theft and conspiracy


"¢ Misrepresentation


"¢ Ponzi schemes


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News Dissector Danny Schechter is blogger in chief at Mediachannel.Org He is the author of PLUNDER: Investigating Our Economic Calamity (Cosimo Books) available at Amazon.com. See Newsdisssector.org/store.htm.
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