White-Collar Crime, No Punishment
Even if the latest scandals in banking reveal nothing new about the financial industry's ethical standards, they have put a spotlight on a bigger emerging problem: the complicity of law enforcement agencies in white-collar crime. The watchdogs are not only shirking their duties; they have joined the other side.
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NEW YORK – Although the proper role of government in society is much debated, few would dispute that law enforcement falls within the state’s remit. But governments have increasingly turned a blind eye to enforcing the laws against the world’s most lucrative crimes: the fraud, embezzlement, tax evasion, bribery, and money laundering committed by the well-heeled.