- The Oxford Handbooks in Criminology and Criminal Justice
- The Oxford Handbook of White-Collar Crime
- Core Themes in the Study of White-Collar Crime
- The Roots and Variant Definitions of the Concept of “White-Collar Crime”
- Theoretical, Empirical, and Policy Implications of Alternative Definitions of “White-Collar Crime”: “Trivializing the Lunatic Crime Rate”
- What Is Known and What Should Be Known About White-Collar Crime Victimization?
- The Costs of White-Collar Crime
- Who Commits White-Collar Crime, and What Do We Know About Them?
- White-Collar Criminals: Ethnographic Portraits of Their Identities and Decision Making
- The Pool of Potential White-Collar Criminals: Whence?
- Middle-Class Crime: Moral Economies Between Crime in the Streets and Crime in the Suites
- Gender Constructions
- Adolescent Precursors of White-Collar Crime
- White-Collar Criminal Participation and the Life Course
- Developmental Perspectives on White-Collar Criminality
- White-Collar Crimes of the Financial Crisis
- Organizational Political Economy and White-Collar Crime
- Economic Fluctuations and Crises
- Cultural Variation
- Criminal Decision Making in Organizational Contexts
- Opportunities for White-Collar Crime
- Employee Theft
- Criminogenic Organizational Properties and Dynamics
- Organizational Self-Restraint
- Oversight and Rule Making as Political Conflict
- Regulation: From Traditional to Cooperative
- Comparing Assumptions Underlying Regulatory Inspection Strategies: Implications for Oversight Policy
- The Credibility of Oversight and Aggregate Rates of White-Collar Crime
- Investigating and Prosecuting White-Collar Criminals
- Sentencing Respectable Offenders
- Effects on White-Collar Defendants of Criminal Justice Attention and Sanctions
- White-Collar Crime and Perceptual Deterrence
- The Practical Challenges of Responding to Corporate Crime
- Public Opinion and Public Policy on White-Collar Crime
Abstract and Keywords
Government regulation and oversight is essential for a healthy market economy to function properly. Financial markets cannot self-regulate; this thesis has been consistently supported throughout U.S. history. Periods of lax regulatory oversight of the financial industry invite white-collar crime, culminating in widening financial disasters. Legislation, such as Dodd-Frank, repairing market stability responsive to financial scandals has been repealed or systemically weakened. Wall Street elites influence both elected officials and regulatory agencies to undermine regulation and enforcement. Powerful special interests engage in rent-seeking with Congress by promoting ideologies of deregulation and dominate any oversight legislation that is passed. Regulatory agencies charged with oversight are frequently subject to capture by the very corporations they are tasked with policing. This chapter identifies solutions such as breaking up too-big-to-fail corporations, scrutinizing the revolving-door culture, and implementing efficient civil and criminal enforcement mechanisms to avert financial crisis by creating meaningful oversight and enforcement.
Mary Kreiner Ramirez, JD, is Professor of Law at Washburn University School of Law.
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