It is clear from the documentary and the Times article that it is challenging to bring large groups to justice in the real world. The nation lost billions of dollars in 2008 as a result of the failure of the courts and the legal system to hold accountable the companies and people responsible. First of all, we are aware that some employees of these companies are ready to discuss what happened. They must therefore bring them out in the open so that they can fully disclose everything they knew. Additionally, firms such as Ford and Firestone were aware that their tiles were defective and yet allowed people to use them. Even without prosecution, people will see things for themselves and judge for making comparisons.
Question 2
It is evident that our country is run by politicians and these are the people who are funded by influential individuals in the corporate world. This means the way in which they make their decisions is compromised in an attempt to protect their cronies (Siegel and Christopher 200). However, with Senator Kaufman, it was different because we know that he did not receive campaign money from individuals. Therefore, he had nothing to hide or any person to protect in the process that is why we see him with a very firm stand against the perpetrators of the 2008 crisis. He is different from other elected leaders because most of them receive money from individuals who make their decisions compromised.
Question 3
The reaction between the two parties is apparently different. When powerful bodies have committed a crime, there are some individuals who may never know if the crime was committed. At the same time, powerful actors attract attention all around the states and whatever they do affect a lot of people. Therefore, when they have caused harm to the nation, the government comes out and condemns the act and promises to initiate an investigation which within a short period the matter vanishes. However, with street crimes, no one cares, but justice is served through our court system.
Question 4
The American Dream is vital to every citizen for them to succeed. However, it is not clear the routes they should follow in achieving their dreams. This means that there are other individuals who have taken powerful positions in different corporations who use unscrupulous means to succeed. Therefore, this behavior goes against American values because of the harm to the people whom they are supposed to protect. On the other hand, it is evident that people have shown that there is a possibility of the powerful people who commit crimes they can be prosecuted. This is because the judicial systems have been brought to the light of what they are doing wrong which they need to change.
Question 5
White collar crimes have affected our living standards. This is because when the individuals steal from an organization; the management raises costs of the commodities, in turn, impacting us negatively. Additionally, it is apparent when it goes worse some people lose their jobs even though they did not take part in the entire process (Siegel and Christopher 200) Lastly, this is a situation that makes investors lose faith and withdraw their investments from the nation leaving the state suffering economically. This has made us be prepared ourselves because anything is possible in the corporate world.
Question 6
Another case of white-collar crime was committed by Jordan Ross Belfort who was a stockbroker and was convicted of crimes related to stock market manipulation. He was also responsible for running penny stock boiler room. He brokerage firm employed more than 1000 employees and was liable for losses of $1billion. They work to convince the client to buy stocks that were non-existent.
Question 7
The similarities between these two crimes are that a lot of money is involved. The people who lead these crimes are powerful people in the corporate world who it is difficult to prosecute. Their main aim is to con their clients with an intention that they are providing services that are not there. On the contrary, there are few differences between the two crimes. For instance, it was easier to track these offenders in the past, but lately, it is almost impossible to identify them. This is the main reason why it is difficult to prosecute them due to lack of evidence.
Jordan Belfort: The real Wolf of Wall Street and the men who brought him down: http://www.independent.co.uk/arts-entertainment/films/features/jordan-belfort-the-real-wolf-of-wall-street-and-the-men-who-brought-him-down-9047015.html
Siegel, Larry J., and Christopher Ray McCormick. Criminology in Canada: Theories, patterns, and typologies. Nelson Education, 2010.
