Deviance+Enron+2011

Deviance+Enron+2011 - WHITE COLLAR CRIME • High profits...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Film “Beyond Enron” Sept 27, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ENRON They used a unique bookkeeping system to look like they were making money when they were actually lending money to themselves Jeff Skilling and Ken Lay – defense summarized as the “we did nothing wrong” defense and the “I didn’t know” defense Jeff Skilling CEO sentenced to more than 24 years in prison, plus 50 million in restitution to employees, on 19 counts of fraud, conspiracy, insider trading, lying to auditors Andy Fastow CFO 109 felony counts, 10 yrs
Background image of page 2
SOCIAL CAUSES OF WHITE COLLAR CRIME We value wealth as The form of success Culture of competition : get-rich-quick, boost the stock prices, “culture of corruption” Individualism: self-interest Vocabulary of motives : justifications
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
INSTITUTIONAL CAUSES OF
Background image of page 4
Background image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: WHITE COLLAR CRIME • High profits achievable • Expert knowledge required, others don’t know what you’re doing • Keep costs low—dumping, unsafe working conditions • Skewed risk factor – little risk and high reward, people don’t understand what you’ve done wrong • “status shield”=education and prestige protects WHITE COLLAR CRIME MORE HARFUL THAN STREET CRIMES • Environmental and human harms • Economic costs – at least $419 Billion per year (24x more than property crimes) – Fraud makes healthcare more expensive, more money goes to corporate welfare, bailouts • Social costs – cynicism and distrust, delegitimize politics and less people vote, why work hard when stealing is successful?...
View Full Document

This document was uploaded on 10/27/2011 for the course SOCIOLOGY 304 at Rutgers.

Page1 / 5

Deviance+Enron+2011 - WHITE COLLAR CRIME • High profits...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online