Corporate Crime in America

Corporate Crime in America

(MG) The following information about corporate crime comes from Russell Mokhiber's Corporate Crime Reporter web site. It is almost enough to give one pause, especially when thinking about what entities really decide which candidates the parties will run for the office of POTUS.

Number 20

Corporate crime inflicts far more damage on society than all street crime combined.

Whether in bodies or injuries or dollars lost, corporate crime and violence wins by a landslide.

The FBI estimates, for example, that burglary and robbery – street crimes – costs the nation $3.8 billion a year.

The losses from a handful of major corporate frauds – Tyco, Adelphia, Worldcom, Enron – swamp the losses from all street robberies and burglaries combined.

Health care fraud alone costs Americans $100 billion to $400 billion a year.

The savings and loan fraud – which former Attorney General Dick Thornburgh called "the biggest white collar swindle in history" – cost us anywhere from $300 billion to $500 billion.

And then you have your lesser frauds: auto repair fraud, $40 billion a year, securities fraud, $15 billion a year – and on down the list.

Number 19

Corporate crime is often violent crime.

Recite this list of corporate frauds and people will immediately say to you: but you can't compare street crime and corporate crime – corporate crime is not violent crime.

Not true.

Corporate crime is often violent crime.

The FBI estimates that, 16,000 Americans are murdered every year.

Compare this to the 56,000 Americans who die every year on the job or from occupational diseases such as black lung and asbestosis and the tens of thousands of other Americans who fall victim to the silent violence of pollution, contaminated foods, hazardous consumer products, and hospital malpractice.

These deaths are often the result of criminal recklessness. Yet, they are rarely prosecuted as homicides or as criminal violations of federal laws.

Number 18

Corporate criminals are the only criminal class in the United States that have the power to define the laws under which they live.

The mafia, no.

The gangstas, no.

The street thugs, no.

But the corporate criminal lobby, yes. They have marinated Washington – from the White House to the Congress to K Street – with their largesse. And out the other end come the laws they can live with. They still violate their own rules with impunity. But they make sure the laws are kept within reasonable bounds.

Exhibit A – the automobile industry.

Over the past 30 years, the industry has worked its will on Congress to block legislation that would impose criminal sanctions on knowing and willful violations of the federal auto safety laws. Today, with very narrow exceptions, if an auto company is caught violating the law, only a civil fine is imposed.

Posted by Mark Ganzer at 5:31 PM