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Trajectory of White-Collar Crime Following the Great Economic Meltdown

NCJ Number
Journal of Contemporary Criminal Justice Volume: 30 Issue: 1 Dated: February 2014 Pages: 70-82
Henry N. Pontell; Gilbert Geis
Date Published
February 2014
13 pages

This article reviews issues in white-collar crime research related to both the causes and aftermath of the 2008 economic meltdown.


The absence of major prosecutions, new legislation designed to prevent similar debacles, and post-meltdown case studies are discussed to illuminate the culture and business practices of major companies that were responsible for the unprecedented losses to the financial system and the resulting taxpayer bailout. The authors conclude that despite new legislation, regulatory gaps and continued lack of adequate oversight as a result of intense lobbying by the financial industry, as well as a non-understanding of the role of fraud in major financial debacles by policymakers, virtually guarantee that future financial crises will occur due to fraud, even in the most elite firms. Abstract published by arrangement with Sage Journals.