Corporate Crime And Its Effects On Society Essay

980 Words Nov 16th, 2016 4 Pages
Corporate crime inflicts far more damage on society than all street crime combined. Whether if it’s contributed by injuries, death, or financial lost, corporate crime and violence wins by landslide. The FBI reported that burglary and robbery from street crimes cost the nation an estimate of 3.8 billion a year. In comparison to corporate fraud, it’s a drop in a bucket. The losses from major corporate frauds, such as Enron “swamp the losses from all street robberies and burglaries combined.” (Mokhiber, 2007) Furthermore, leaving victims and their families subjected to their recklessness and for some nowhere to turn. The deadly consequences of this weaponless crime is shocking and horrific. The wealthiest Americans not only steal more wealth through white collar crimes, but their crimes also lead to more deaths. In 1985, Enron was established following the merger between Houston Natural Gas Co. and Omaha based InterNorth Inc. By the end of 1990 the company flourished and NASDAQ hit 5,000, along with groundbreaking internet stocks valued at outrageous levels. Most investors and regulators accepted the increase in share prices as the new normal, allowing the company to sky rocket to billions. Enron created an electronic trading website that focused on commodities and was the counterparty to every transaction on EOL. This enticed participants and trading partners enough that Enron was praised for its expansions and ambitious projects. They were named as America’s Most…

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