Crime and the American Dream [ Chapter 1 and 2 ]
[Ch1] By March of 2009 70 year old Bernard L. “Bernie” Madoff was sentenced to prison for 150 years for transferring money to international banks illegally. Madoff had ripped off the life of thousand of people through a Ponzi Scheme. What is a Ponzi scheme? It was named after Charles Ponzi, who made this scam popular. This scam was based on attracting investors with the agreement of big returns. They also promised investors to return their money as soon as they get money from other investors. A lot of people quickly sense that, this business is not something they wanted to invest their money into. So, for that reason Ponzi did not make a profit and collapse in less than …show more content…
What are we all seeking? We all want to achieve that American Dream. United States is one of those countries where people desire instant gratification. Everybody wants everything right now because that 's how our media and our mass culture wants us to think. Not only the citizens and residents of the United States want to live up to the American dream, but most of the world wants to experience this American dream where everything is fulfilled with, wealth, health, security and pleasure. I moved out to the United States six years ago and all my friends and relatives thought that I am lucky because I will be achieving the American Dream. Living here for half a decade I have not seen many people who are satisfied with what they …show more content…
What is a white collar crime? As “Edwin Sutherland” explains it as, a crime committed by a person of respectability and high social status in the course of his occupation. It is one of the growing crime around the world. In London people were asked to participate in a survey on question ”have you padded an insurance claim,paid cash to avoid tax”? Sixty percent of people admitted that they have done it. Same survey in Germany was 10 percent higher than England. In the United States white collar crime costs 250 billion dollars a year, which is higher than any street
[Ch1] By March of 2009 70 year old Bernard L. “Bernie” Madoff was sentenced to prison for 150 years for transferring money to international banks illegally. Madoff had ripped off the life of thousand of people through a Ponzi Scheme. What is a Ponzi scheme? It was named after Charles Ponzi, who made this scam popular. This scam was based on attracting investors with the agreement of big returns. They also promised investors to return their money as soon as they get money from other investors. A lot of people quickly sense that, this business is not something they wanted to invest their money into. So, for that reason Ponzi did not make a profit and collapse in less than …show more content…
What are we all seeking? We all want to achieve that American Dream. United States is one of those countries where people desire instant gratification. Everybody wants everything right now because that 's how our media and our mass culture wants us to think. Not only the citizens and residents of the United States want to live up to the American dream, but most of the world wants to experience this American dream where everything is fulfilled with, wealth, health, security and pleasure. I moved out to the United States six years ago and all my friends and relatives thought that I am lucky because I will be achieving the American Dream. Living here for half a decade I have not seen many people who are satisfied with what they …show more content…
What is a white collar crime? As “Edwin Sutherland” explains it as, a crime committed by a person of respectability and high social status in the course of his occupation. It is one of the growing crime around the world. In London people were asked to participate in a survey on question ”have you padded an insurance claim,paid cash to avoid tax”? Sixty percent of people admitted that they have done it. Same survey in Germany was 10 percent higher than England. In the United States white collar crime costs 250 billion dollars a year, which is higher than any street