Theft of a Nation Wall Street Looting and Federal Regulatory Colluding

by Barak, Gregg

• ISBN13: 9781442207783
• ISBN10: 1442207787
• Format: Hardcover
• Copyright: 2012-08-02
• Publisher: Rowman & Littlefield Publishers

Summary

Theft of a Nation presents a powerful criminological examination of Wall Street's recent financial meltdown and its profound impact on the rest of the country. This provocative book asks why, if the actions of key players on Wall Street and in the government resulted in an economic downturn that harmed millions of Americans and destroyed capital worldwide, no one was held criminally liable for these actions.Author Gregg Barak provides a basic history of financial regulation and deregulation, as well as a primer on both securities fraud and mass victimization. Using key concepts in victimology and white collar crime, he explores the diverse ways civil and criminal law enforcement responded to the damaging behavior on Wall Street. The book also assesses Wall Street Financial Reform and the Consumer Protection Act of 2010, showing the ways that Americans may still be at risk.Theft of a Nation is the first comprehensive criminological investigation of the role of Wall Street and the government in the recent financial crisis, asking critical questions about who has been victimized and why.

Author Biography

Gregg Barak is professor of criminal justice and criminology at Eastern Michigan University. He is author or coauthor of several books, including Class. Race, Gender, and Crime. The Social Realities of Justice in America, now in its third edition.

Table of Contents

Acknowledgments	p. xi
Introduction	p. 1
Law, Power, and Wealth: On the Rhetoric and Reality of Fighting Financial Abuse	p. 9
Bernie MadoffÆs Ponzi Scheme and Wall Street's Financial Meltdown: A Primer on Investment Fraud and Victimization	p. 23
Unenlightened Self-Interest, Unregulated Financial Markets, and Unfettered Victimization: From the Savings and Loan Bailouts to Too Big to Fail	p. 39
Theories of White-Collar Illegalities and the Crimes of the Powerful: A Reciprocal Approach to the Political Economy of Wall Street Looting and Federal Regulatory Colluding	p. 63
Financial Looting, Victimization, and Legal Intervention: On Criminal Prosecution and Civil Law Enforcement	p. 91
Consuming Victims and Victimless Identities: On the Social Construction of Victimization and the Re-emergence of Public Victims	p. 115
The Wall Street Financial Reform and Consumer Protection Act of 2010: A Synopsis of Dodd-Frank and the Re-regulation of Financial Abuse	p. 133
Conclusion	p. 151
Postscript	p. 167
Notes	p. 169
Glossary	p. 197
Subject Index	p. 201
Name Index	p. 205
About the Author	p. 213
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