Based on the documentary, INSIDE JOB by Charles Ferguson 1. The first part of the movie covers
Question:
Based on the documentary, INSIDE JOB by Charles Ferguson
1. The first part of the movie covers the Savings & Loan Crisis of the 1980's that arose after
deregulation of the Savings & Loan industry. Many of the actors in that crisis were criminally
prosecuted. Nevertheless, by the late 1990's to early 2000's the financial industry had engaged
in numerous activities that fall within the White-Collar Crime studies. Identify the names of
these companies and the activities they engaged in that may be considered white collar
Crimes.
2. The movie describes deregulatory policies that began in the early 1980's. Is there a need for
criminal prosecutions when there are regulatory agencies charged with oversight? Is
regulatory oversight an effective means to control financial fraud and other white collar
crimes? What are the challenges to effective regulatory oversight? Do deregulatory policies
suggest that oversight in the financial sector is unwarranted?
3. The movie characterizes the activities leading up to the financial crisis of 2008 as a "global Ponzi
scheme." Identify potential crimes that could be charged based on the described activity, and
who is eligible to be prosecuted for those crimesindividuals, corporations, or both.
4. If you were a government prosecutor, would you prosecute any of the above, identified in
question 3? What are the challenges to prosecution? In investigating the crimes, what tools
are available to the prosecutor to uncover fraudulent activity? Should the prosecutor use
subpoena power? Search warrants?
5.What defenses might be raised by defense counsel?
6. If government regulators do not step into stop misconduct, then is it appropriate to criminally
charge individuals who engage in that misconduct?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill