The Coming Corporate "Crime Wave"

In a recent appearance before Congress, Deputy Attorney General Sally Quillian Yates declared that the US Department of Justice is going to ratchet up its prosecution of individuals employed in corporations as part of a larger push against “white collar crime.” There is no doubt that such prosecutions will be very popular to a large section of voters, given that presidential candidates like Bernie Sanders, Hillary Clinton, and Martin O’Malley, along with Massachusetts Senator Elizabeth Warren pretty much have declared thatnearly all American businesses are part of a massive criminal conspiracy that must be brought down by federal authorities.

Within the next year, we should expect to see mid-level business and finance executives doing “perp walks” in front of the news media, as federal prosecutors will charge them with various “economic crimes” in hopes that they will implicate their superiors.All of us by now know the drill and in a time of anemic economic growth complete with business failures, it won’t be hard to find scapegoats.

Everyone Is “Guilty”

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