Impact and result of Corporate Crime
There is a growing wave of corporate crime in United States. In his article, “insider trading”, Timothy Clary notes that although insider trading “is as old as markets” recent crime is of magnitude never heard before. He narrates how Raj Rajaratnam has been convicted of one of the worst insider trading. The article goes to great length to expose some of the worst insider cases that have been prosecuted. Out of the 56 cases that have been brought in court, 51 have pleaded guilty. Although the article acknowledges that insider trading is as old as history, the author does not shed light why it is only in the past two years that the government has been serious in dealing with insider traders. This leaves question as to where the government has found impetus to prosecute to prosecute insider traders. Has it been a beneficiary of proceeds of insider trading or didn’t had the will to prosecute?
Sachs, Jeffrey. The Global Economy’s Corporate Crime Wave. Project syndicate. April 30, 2011: n. page. Web 14 Nov< http://www.project-syndicate.org/commentary/sachs177/English