Suchergebnisse

Theft by deception -- "Competition in laxity" -- The most unlikely of heroes -- Keating's unholy war against the bank board -- The Texas control frauds enlist Jim Wright -- "The Faustian bargain" -- The miracles, the massacre, and the speaker's fall -- M. Danny Wall : "child of the senate" -- Final surrender : Wall takes up Neville Chamberlain's umbrella -- It's the things you do know, but aren't so, that cause disasters.

This paper examines the role of white‐collar crime in the savings and loan crisis. Noting economists' assertions that crime was only a minor ingredient in the crisis, we compare the explanatory power of this "minimal fraud" model to that of its "material fraud" alternative. Bringing together evidence from every major study of thrifts in the 1980s, we argue that only the material fraud hypothesis can make sense of these data. This study demonstrates the utility of deductive reasoning in distinguishing between white‐collar crime and ordinary business transactions, thereby potentially contributing to prosecutorial efforts, and helping resolve long‐standing methodological dilemmas confronting white‐collar criminologists.