White collar crime in a nutshell is lying, cheating and stealing. The term was reportedly coined in 1939 and is synonymous with a full range of Frauds committed by business and government professionals. White collar crime is not a victimless crime; a single scam can destroy a company and devastate vulnerable families by wiping out their life savings, or cost investors billions of dollars. Today's Ponzi frauds have become more sophisticated than before. Edwin Sutherland initially coined the term 'white-collar crime'. White collar crime refers to crimes that are committed by respectable business people during the course of the occupation. Crimes which are considered white-collar include embezzling, price fixing, insider buying, and fraud, falsification of expense accounts and theft of materials. One of the biggest white-collar crimes took place right here in the United States and was ran by Bernard Madoff; he was wall- street most notorious white-collar criminal and he operated the countries if not the world largest Ponzi scheme. A Ponzi scheme is a fraudulent investors operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation. The Ponzi scheme usually entices new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. Perpetuation of the high returns requires an ever-increasing flow of money from new investors to keep the scheme going.
The Ponzi scheme was named after Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Bernard Madoff was definitely America's modern day Ponzi. He came from a middle class family but seem determined to make his mark and make a name for his self.
God, Morality, and Meaning in Cormac McCarthy's The Road Erik J. Wielenberg Cormac McCarthy's novel The Road is, among other things, a meditation on morality, what makes human life meaningful, and the relationship between these things and God. While the novel is rife with religious imagery and ideas...
