Theft of a Nation: Wall Street Looting and Federal Regulatory Colluding

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Rowman & Littlefield, 2012 - Social Science - 213 pages
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Theft of a Nation presents a powerful criminological examination of Wall Street's recent financial meltdown and its profound impact on the rest of the country. This provocative book asks why, if the actions of key players on Wall Street and in the government resulted in an economic downturn that harmed millions of Americans and destroyed capital worldwide, no one was held criminally liable for these actions. Author Gregg Barak provides a basic history of financial regulation and deregulation, as well as a primer on both securities fraud and mass victimization. Using key concepts in victimology and white collar crime, he explores the diverse ways civil and criminal law enforcement responded to the damaging behavior on Wall Street. The book also assesses Wall Street Financial Reform and the Consumer Protection Act of 2010, showing the ways that Americans may still be at risk. Theft of a Nation is the first comprehensive criminological investigation of the role of Wall Street and the government in the recent financial crisis, asking critical questions about who has been victimized and why.
 

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Contents

Introduction
1
On the Rhetoric and Reality of Fighting Financial Abuse
9
A Primer on Investment Fraud and Victimization
23
From the Savings and Loan Bailouts to Too Big to Fail
39
A Reciprocal Approach to the Political Economy of Wall Street Looting and Federal Regulatory Colluding
63
On Criminal Prosecution and Civil Law Enforcement
91
On the Social Construction of Victimization and the Reemergence of Public Victims
115
A Synopsis of DoddFrank and the Reregulation of Financial Abuse
133
Conclusion
151
Postscript
167
Notes
169
Glossary of Financial Terms
197
Subject Index
201
Name Index
205
About the Author
213
Copyright

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About the author (2012)

Gregg Barak is professor of criminal justice and criminology at Eastern Michigan University. He is author or coauthor of several books, including Class, Race, Gender, and Crime: The Social Realities of Justice in America, now in its third edition.

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