Sunday, April 8, 2007

Corruption / White-Collar Crime

Corruption and White-Collar Crime are rampant.
  • Capitalism is the creator of wealth, but corruption needs to be checked. Hockey is a good analogy. With rules and rule-enforcement, Hockey is an amazing sport and the players produce amazing feats. Without rule-enforcement, hockey players will do anything to win, including bashing and injuring others. With rule-enforcement, corporations can do amazing things. Without rule-enforcement, corporations will do anything to maximize wealth, including damaging Canadians and the environment.
  • When corruption sets in any society in history,
    • the society deteriorates economically and socially
    • standard of living drops for all
  • We must minimize immigration from countries where corruption is ingrained in its culture. Government workers in Canadian Passport offices and Ministry of Transportation are taking bribes and kick-backs. These workers are immigrants from countries where corruption is the normal way of getting ahead.
  • White collar-criminals rarely get jail-time. If they do, their jail-time is usually short. If you steal from a convenience store or a bank machine, you will likely get several years of jail-time. If a white-collar criminal steals millions, he will likely get off. The biggest insider-traders in Canadian history stole close to $5 million and received no jail-time. The Liberal government scammed $400 million from taxpayers and most of them are free or retired. We are baffled as to why this is the case. We can only guess that judges, prosecutors, etc., who are also white-collar people, can relate to and empathize with fellow well-educated professionals, alumni or college-grads, which is the usual background of white-collar criminals, and therefore are more lenient on their own kind. Nevertheless, something has to be done to curb white-collar crime and to seek justice in punishment.
Read more:

Corruption on Wall Street

Corruption - Must-See Documentaries

Corruption - Corporations



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