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Too Big to Jail, by Brandon Garrett

Too Big to Jail - How Prosecutors Compromise with Corporations

Brandon Garrett discusses the way American courts routinely hand down harsh sentences to individuals but apply a different standard of justice to corporations in Too Big to Jail.

Too Big to Jail "takes readers into a complex, compromised world of backroom deals for an unprecedented look at what happens when criminal charges are brought against a major company." The author relates that "many companies pay no criminal fine", that "blockbuster payments are often greatly reduced" and that "high level employees tend to get off scot-free." The author's objective is to describe "concrete ways to improve corporate law enforcement by insisting on more stringent prosecution agreements, ongoing judicial review, and greater transparency."

Check out this book and others like it, in Richland Library's collection, that explain how companies described as "too big to fail" are often also "too big to jail".


Amazon Says: Taking readers into a complex, compromised world of backroom deals, this unprecedented look at what really happens when criminal charges are brought against a major company in more...
Amazon Says: Taking readers into a complex, compromised world of backroom deals, this unprecedented look at what really happens when criminal charges are brought against a major company in the United States presents data from more than a decade of federal cases that reveals of pattern of negotiation and settlement. less...
Amazon

Flash Boys by Michael Lewis
Amazon Says: Four years after his #1 bestseller The Big Short, Michael Lewis returns to Wall Street to report on a high-tech predator stalking the equity markets.Flash Boys is about a smal more...
Amazon Says: Four years after his #1 bestseller The Big Short, Michael Lewis returns to Wall Street to report on a high-tech predator stalking the equity markets.Flash Boys is about a small group of Wall Street guys who figure out that the U.S. stock market has been rigged for the benefit of insiders and that, post–financial crisis, the markets have become not more free but less, and more controlled by the big Wall Street banks. Working at different firms, they come to this realization separately; but after they discover one another, the flash boys band together and set out to reform the financial markets. This they do by creating an exchange in which high-frequency trading―source of the most intractable problems―will have no advantage whatsoever.The characters in Flash Boys are fabulous, each completely different from what you think of when you think “Wall Street guy.” Several have walked away from jobs in the financial sector that paid them millions of dollars a year. From their new vantage point they investigate the big banks, the world’s stock exchanges, and high-frequency trading firms as they have never been investigated, and expose the many strange new ways that Wall Street generates profits.The light that Lewis shines into the darkest corners of the financial world may not be good for your blood pressure, because if you have any contact with the market, even a retirement account, this story is happening to you. But in the end, Flash Boys is an uplifting read. Here are people who have somehow preserved a moral sense in an environment where you don’t get paid for that; they have perceived an institutionalized injustice and are willing to go to war to fix it. less...
Amazon

Amazon Says: Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulati more...
Amazon Says: Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks—Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley—which together control assets amounting, astonishingly, to more than 60 percent of the country’s gross domestic product, these financial institutions (now more emphatically “too big to fail”) continue to hold the global economy hostage, threatening yet another financial meltdown with their excessive risk-taking and toxic “business as usual” practices. How did this come to be—and what is to be done? These are the central concerns of 13 Bankers, a brilliant, historically informed account of our troubled political economy.   In 13 Bankers, Simon Johnson—one of the most prominent and frequently cited economists in America (former chief economist of the International Monetary Fund, Professor of Entrepreneurship at MIT, and author of the controversial “The Quiet Coup” in The Atlantic)—and James Kwak give a wide-ranging, meticulous, and bracing account of recent U.S. financial history within the context of previous showdowns between American democracy and Big Finance: from Thomas Jefferson to Andrew Jackson, from Theodore Roosevelt to Franklin Delano Roosevelt. They convincingly show why our future is imperiled by the ideology of finance (finance is good, unregulated finance is better, unfettered finance run amok is best) and by Wall Street’s political control of government policy pertaining to it.   As the authors insist, the choice that America faces is stark: whether Washington will accede to the vested interests of an unbridled financial sector that runs up profits in good years and dumps its losses on taxpayers in lean years, or reform through stringent regulation the banking system as first and foremost an engine of economic growth. To restore health and balance to our economy, Johnson and Kwak make a radical yet feasible and focused proposal: reconfigure the megabanks to be “small enough to fail.”   Lucid, authoritative, crucial for its timeliness, 13 Bankers is certain to be one of the most discussed and debated books of 2010. less...
Amazon

Amazon Says: A real-life thriller about the most tumultuous period in America’s financial history by an acclaimed New York Times Reporter Andrew Ross Sorkin delivers the first t more...
Amazon Says: A real-life thriller about the most tumultuous period in America’s financial history by an acclaimed New York Times Reporter Andrew Ross Sorkin delivers the first true behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy. “We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner, the then-president of the Federal Reserve of New York, would tell Henry M. Paulson, the Treasury secretary, about the catastrophic crash the world’s financial system would experience. Through unprecedented access to the players involved, Too Big to Fail re-creates all the drama and turmoil, revealing never disclosed details and elucidating how decisions made on Wall Street over the past decade sowed the seeds of the debacle. This true story is not just a look at banks that were “too big to fail,” it is a real-life thriller with a cast of bold-faced names who themselves thought they were too big to fail. less...
Amazon

Amazon Says: A groundbreaking book that challenges Americans to reevaluate our views on how a new and more sophisticated style of corruption and private interests have infiltrated every le more...
Amazon Says: A groundbreaking book that challenges Americans to reevaluate our views on how a new and more sophisticated style of corruption and private interests have infiltrated every level of society.From the Tea Party to Occupy Wall Street, however divergent their political views, these groups seem united by one thing: outrage over a system of power and influence that they feel has stolen their livelihoods and liberties. Increasingly, protesters on both ends of the political spectrum and the media are using the word “corrupt” to describe an elusory system of power that has shed any accountability to those it was meant to help and govern. But what does corruption and unaccountability mean in today’s world? It is far more toxic and deeply rooted than bribery. Advisors, strategists and other private contractors, which make up an ever-increasing share of the government, act in the best interests of their company, versus beholden to the tax payer.  Foreign governments with a history of human rights violations, military coups, and more, hire American public relation firms to suppress reports and search results for their crimes.  Investigative journalism has been replaced by "truthiness."  From Super PACs pouring secret money into our election system, to companies buying better ratings from Standard & Poors, or the extreme influence of lobbyists in congress, all are embody a “new corruption” and remain unaccountable to our society’s supposed watchdogs, which sit idly alongside the same groups that have brought the government, business and much of the military in to their pocket.  less...
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