Financial fraud
| Financial fraud link (fraud, white collar crime) | |
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| File:Financial fraud.jpg |
Financial fraud is widespread. It does not (usually) include actions which though they may be immoral, murderous and/or deceitful are legal.
Official narrative
Financial fraud is perpetrated by "bad apples", who can be brought to justice by financial regulators such as the SEC.
Concerns
The higher up in management, or executive level in the financial system the wrongdoing is happening, the less it is likely to be prosecuted; which most recognizable happened in the aftermath of the 2008 financial crisis.
The SEC is widely cited as a textbook example of the revolving door syndrome whereby the regulators and the regulated work together - on a level of individuals, it is not possible to separate the two populations.
Savings and Loan Fraud
- Full article: Savings and Loan Fraud
- Full article: Savings and Loan Fraud
The notion of a global international financial system which is fundamentally sound, subject only to a few bad actors is certainly questionable. In US, the cover-up of the Savings and Loan fraud is ongoing - as of 2019, although the article itself did talk about fraud, Wikipedia called the event not a "fraud" but a "crisis".