Is the Justice Department Going Soft on White Collar Crime?
A recent New York Times article titled, As Wall St. Polices Itself, Prosecutors Use Softer Approach, (here), argued that federal prosecutors have been going “soft” against Wall Street by increased use of “deferred” or “non-prosecution” agreements. The article misses the point and reflects a simplistic view of criminal prosecutions. A criminal conviction against a corporation has significant implications. The Arthur Anderson case was the worst case scenario. After it was convicted, the company went out...