Word: white-collar
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...importance underscored by the fact that the feds got a wiretap to collect evidence, a technique normally reserved for drug busts and organized crime. "This is a monumental step for the government," says Stetson University law professor Ellen Podgor. "This is not the typical way you do a white-collar case." (See the top 10 crooked CEOs...
...trading is hardly a clear one. Technically, no laws ban trading on non-public information; prosecutions are based on legal theories that were developed in earlier court cases. "It's one of those areas where the courts say, 'I know it when I see it,' " says Gerald Lefcourt, a white-collar criminal defense lawyer in New York and past president of the National Association of Criminal Defense Lawyers. (See pictures of the top 10 scared stock traders...
...However, previous white-collar criminals have received far stiffer sentences that Sorkin's proposed 12-year term. Adelphia Communications' former finance chief Timothy Rigas is serving a 20-year term; former WorldCom chief executive Bernard Ebbers, who was 63 at the time of his sentencing, was given 25 years; and former Enron chief executive Jeffrey Skilling got 24 years. In April 2008, a federal judge in Colorado sentenced 72-year-old Norman Schmidt to 330 years for using money from his investment scheme to purchase properties near Aspen and eight NASCAR race cars, among other items. Similar to Madoff...
...fifth grade class, members of the Parole Board). It is my honor to be here with you at ____ (Class Day, your anti-drug program graduation, my hearing). Presumably your selection committee knew what they were getting themselves into when they selected _____ (a real American hero, an adult, a white-collar criminal). I’m here to share with you today some of the things I learned in ____ (my time at Harvard, my post-fifth grade life, prison). Many of those lessons came while I was _____ (at The Crimson, in sixth grade, in solitary confinement). In the grand tradition...
Strully also found that blue-collar workers were harder hit by job loss, both physically and mentally. After losing their job, whether they were fired, laid off or left voluntarily, blue-collar workers were twice as likely to report being in fair or poor health as white-collar workers, among whom Strully found no such change in health. While the current study does not investigate the reasons for that disparity, Strully believes it may have something to do with the smaller financial buffer that blue-collar employees tend to have to cushion them from a sudden loss of income...