My final blog is going to be a little different than the previous seven. I do not remember hearing about a lot of white collar crime when the economy was flourishing, but now since the economy has nearly hit rock bottom it seems as those many more cases of white collar crime are becoming more apparent. I cannot say from personal experience but when someone has a very high paying job and they are living the luxury life and then it is all taken away by the diving economy, he may be more likely to turn to some type of white collar crime. Like selling inordinate amounts of stock before telling the public that the company is diving. We have seen this in the news wit companies like Enron and others. I couldn't imagine having millions of dollars and one day just seeing it sliding out of control and out of the bank, I think I might try to do something to save it, although most of the time the only thing to do is something illegal. I am not condoning actions of this kind but I can't really blame these people for either trying to scam someone like in the case of Bernie Madoff, or just trying to end of with some money when you know the company is tanking like Enron. In looking for an article to talk about in this blog I came across one from the New York Times talking about people living in upper scale apartments in New York not being able to pay rent because the economy is so bad. It just talks about people that have lost their jobs due to the economy and are unable to afford the rent that they once could with their seemingly steady jobs. With this economy there is no knowing how long your job will last, even if you are doing a very good job it may not be enough because the company just needs to save money. One man cited in this article was laid off from Merrill Lynch and could no longer afford his 5, 700 dollar rent and also had 20,000 in back rent so he had to move out. I guess one thing to learn from this article is that make sure you have a savings for at least six months in case you lose your job to be able to pay for the basics like food and rent.
My major question from reading this article is, are these people more likely to turn to crime to get back to where they were? It would be an interesting study to see where people end up after losing their jobs and their houses. It would be a big switch to go from having a 5,700 dollar a month apartment to robbing a bank or something. But from past articles the amount of money you have is not what determines the actions you take. Having money makes things much easier and people that lose their houses and savings are at rock bottom and they may feel it will not get worse. I can tell whoever is thinking about turning to some type of crime that it does get worse, so keep fighting and try to get back on your feet. It is a very tough economic time but it will get better just try to do whatever you can to get by right now.
Source:
New York Times
Address for article:
http://www.nytimes.com/2009/05/05/nyregion/05evict.html?hpw
My major question from reading this article is, are these people more likely to turn to crime to get back to where they were? It would be an interesting study to see where people end up after losing their jobs and their houses. It would be a big switch to go from having a 5,700 dollar a month apartment to robbing a bank or something. But from past articles the amount of money you have is not what determines the actions you take. Having money makes things much easier and people that lose their houses and savings are at rock bottom and they may feel it will not get worse. I can tell whoever is thinking about turning to some type of crime that it does get worse, so keep fighting and try to get back on your feet. It is a very tough economic time but it will get better just try to do whatever you can to get by right now.
Source:
New York Times
Address for article:
http://www.nytimes.com/2009/05/05/nyregion/05evict.html?hpw
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