You read a lot about fairly stiff fines levied on white collar criminals. And, being reasonably good citizens, you assume that the fines will be paid. Think again!
Last year the General Accounting Office reported that $25 billion in fines and restitution owed by white collar criminals was uncollected. That's almost 30% of what Bush is asking for to fight our two wars. In 2001 the uncollected amount was only $13 billion. The amount owed you and me by these convicted felons has almost doubled in three years.
Recently the GAO studied the rate of payment in five white collar crime cases. The judge ordered the convicted to pay $568 million in restitution. Only 7% has been collected to date. Yet, the culprits are not being hounded for the money nor do they face criminal prosecution for failing to obey the court's orders.
The government doesn't have any problem hounding students for a few thousand dollars unpaid on their student loans. Yet, it can let five people owing more than a half billion off the hook.
1 comment:
What bothers me is that your articles demonstrate the corruption and influence of those in the top eschelons of society - so we know the information is available - but no-one in authority does anything about it!
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