Legal system unfit to prosecute complex cases

Legal system unfit to prosecute complex cases

James McDermott examines what lessons can be learned for financial-related prosecutions of the future.

Theodore Roosevelt once observed of white-collar crime: "A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad." Recent events in Ireland would suggest that the man who steals from the freight car is also much more likely to be successfully convicted than the man who steals the railroad. It is worth reflecting on why this should be so.

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