In this blog I am going to discuss why I believe that white collar crime is more serious than street crimes. I have a few major reasons for why I believe this. The first thing I want to start with is how detrimental white collar crime can be to the business that they are committed in. This is seen when the company Cendant collapsed amidst of its accounting scandals and caused the company to lose half of its stock value in a day and caused the stock holders of the company to lose $14 billion. Just because the company got caught doing white collar crime this caused major devastation to the company and basically ruined it. The second reason I believe that white collar crime is worse than street crime is because the people who normally commit these white collar crimes are leaders of society who are normally looked up to. Lastly the most important reason that I believe that white collar crime is more serious than street crimes is because it has the ability to hurt thousands to millions of people. This can range from stock holders to people in companies to even people involved in Ponzi schemes. The devastation from this can cause families to lose all of their savings, companies to fall apart, and can cost investors millions. Where as street crimes do physically hurt people but it is normally one on one or at a small magnitude. I am not trying to say that street crimes aren't serious but I do want people to understand that white collar crime is more serious mainly because of the magnitude of people that it effects. This being said the punishments for white collar crime need to become more strict because most people doing these crimes can easily pay the fines and get out of doing any time.
In this blog I am going to discuss why I believe that white collar crime is more serious than street crimes. I have a few major reasons for why I believe this. The first thing I want to start with is how detrimental white collar crime can be to the business that they are committed in. This is seen when the company Cendant collapsed amidst of its accounting scandals and caused the company to lose half of its stock value in a day and caused the stock holders of the company to lose $14 billion. Just because the company got caught doing white collar crime this caused major devastation to the company and basically ruined it. The second reason I believe that white collar crime is worse than street crime is because the people who normally commit these white collar crimes are leaders of society who are normally looked up to. Lastly the most important reason that I believe that white collar crime is more serious than street crimes is because it has the ability to hurt thousands to millions of people. This can range from stock holders to people in companies to even people involved in Ponzi schemes. The devastation from this can cause families to lose all of their savings, companies to fall apart, and can cost investors millions. Where as street crimes do physically hurt people but it is normally one on one or at a small magnitude. I am not trying to say that street crimes aren't serious but I do want people to understand that white collar crime is more serious mainly because of the magnitude of people that it effects. This being said the punishments for white collar crime need to become more strict because most people doing these crimes can easily pay the fines and get out of doing any time.
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