The Real Lessons of Bernie Madoff’s Crimes | The Crime Report

In Bernie Madoff and the Crisis: the Public Trial of Capitalism (Stanford University Press), Eren suggests that the focus on Madoff as the incarnation of financial corruption ignores the economic culture that has allowed him and other white-collar fraudsters to flourish. And his role in the Wall Street meltdown is poorly understood. “In some people’s minds, he’s to blame for the whole 2008 crisis, but he had nothing to do with mortgage-backed securities or the credit crunch,” Eren says. “There is a feeling that he’s in prison, and so all is well.”

via The Real Lessons of Bernie Madoff’s Crimes | The Crime Report