Titanic Post

Russell Mokhiber, editor of Corporate Crime Reporter to the Taming the Giant Corporation conference in Washington, D.C., June 9, 2007.Whether in bodies or injuries or dollars lost, corporate crime and violence wins by a landslide.

The FBI estimates, for example, that burglary and robbery — street crimes — costs the nation $3.8 billion a year.

The losses from a handful of major corporate frauds — Tyco, Adelphia, Worldcom, Enron — swamp the losses from all street robberies and burglaries combined.

Health care fraud alone costs Americans $100 billion to $400 billion a year.

The savings and loan fraud — which former Attorney General Dick Thornburgh called “the biggest white collar swindle in history” — cost us anywhere from $300 billion to $500 billion.

And then you have your lesser frauds: auto repair fraud, $40 billion a year, securities fraud, $15 billion a year — and on down the list.