When Edwin Sutherland introduced the concept of white-collar crime, he referred to the respectable businessmen of his day who had, in the course of their occupations, violated the law whenever it was advantageous to do so. Yet since the founding of the American Republic, numerous otherwise respectable individuals had been involved in white-collar criminality. Using organized smuggling as an exemplar, this narrative history of American smuggling establishes that white-collar crime has always been an integral part of American history when conditions were favorable to violating the law. This dark side of the American Dream originally exposed itself in colonial times with elite merchants of communities such as Boston trafficking contraband into the colonies. It again came to the forefront during the Embargo of 1809 and continued through the War of 1812, the Civil War, nineteenth century filibustering, the Mexican Revolution and Prohibition. The author also shows that the years of illegal opium trade with China by American merchants served as precursor to the later smuggling of opium into the United States. The author confirms that each period of smuggling was a link in the continuing chain of white-collar crime in the 150 years prior to Sutherland’s assertion of corporate criminality.

Profit Without Honor: White-Collar Crime and the Looting of America seeks to elucidate a very broad subject: white-collar crime. How broad? Its domain stretches from the small price-gouging merchant to the huge price-fixing cartel. It can breed in an antiseptic hospital or a toxic dump. It is at home on Main Street, Wall Street, Madison Avenue, and countless other addresses - including, at times, 1600 Pennsylvania Avenue.

In a thorough reappraisal of the white-collar and corporate crime scene, this Second Edition builds on the first edition to complete the criminal narrative in an outstanding reference resource.

“Blood-boiling…with quippy analysis…Taub proposes straightforward fixes and ways everyday people can get involved in taking white-collar criminals to task.”—San Francisco Chronicle How ordinary Americans suffer when the rich and powerful use tax dodges or break the law to get richer and more powerful—and how we can stop it. There is an elite crime spree happening in America, and the privileged perps are getting away with it. Selling loose cigarettes on a city sidewalk can lead to a choke-hold arrest, and death, if you are not among the top 1%. But if you're rich and commit mail, wire, or bank fraud, embezzle pension funds, lie in court, obstruct justice, bribe a public official, launder money, or cheat on your taxes, you're likely to get off scot-free (or even win an election). When caught and convicted, such as for bribing their kids' way into college, high-class criminals make brief stops in minimum security "Club Fed" camps. Operate the scam from the executive suite of a giant corporation, and you can prosper with impunity. Consider Wells Fargo & Co. Pressured by management, employees at the bank opened more than three million bank and credit card accounts without customer consent, and charged late fees and penalties to account holders. When CEO John Stumpf resigned in "shame," the board of directors granted him a $134 million golden parachute. This is not victimless crime. Big Dirty Money details the scandalously common and concrete ways that ordinary Americans suffer when the well-heeled use white collar crime to gain and sustain wealth, social status, and political influence. Profiteers caused the mortgage meltdown and the prescription opioid crisis, they've evaded taxes and deprived communities of public funds for education, public health, and infrastructure. Taub goes beyond the headlines (of which there is no shortage) to track how we got here (essentially a post-Enron failure of prosecutorial muscle, the growth of "too big to jail" syndrome, and a developing implicit immunity of the upper class) and pose solutions that can help catch and convict offenders.

Since the first edition of the Encyclopedia of White Collar and Corporate Crime was produced in 2004, the number and severity of these crimes have risen to the level of calamity, so much so that many experts attribute the near-Depression of 2008 to white-collar malfeasance, namely crimes of greed and excess by bankers and financial institutions. Whether the perpetrators were prosecuted or not, white-collar and corporate crime came near to collapsing the U.S. economy. In the 7 years since the first edition was produced we have also seen the largest Ponzi scheme in history (Maddoff), an ecological disaster caused by British Petroleum and its subcontractors (Gulf Oil Spill), and U.S. Defense Department contractors operating like vigilantes in Iraq (Blackwater). White-collar criminals have been busy, and the Second Edition of this encyclopedia captures what has been going on in the news and behind the scenes with new articles and updates to past articles.