Top 100 Corporate Crime Stories of 2011
Here’s the other difference between the one percent and the rest of us –
The crimes of the one percent inflict far more damage on society than those of the 99 percent.
And they tend to get away with their crimes.
While we tend to get nailed.
The big multinational corporations, which are the primary delivery systems of wealth to the 99 percent, have rigged the justice system so that when they get in trouble with the law, they either aren’t prosecuted for their crimes, of if they are, they get special treatment – non prosecution or deferred prosecution agreements.
If they end up in the civil courts, they also get special deals – like neither admit nor deny consent decrees.
True, they pay fines, often in the tens or hundreds of millions of dollars, but this is pocket change to them – the equivalent of a parking ticket for serious wrongdoing.
They marinate the halls of power with campaign cash, flood them with lobbyists, and lubricate the revolving door – all to undermine our system of justice.
Out of the more than 500 stories we’ve written for Corporate Crime Reporter this year, here are the Top 100 – selected by our crack editorial team.
Just scan the the headlines, and you’ll get a sense of the enormity of the corporate crime wave.
And remember – Corporate Crime Reporter is only a weekly newsletter. We publish 48 times a year.
We’re considering making it a daily – just to keep up.
Top 100 Corporate Crime Stories of 2011
100. SEC Delivers First Non Pros Baby
99. Simon Johnson: Break Up the Big Banks
98. Grassley Asks: Why are Health Care Fraud Cases Stagnating?
97. Guidant to Pay $296 Million for FDA Crimes
96. Former Chase Bank Official Convicted of Taking Bribes
95. Oregon Sues Johnson & Johnson for Phatom Recall of Motrin
94. Grain Elevator Deaths Due to Lax OSHA Enforcement
93. Insider Trading Defendants Avoid Jail in 44 Percent of Cases
92. Lockheed to Pay $2 Million to Resolve False Claims Charge
91. Grossman Drafts Legislation to Criminalize the Corporate Form
90. Pentagon Spent Billions on Companies that Committed Fraud
89. Legal Challenge to Blanket Immunity in BAE Settlement
88. Maxwell Gets FCPA Prosecution Deferred, Pays $8 Million Criminal Fine
87. Nader Calls Jeep Grand Cherokee Modern Day Pinto for Soccer Moms
86. Oracle to Pay $46 Million To Settle False Claims Charge
85. Coalition: Negligent Doctors and Big Pharma Should Not Be Shielded
84. Chevron Found Guilty in Ecuador, Fined $9 Billion
83. Tyson Foods Gets Prosecution Deferred, Pays $4 Million FCPA Fine
82. Rolling Stone: Why Isn’t Wall Street in Jail?
81. Criminal Investigation Against Mozilo Closed
80. Horizon Lines to Plead Guilty, Pay $45 Million Criminal Fine
79. Walmart State and Local Tax Avoidance Exceeds $400 Million Annually
78. Wheelchair Fraud Results in $6 Million Fine
77. Feds Intervene in False Claims Case against KBR
76. Jack Abramoff, Whipping Boy
75. HHS Fines Cignet Health $4.3 Million
74. Arch Coal to Pay $4 Million
73. Forest Pharma Hit with $145 in Criminal Penalties
72. Goldman Sachs Board Member Charged with Insider Trading
71. CSPI Urges Feds to Ban Caramel Color from Sodas
70. Avaya and CIT Group Pay over $16.5 Million To Settle False Claims Case
69. Two NY York Lawmakers, Albany Lobbyist, Hospital CEOs Busted in Corruption Probe
68. USA Today: Fines Not Being Collected
67. The Dark Side of the Cruise Ship Industry and the Silence of The Nation Magazine
66. Audit Firms: Too Few to Fail?
65. Astrazeneca to Pay $68.5 to Settle Anti-Psychotic Drug Case
64. Japan Nuclear Reactor Design Caused GE Scientist to Quit in Protest
63. Chamber Hires Mukasey to Weaken FCPA
62. Consol to Pay $5.5 Pollution Fine
61. French Judge Charges Airbus with Manslaughter
60. Heart Association Endorses Stomach Surgery after $100K Gift from Lap-Band Maker
59. IBM to Pay $10 Million to Settle FCPA Action
58. Samsung SDI to Pay $32 Million Criminal Fine
57. PG&E to Pay $6 Million Criminal Fine
56. Occidental Oil to Pay $2 Million in False Claims Case
55. HHS Launches Health Care Fraud Fugitive List
54. How Milton Friedman and Chicago Economics Undermined America
53. Rakoff Rips Neither Admit Nor Deny SEC Settlements
52. Insider Trading Scandal Hits Congress
51. Antitrust Institute: T Mobile/AT&T Merger Anti-Competitive
50. Cell Phones, Brain Cancer and Devra Davis
49. JGC Gets FCPA Prosecution Deferred, Will Pay $218.8 Million Criminal Penalty
48. Verizon Pays $93.5 Million To Resolve False Claim Charge
47. Comverse Technology Gets Non Prosecution FCPA Agreement
46. Johnson & Johnson Gets FCPA Prosecution Deferred, to Pay $21.4 Million Criminal Penalty
45. Spitzer Calls on Holder to Prosecute Goldman Sachs or Resign
44. Stokes Sours on Obama’s Antitrust Effort
43. Honeywell Pleads Guilty, to Pay $11.8 Million
42. NPR, Electric Trolleys and Corporate Crime
41. Warren: Banks Want to Knife Consumer Bureau in the Ribs
40. DynCorp to Pay $8.7 Million to Settle False Claims Charge
39. Serono Pays $44 Million to Settle False Claims Charge
38. UBS Gets Non Pros Agreement, to Pay $160 Million
37. 29 Coal Miners Dead and Alpha Gets Non Prosecution Agreement
36. FedEx to Pay $8 Million to Settle False Claims Probe
35. Andy Cochran and the Coming War Between Constitutionalists and Corporatists
34. Quest Diagnostics in $241 Settlement
33. Wall Street Analyst: Goldman Too Big to Prosecute
32. Fresenius Ordered To Pay $82.6 Million
31. Friedrichs Baffled by NYT’s Claim That Major Crimes are in Decline (Answer: NYT Didn’t Look at Corporate Crime)
30. Novo Nordisk to Pay $25 Million to Settle False Claims Charge
29. Still No Criminal Charge in 2007 Utah Mine Disaster
28. Whistleblowers Call on Public Interest Groups to Rescind Obama Transparency Award
29. Fluor Corporation to Pay $4 Million to Settle False Claims Charge
28. Anadarko, Kerr-McGee To Pay $17 Million to Settle False Claims Charge
27. JP Morgan to Pay $153.6 Million To Settle SEC Probe
26. 60 Minutes: Why No Wall Street Prosecutions?
25. Boeing Overcharged Army Millions for Spare Helicopter Parts
24. MHSA: Massey Kept Two Sets of Books
23. State AGs Settle with Glaxo for $40 Million
22. Antitrust Activists Feel Sucker Punched as Varney Leaves to Cravath
21. JP Morgan Chase to Pay $92 Million in Bid Rigging Case
20. Armor Holdings Gets Non Pros FCPA Agreement, to Pay $10 Million Criminal Penalty
19. Kentucky Nursing Home Accused in Deaths of Five Residents
18. Richard Grossman 1943-2011
17. Dickie Scruggs, Huey Long and the Politics of Crime in Mississippi
16. SEC Charges Liquor Giant Diego with FCPA Violations
15. Pew Report Hits Water Pollution from Chicken Plants
14. Wachovia Gets Non Pros Agreement, to Pay $148 Million
13. Taibbi: Is the SEC Covering Up Wall Street Crimes?
12. Jane Barrett on the Need for a Federal Workplace Homicide Statute
11. Gary Aguirre Says Shut Down the SEC, Start Over
10. Chevron to Pay $24 Million to Settle SEC Lawsuit
9. Maxim Healthcare Gets Prosecution Deferred, to Pay $150 Million
8. Accenture to Pay $68 Million to Settle False Claims Charge
7. Amoco to Pay $20 Million to Settle False Claims Charge
6. Oracle to Pay $199 Million to Resolve False Claims Charge
5. Activists Draft Law to Criminalize Fracking
4. Judge Rakoff Throws Out SEC/Citigroup Settlement
3. Pfizer to Pay $14 Million to Settle False Claims Charge
2. UMW Says UBB Mine Disaster Was Industrial Homicide
1. Glaxo to Pay $3 Billion to Settle False Claims Charge