A former prosecutor of white-collar criminals, now hustling business for his private law practice, opines humbly:
White-collar crime is rarely about greed, in the opinion of the former prosecutors. “It is generally hubris,” Mr Owens says. “It’s a corporate culture that is detached and guarded by advisers who never challenge.”
The same could be said, with perhaps more justification, for the US culture of criminal prosecution. Businessmen are subject to criminal liability for a wide range of behaviors, and often stand to lose enormous amounts of money and their careers based on mere allegations of wrongdoing. Meanwhile, prosecutors who destroy highly productive business people out of hubris and personal ambition are almost never accountable for their most egregious actions, and indeed are likely to benefit professionally from them.