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CCJ3644 White Collar Crime: Final Exam (Summer C)
Terms in this set (44)
-Father of modern Economics
-Promote own self-interest
-When everyone promotes self-interest it would be better from the economy.
-Move away from the government
"Greed is Good"
-Inspired Gordon Gekko in the movie Wall Street
-A leader in the libertarian movement
-In favor of a complete separation of economy and government
-"Moral to be selfish" in first interview
-Student of Ayn Rand
-Book written by Ayn Rand
-Published in 1957
-"Reason, individualism, and capitalism"
Charles Austin Beard
-Wrote a book titled "An Economic Interpretation of the Constitution"
-Published in 1913
-"The truth shall set you free"
-Looked back at our founding fathers through Treasury Department Records and found most were just profiteering.
(Government and Socialism)
John D. Rockefeller
-Controlled Standard Oil
-Was worth $336 billion in today's dollars
-Controlled the railroads
-Took advantages of the farmer's by price gouging
John Pierport Morgan
-No unions were allowed
-Controlled the Union Pacific and other railroads
Who becomes President when William McKinley is assassinated in 1901?
The Panic of 1907
Wall Street is bailed out by J.P Morgan "The man"
After the Panic of 1907
-The Pujo committee investigated J.P Morgan, the "Money Trust" and Wall Street.
-"Too much power and money for one man"
Who was the Chief Counsel of the Senate that investigated Wall Street?
-wrote a "Wall Street Under Oath: The Story of Our Modern Money Changers"
The Panic of 1907 and the Financial Meltdown of 2008 were similar because
-Caused by Wall Street
-Caused by fraud and insider abuse
The Progressive Era and the Election of 1912
-Three people ran for President
-Teddy Roosevelt, Woodrow Wilson, and Howard Taft.
The Progressive Party (Bull Moose Party)
-In 1912 nominated Teddy Roosevelt for President
Platform for the Progressive Party (Teddy Roosevelt)
-Disclosure of campaign contributions
-Social welfare to cover senior citizens, unemployed, and disabled
-Expanded rights for unions
-Women's right's: minimum wage and right to vote
-Commission to regulate securities (SEC formed in 1934)
-Relief to farmers ("One Galious Rebellion") so railroads couldn't price gouge.
-Eight-hour work day
-Constitutional amendment to allow for federal income tax and an inheritance tax
-Election of U.S. Senators (back then they were appointed)
-Recall elections (Still in western states)
-Referendums to reverse legislative laws
-Initiative to create laws voted on by voters
-Reduction in tariffs
-Regulation of corporations (FTC formed in 1914)
As a reform of the Progressive Era, Congress passed the Federal Reserve Act of 1913
Creating the Central Bank of the United States for the first time since Andrew Jackson's veto of the Second Bank of the United States.
When was Theodore Roosevelt President?
-Ran for election in 1912
Florida Banking Boom was in the early 20's
Florida Banking crash was in 1926.
-Partners with James Smith and W.D. Manley
-Was not indicted
-61 banks in the Florida Banking System
-Bribed E.M Porter to say book were okay
-Partner with J.R. Anthony and W.D. Manley
-Committed Suicide before he was indicted
-killed himself with a shot gun
-"The mad banker"
-Was the only one indicted
-Tried to declare that he was insane and would walk around in the streets during the night wearing his pajamas.
-Declared not insane from wife's testimony and was convicted and served jail time.
-convicted and served for 7 years
-Comptroller of Florida
-Was supposed to be indicted but you can't convict a city comptroller, was acquitted and never convicted.
-Promoter in Paradise
-Architect- no official training (apprentice)
-Coister Inn (only one actually build) 100 room hotel and had the gala in february (dishes)
-Con-artist brother of Addison Mizner
-Held the check book of Mizner Development Corporation
Herbert Hoover Reconstruction Finance Corporation (RFC)
-Formed in 1932
-Charles Dawes and Jesse Jones both used this to bail out their own banks
-"Emperor of Chicago"
-Was loaned money from Dawes bank (much more than needed and company went bankrupt)
-Not bailed out by Dawes (only Jesse Jones and Dawes are bailed out)
-Indicted, the only one, but was acquitted
Samuel Insull Jr.
-Indicted but later acquitted
-Tries to clear the family name and hires a young historian named Forrest McDonald
-Wrote the book Insull
-Was paid by Insull Jr. to write a "puff piece" about his father.
-In the book, he criticizes Roosevelt and supports Insull.
-Became a big historian.
-Wrote a book about Charles Dawes called "Portrait of an American: Charles G. Dawes" but was actually was written in memory of his brother Henry Dawes which means he was being paid to write it.
-Wrote another book about Jesse H. Jones called "Jesse H. Jones: The Man and the Statesman" but was also being paid to write this book because he worked for the Houston Chronicle which Jesse Jones owned.
James S. Olson
-Wrote two books
-"Herbert Hoover and the Reconstruction Finance Corporation, 1931-1933"
-"Saving Capitalism: The Reconstruction Finance Corporation and the New Deal, 1933-1940"
Walter L. Buenger
-Historian at Texas A&M University
-Wrote Puff pieces on Jesse Jones
Glass Steagall Act
-Known as the Banking Act
-Passed in 1933 during Roosevelt Administration
Sarbanes-Oxley Act of 2002
-Passed after the collapse of Enron
-Gave a platform to prosecute Wall Street bankers in that the CEO and Chief Financial Officer had to sign financial statements.
Unsecured Creditors of Enron
-Citibank 3 billion
-Chase Manhattan Bank 2 billion
-Bank of New York 2.4 billion
-LLP the accounting firm
-Indicted during the Enron scandal
-owed nearly $2 million by Enron services rendered
-Indicted after the collapse of Enron
-Former Chairman of Enron
-Died of a heart attack before he could be convicted
-Former CEO of Enron
-Was indicted after the collapse of Enron
-Was convicted and is still serving time in jail
Charles Dawes banks
Old: Central Republic Bank and Trust Company
New: City National Bank
THIS SET IS OFTEN IN FOLDERS WITH...
CCJ3644 White Collar Crime: Exam 1 (Summer C)
CCJ3644 - Test #2 - R. Vickers (Fall 2015)
CCJ3644 White Collar Crime: Exam 2 (Summer C)
CCJ3644 - Test #1 - R. Vickers (Fall 2015)
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