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Walls of secrecy and silence
Author(s) -
Van De Bunt Henk
Publication year - 2010
Publication title -
criminology and public policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.6
H-Index - 33
eISSN - 1745-9133
pISSN - 1538-6473
DOI - 10.1111/j.1745-9133.2010.00640.x
Subject(s) - silence , misconduct , secrecy , incentive , crunch , political science , law , public relations , business , criminology , law and economics , psychology , sociology , economics , medicine , aesthetics , philosophy , microeconomics , physical therapy
Research Summary Most analysts of the causes of the contemporary credit crunch have concluded that the supervising agencies failed in their duties. The same is true for studies of several major fraud scandals, including the Madoff affair and the Dutch construction fraud. The remedy seems immediately obvious: more and better regulation and supervision. However, this line of reasoning seems somewhat simplistic by ignoring the question of how illegal activities can remain hidden for many years from supervising agencies, victims, and bystanders. This research article argues that the problem also lies in the successful concealment of illegal activities by the perpetrators and in the presence of silence in their social environment. Policy Implications The cases analyzed in this article suggest that financial misconduct also could be controlled by breaking the conspiracies of silence. The strengthening of supervision is unlikely to be effective without simultaneous efforts to encourage people to speak out and to give them incentives to want to know and to tell the truth.