FINANCIAL CRISIS OR FINANCIAL CRIME?
FINANCIAL CRISIS OR FINANCIAL CRIME?

Summary/Abstract: The all-manifest crisis at the beginning of a new millennium has placed State and Law in a difficult position, finding and imposing regulations to address the state of change. Thus, society finds itself in what has been termed as the ‘clash of speeds’ by Alvin Toffler (2006). The global financial phenomenon is marked by an increasing advocacy of private interests of corporations, banks, as national governments become instruments of the private sector. Law has been generating and amplifying crises, as it has scandalously become subordinated to political influence gained by the banking and finance industry over the law-making and executive powers. Globally, only measures aimed a.o. at salvaging banks and corporations from bankruptcy have been enforced until now, as states have become main shareholders in a peculiar form of capitalism.

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