FINANCIAL CRISIS OR FINANCIAL CRIME? Cover Image
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FINANCIAL CRISIS OR FINANCIAL CRIME?
FINANCIAL CRISIS OR FINANCIAL CRIME?

Author(s): Costica Voicu
Subject(s): Law, Constitution, Jurisprudence, Civil Law
Published by: Universul Juridic
Keywords: financial crisis; the Davos Forum; European Council summits; The National Banking Law (US); Alvin Toffler; Jean Ziegler; Benjamin Barber; Joseph Stiglitz;

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.

  • Issue Year: V/2012
  • Issue No: 01
  • Page Range: 17-22
  • Page Count: 6
  • Language: English