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UA / Civil Engineering Structures / CE 100 / What was the libor scandal?

What was the libor scandal?

What was the libor scandal?


School: University of Alabama - Tuscaloosa
Department: Civil Engineering Structures
Course: Intro Criminal Justice
Professor: Douglas klutz
Term: Fall 2016
Cost: 25
Name: CJ 100 Unit 1 lecture notes
Description: lecture notes for criminal justice 100 from the beginning of class until the first test
Uploaded: 09/04/2016
5 Pages 44 Views 4 Unlocks

demetrim5 (Rating: )

very good notes

CJ 100 Notes

What was the libor scandal?

August 17, 2016

3 main components of criminal justice system:

∙ Policing/law enforcement: local, state, federal

∙ Court system/judicial process

∙ Corrections/prison, community (parole, community service) Vocab words:

∙ Criminal justice- society’s response to crime 

∙ Crime- an act or qualifying omission that is criminally punished by the  government at some level

August 19, 2016

Media influence on the CJ system

∙ “the illusion of choice”

o almost all media comes from the same six sources

∙ 6 media giants control about 90% of what we read, watch, and listen to ∙ controlling the news is basically controlling perceived reality  o Edward Bernays- known as the ‘father of propaganda’, published  a book called Propaganda  

What are 3 major components of the criminal justice system?

If you want to learn more check out What is meant by production possibility frontier?

 o Peak crime committing years: age 16-24 years 

o Age demographic is very important to look at when  If you want to learn more check out How quickly an enzyme becomes saturated?

understanding overall crime rate

 o Crime rate has been steadily declining over the past 25 years ∙ Media sensationalism- tendency to present information about crime in  a way that provokes public interest and excitement, usually at the  expense of reality

∙ Public opinion often contradicts findings from actual crime data ∙ News outlets sensationalize to make money (they are a business) Trial by media Don't forget about the age old question of What characteristics of spices made them good trade commodities?

∙ Trial by media is when the media reaches a verdict in a case before the jury does 

What factors influence the development of criminal justice policies?

We also discuss several other topics like What are the properties of limits?

o Examples: Casey Anthony, OJ Simpson, etc.  

∙ Only about 5-10% of criminal cases actually go to a trial. The other 90- 95% end in a plea deal  

The role of public opinion

∙ Public opinion greatly influences political leaders We also discuss several other topics like What are organomagnesium compounds?

∙ Mass media greatly influences public opinion  

∙ New age of social media has changed everything (YouTube, Facebook,  twitter…)  

 ∙     Spending on criminal justice has gone steadily up over the past 50  years 

∙    The United states has the largest incarceration rate  

Current events

∙ Our national debt is about $19.5 trillion  

∙ Our annual cost of crime is about $2 trillion  

August 22, 2016

White Collar Crime

∙ Frauds committed by business/government professionals ∙ Bernie Madoff, Libor Scandal, Enron

∙ What was the Libor scandal?

o London Inter Bank Offer Rate

o Banks are supposed to come together INDEPENDENTLY to come  up with an interest rate

o Banks cheated consumers out of hundreds of trillions of dollars o Banks jacked up interest rates in which people payed student  loans, mortgages, etc. and lowered it when people were not  paying back loans Don't forget about the age old question of How money goes to the states?

o Media hardly covered Libor Scandal at all

∙ Criminal court- has to be found guilty beyond reasonable doubt, has to  face criminal punishment (life in prison, death)

o Very little criminal punishment for those who participated in Libor scandal

∙ Deterrent – PROACTIVELY preventing criminal acts

∙ The impact of white collar crime is very defuse (widespread) White collar criminality

∙ Edwin Sutherland was the first to publish on white collar crime (1940) ∙ Called “the father of white collar crime”

∙ Sutherland’s criteria:

o Crime had to be committed in the course of one’s occupation o Crime is undertaken by a “person of respectability and high  social status”

∙ Ponzi scheme - fraud in which belief in the success of a nonexistent  enterprise is fostered by the payment of quick returns to the first  investors from money invested by later investors 

∙ 3 main components to a Ponzi scheme

o seems legitimate  

o have to come from well-respected and trusted individual  o all end the same way: new investors stop and house of cards  collapses  

∙ criminology – scientific study of why criminals commit crimes o biological criminology

o psychological criminology  

o sociological criminology  

August 24,26, 2016

∙ Bill of Rights – first ten amendments of the US constitution, it protected  against a central government becoming too powerful

∙ 1st amendment – freedom of expression (speech, press, religion,  assembly, petition)  

 Schenck decision – established clear and present danger test  Brandenburg test – created imminent and lawless action test  (any speech is legal as long as it doesn’t enact lawless action  like yelling fire in public)

∙ 2nd amendment – right to bear arms

 DC v. Heller (2008) – 2nd amendment does relate to the right  of individuals to bear arms

∙ 3rd amendment – protected from being forced to house troops in  your home

∙ 4th amendment – protection against unreasonable searches and  seizures  

 probable cause – law enforcement needs legal and probable  cause to conduct a search unless given consent. “a  

reasonable person based on sufficient evidence would think  that a crime has been committed”

 warrant- have to demonstrate probable cause in order to  obtain a warrant. Have to be specific.  

 discretion- police can use their discretion to determine  punishment (unwritten law)

 plain view- can use evidence in “plain view” even if not  specifically stated in search warrant  

 plain smell- if officer can smell drugs he can search your car  main way to waive 4th amendment rights: consent  

 NEVER physically resist law enforcement, always fight it out in court

∙ John Corzine – well respected CEO of MF Global, billions of dollars  evaporated overnight under his watch

August 31, 2016

More amendments

∙ 5th amendment – Habeas corpus: “fundamental safeguard for individual freedom against an arbitrary government”  

 right to remain silent

 Miranda rights – does not have to be read right after arrest, you  can ask “officer am I being detained or am I free to go?”, you  also have to be read Miranda rights before potentially  

incriminating questions

 Cant testify against yourself in a court of law

 Salinas v Texas – if you start answering questions then suddenly  stop, your silence can be used against you in court

 Exigent circumstances – if officer/public safety comes into  question Miranda rights don’t necessarily have to be read

 Double jeopardy doctrine – cannot be tried for the same crime at  the same level of court twice  

 Grand jury process – preliminary check before trial starts to  decide whether or not there is probable cause and sufficient  evidence  

 Indictment – formal notice of what you’re being charged with  Due process – overall fairness in the criminal justice system (only for federal criminal cases)

∙ 6th amendment – right to a fair trial

 speedy trial doctrine – now its backlogged so much but it was  intended to make trial happen within months of crime

 public trial – everyone has the right to a public trial, exceptions  military, grand jury trials  

∙ 7th amendment – guarantees the right to a jury trial in civil suits  involving $20 or more

 only amendment that pertains solely to civil law

∙ 8th amendment – protection against cruel and unusual punishment  Furman v Georgia – application of death penalty is inconsistent,  supreme court said you have to be consistent with capital  punishment

 Protects us against excessive fines and excessive bail

 Bail v. bond

∙ Bail – temporary release of an accused person awaiting  trial, sometimes on condition that a sum of money be  

lodged to guarantee their appearance in court, the person  gets money back if they do what they’re supposed to do

∙ Bond – dealing with a third party (not directly relating with  court)

September 2, 2016

∙ 9th amendment – protects our un enumerated rights (rights that aren’t  directly written down)

o right to privacy  

∙ 10th amendment – separation of state v federal powers, any rights not  specifically enumerated to federal government are given to the states.  other laws  

∙ 14th amendment – due process clause (no state shall deny a person of  life, liberty, property without due process of law), equal protection  clause (regardless to race, ethnicity, etc. you are equally protected  under the bill of rights)

∙ Bills of Attainder

o constitution prohibits congress from passing bills of attainder  (declaring people guilty of a crime in the absence of a trial) ∙ Ex post facto laws

o you’re protected for any act that was not criminal when  committed  

important cases

∙ Schenck v. United States (1919) – Schenck mailed out letters to people  against the military draft

o court said it established “clear and present danger test” o falsely shouting fire in a crowded theatre

∙ Brandenburg v. Ohio – government can’t punish inflammatory speech  unless that speech is directed to incite imminent lawless action o Brandenburg Test:  

 Intent – mens rea: the guilty mind, was the person trying to cause harm

 Imminence – time proximity, how likely was the speech to  cause a riot right then and there

 Likelihood – how likely was the speech to cause imminent  and lawless action (was speech in front of a few people or  thousands of people)

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