Corporate Crime Enforcement: A Detailed Analysis of Recent Trends
Concerns Over Corporate Crime Enforcement
A recent report published by Public Citizen has raised significant concerns about corporate crime enforcement in the United States. The analysis points to a persistent decline under President Joe Biden, offering a critical viewpoint on his administration’s approach to holding corporations accountable for illicit activities. Furthermore, the report anticipates a concerning trajectory as Donald Trump re-enters the presidency, bringing with him a team of individuals with deep ties to the business sector.
Declining Prosecutions under Biden
During his last year in office, President Biden’s Justice Department prosecuted only 80 corporations, making it the lowest total in three decades. Public Citizen’s report indicates that over the entirety of Biden’s term, the Department of Justice (DOJ) initiated fewer corporate prosecutions than any previous president in their corresponding four-year terms.
Implications of a Trump Presidency
The report suggests that the early months of Trump’s second administration could further exacerbate corporate crime enforcement issues. Corporate prosecutions dropped dramatically during Trump’s first term, and early signals indicate a similar pattern could emerge now. Public Citizen highlights that Trump’s current DOJ has already suspended or dismissed more than 100 enforcement actions related to corporate misconduct.
Transitioning Investigations and Lobbyist Influence
According to Public Citizen, the Trump administration has inherited a significant number of investigations—at least 188 cases—related to alleged corporate misconduct from the Biden administration. Of these, 27 investigations have been put on hold, and ten have already been dismissed. This trend points to a troubling pivot towards reduced accountability for corporate actors.
Pardons for Corporate Crimes
Adding to the scrutiny is the fact that during his first term, Trump issued what may be the inaugural presidential pardon for a corporate crime, granting clemency to the cryptocurrency exchange BitMEX.
Outlook for Corporate Enforcement
Rick Claypool, the research director at Public Citizen and the author of the report, emphasized the implications of these findings, stating that “the Biden administration’s broken promise to crack down on corporate crime was a tragic missed opportunity.” With Trump’s resurgence in power, there is a prevailing fear that corporate crime enforcement may decline even further from the already low benchmarks set during Biden’s administration.
