A sociological deconstruction of the public response to Bernie Madoff and his crimes. Bernie Madoff’s arrest could not have come at a more darkly poetic moment. Economic upheaval had plunged America into a horrid recession. Then, on December 11, 2008, Madoff’s $65 billion Ponzi scheme came to light. A father turned in by his sons; a son who took his own life; another son dying and estranged from his father; a woman at the center of a storm—Madoff’s story was a media magnet, voraciously consumed by a justice-seeking public. Bernie Madoff and the Crisis goes beyond purely investigative accounts to examine how and why Madoff became the epicenter of public fury and titillation. Rooting her argument in critical sociology, Colleen P. Eren analyzes media coverage of this landmark case alongside original interviews with dozens of journalists and editors involved in the reportage, the SEC Director of Public Affairs, and Bernie Madoff himself. Turning the mirror back onto society, Eren locates Madoff within a broader reckoning about free market capitalism. She argues that our ideological and cultural tendencies to attribute blame to individuals—be they regulators, victims, or “monsters” like Madoff—distracts us from more systemic critiques. Bernie Madoff and the Crisis offers fresh insight into the 2008 crisis, whether we have come to terms with it, and what we have yet to gain from the case of the century. Praise for Bernie Madoff and the Crisis “Eren crafts a narrative of Bernie Madoff’s crimes as a sweeping comment on our society at large, which created and upheld the kill-or-be-killed finance ethos, and thereby produced the twenty-first century version of a Wall Street serial killer.” —Erin Arvedlund, author of Too Good to Be True: The Rise and Fall of Bernie Madoff “There is important primary data here and a creative analysis. Eren makes a notable contribution to the literature on financial crime, as well as our understanding of the role that the Madoff case played during an unfolding financial crisis.” —Kitty Calavita, University of California, Irvine, author of Big Money Crime “Eren uses massive amounts of media commentary and interviews—with journalists and Madoff himself—to reveal salient points about the contemporary economy, society, and its demonology. An easy read, and an informative one as we continue to sift through the ashes of the financial crisis and our societal stance on white collar crime.” —Michael Levi, Cardiff University and author of The Phantom Capitalists and Regulating Fraud
How one law tells the story of America's modern criminal justice movement In late 2018, the First Step Act was signed into law by President Donald Trump just hours before a government shutdown. It was one of few major pieces of federal criminal justice reform since the 1970s to move toward reversing the incarceration frenzy that had characterized United States policy. While it did not amount to revolutionary reform, in Reform Nation, Colleen P. Eren investigates it as a symbol for the larger movement's trajectory. Its unlikely passage during a period of political polarization was testament to the power of a new constellation of advocates, stakeholders, and strange bedfellow alliances. These intriguing and complex dynamics are indicative of a longer, twenty-year shift in which the movement became nationalized and mainstreamed. Using in-depth interviews with major players in the national movement, formerly incarcerated activists, celebrities, and donors, this is the first book to turn the mirror back on the criminal justice reform movement itself—the frames used, the voices heard, the capital activated among elite participants, and the bitter controversies. This snapshot in time raises much larger questions about how our democratic processes inform criminal justice policy, and where we are going in the decades to come.
A sociological deconstruction of the public response to Bernie Madoff and his crimes. Bernie Madoff’s arrest could not have come at a more darkly poetic moment. Economic upheaval had plunged America into a horrid recession. Then, on December 11, 2008, Madoff’s $65 billion Ponzi scheme came to light. A father turned in by his sons; a son who took his own life; another son dying and estranged from his father; a woman at the center of a storm—Madoff’s story was a media magnet, voraciously consumed by a justice-seeking public. Bernie Madoff and the Crisis goes beyond purely investigative accounts to examine how and why Madoff became the epicenter of public fury and titillation. Rooting her argument in critical sociology, Colleen P. Eren analyzes media coverage of this landmark case alongside original interviews with dozens of journalists and editors involved in the reportage, the SEC Director of Public Affairs, and Bernie Madoff himself. Turning the mirror back onto society, Eren locates Madoff within a broader reckoning about free market capitalism. She argues that our ideological and cultural tendencies to attribute blame to individuals—be they regulators, victims, or “monsters” like Madoff—distracts us from more systemic critiques. Bernie Madoff and the Crisis offers fresh insight into the 2008 crisis, whether we have come to terms with it, and what we have yet to gain from the case of the century. Praise for Bernie Madoff and the Crisis “Eren crafts a narrative of Bernie Madoff’s crimes as a sweeping comment on our society at large, which created and upheld the kill-or-be-killed finance ethos, and thereby produced the twenty-first century version of a Wall Street serial killer.” —Erin Arvedlund, author of Too Good to Be True: The Rise and Fall of Bernie Madoff “There is important primary data here and a creative analysis. Eren makes a notable contribution to the literature on financial crime, as well as our understanding of the role that the Madoff case played during an unfolding financial crisis.” —Kitty Calavita, University of California, Irvine, author of Big Money Crime “Eren uses massive amounts of media commentary and interviews—with journalists and Madoff himself—to reveal salient points about the contemporary economy, society, and its demonology. An easy read, and an informative one as we continue to sift through the ashes of the financial crisis and our societal stance on white collar crime.” —Michael Levi, Cardiff University and author of The Phantom Capitalists and Regulating Fraud
How one law tells the story of America's modern criminal justice movement In late 2018, the First Step Act was signed into law by President Donald Trump just hours before a government shutdown. It was one of few major pieces of federal criminal justice reform since the 1970s to move toward reversing the incarceration frenzy that had characterized United States policy. While it did not amount to revolutionary reform, in Reform Nation, Colleen P. Eren investigates it as a symbol for the larger movement's trajectory. Its unlikely passage during a period of political polarization was testament to the power of a new constellation of advocates, stakeholders, and strange bedfellow alliances. These intriguing and complex dynamics are indicative of a longer, twenty-year shift in which the movement became nationalized and mainstreamed. Using in-depth interviews with major players in the national movement, formerly incarcerated activists, celebrities, and donors, this is the first book to turn the mirror back on the criminal justice reform movement itself—the frames used, the voices heard, the capital activated among elite participants, and the bitter controversies. This snapshot in time raises much larger questions about how our democratic processes inform criminal justice policy, and where we are going in the decades to come.
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