Billions Quote by Molly Ivins
“We've got the emPHAsis on the wrong sylLAble when it comes to crime in this country. The FBI says burglary and robbery cost U.S. taxpayers $3.8 billion annually. Securities fraud alone costs four times that. And securities fraud is nothing to the cost of oil spills, price-fixing, and dangerous or defective products. Fraud by health-care corporations alone costs us between $100 billion and $400 billion a year. No three-strikes-and-you're-out for these guys. Remember the S&L scandal? $500 billion.”
About This Quote
Source Speech: Commentary on U.S. crime costs, 1990s
Highlights the disproportionate focus on violent crime while financial and corporate fraud cause far greater economic damage.
In simple terms: We focus on the wrong crimes, missing larger financial harms.
Key Takeaway
Shift attention to systemic fraud.
Themes
crime
economics
policy
justice
Mood
critical
concerned
Type
analytical
explanatory
When to use this quote
- government budgeting
- corporate compliance
- public awareness
- legislative reform
Key Concepts
public policy
risk assessment
regulation
Questions to Reflect On
- How can policy prioritize hidden economic harms?
- What mechanisms can improve fraud detection?
A Different Perspective
Financial fraud is harder to detect and prosecute than street crime.
