Reveals some of the rationale behind prosecutors’ anemic response against the banks [complicit in the recent financial meltdown], and the deep disconnect with populist anger over the fact that no executives have ended up behind bars.
Washington Monthly - Bailey Miller
It is a first virtue of Garrett’s book that he places issues around crime in financial institutions in the broader context of corporate crime… Much of what law professors write is prescriptive but without a strong empirical foundation. This has started to change in recent years and Garrett’s work represents a further advance. He is to be hugely commended for the laborious task of compiling a database on every significant corporate prosecution in the 21st century that resulted either in a conviction or some kind of agreement between prosecutors and the corporation in question. Better yet, he makes this data available for other scholars on his university website. In addition to drawing on this database, Garrett provides narratives of some of the major cases that keep the reader at the edge of his seat. The reader emerges with a much greater sense of the complexities involved in responding to corporate crime… Garrett’s data and his narrative provide a textured understanding of [the] trade-offs…in dealing with corporate crime. And he provides a thoughtful and balanced set of recommendations for improving the process through, for example, more judicial involvement in enforcing deferred prosecution arrangements, better efforts to detect corporate crime and more efforts to hold individuals accountable. All of his advice seems reasonable, as does his conclusion that corporate prosecutions themselves are too important to fail… Like the poor, corporate criminals will always be with us. All future considerations of what to do about them should draw on Brandon Garrett’s important work.
Financial Times - Lawrence Summers
[Garrett’s] book is the first systematic accounting of how many corporate prosecutions and settlements there have been in the last decade and how they work… Thankfully, given the data-heavy nature of his work, Garrett writes lucidly and with passion. His account is devastating… He convincingly demonstrates that the Justice Department is scared to indict the biggest companies in America.
Too Big to Jail is a superb and comprehensive book, backed up by impressive original research. What is most striking, and most valuable, is that it drives home how amazingly new and bizarre is the current field of prosecuting corporations.
Garrett was curious to know how the U.S. criminal justice system works when large companies behave badly. When he discovered that no one keep any records he created his own, now accessible online as a public resource. His analysis lays the foundation for an overdue debate.
Financial World - Celia Hampton
Garrett presents for a lay readership a detailed and comprehensive examination of deferred corporate prosecutions, and corporate criminal prosecutions generally, and concludes that they have been, on the whole, ineffective… Garrett—on the basis of his own painstaking gathering of evidence (for neither the Department of Justice nor any other governmental entity keeps detailed and complete records of how such agreements are implemented over time)—finds that many, perhaps most such agreements, while often obscuring who was personally responsible for the company’s misconduct, fail to achieve meaningful structural or ethical reform within the company itself… The breadth of Garrett’s investigation, the wealth of detail he uses to support his conclusions, and the clarity of his prose make this an important book for laymen and experts alike.
New York Review of Books - Jed S. Rakoff
[Garrett's] book is the first systematic accounting of how many corporate prosecutions and settlements there have been in the last decade and how they work... Thankfully, given the data-heavy nature of his work, Garrett writes lucidly and with passion. His account is devastating... He convincingly demonstrates that the Justice Department is scared to indict the biggest companies in America.--Jesse Eisinger "American Prospect" (7/1/2015 12:00:00 AM) Garrett offers a cri de coeur for more corporate criminal prosecutions. Using data that he compiled, the author demonstrates that the U.S. Department of Justice has been inconsistent in its enforcement of relevant laws... What distinguishes this title from others is its clear discussion of the corporate misdeeds. It contrasts pious pronouncements by companies with details of greed and evasion. Garrett questions why high-ranking corporate officers are not prosecuted. The government, he maintains, lacks the resources and inclination to close errant businesses. Instead, it prefers fines, deferred prosecution agreements, and highly paid monitors. Much of the book details failures in prosecutions, such as not prosecuting corporate officers and failing to consider victims' interests. The best part of the work is the author's charts; these show that environmental crimes have been prosecuted vigorously, but food and drug violations much less so... A well-written, detailed exposé.--Harry Charles "Library Journal" (11/15/2014 12:00:00 AM) Garrett presents for a lay readership a detailed and comprehensive examination of deferred corporate prosecutions, and corporate criminal prosecutions generally, and concludes that they have been, on the whole, ineffective... Garrett--on the basis of his own painstaking gathering of evidence (for neither the Department of Justice nor any other governmental entity keeps detailed and complete records of how such agreements are implemented over time)--finds that many, perhaps most such agreements, while often obscuring who was personally responsible for the company's misconduct, fail to achieve meaningful structural or ethical reform within the company itself... The breadth of Garrett's investigation, the wealth of detail he uses to support his conclusions, and the clarity of his prose make this an important book for laymen and experts alike.--Jed S. Rakoff "New York Review of Books" (2/19/2015 12:00:00 AM) Garrett presents research on criminal behavior by corporations in the United States and overseas... While Garrett is mostly pessimistic about the ability of prosecutors to reduce corporate crime or to properly compensate the victims, he does find a few promising minitrends... Garrett combines groundbreaking research with clear writing and moral outrage.-- "Kirkus Reviews (starred review)" (9/15/2014 12:00:00 AM) Garrett was curious to know how the U.S. criminal justice system works when large companies behave badly. When he discovered that no one keep any records he created his own, now accessible online as a public resource. His analysis lays the foundation for an overdue debate.--Celia Hampton "Financial World" (2/1/2015 12:00:00 AM) It is a first virtue of Garrett's book that he places issues around crime in financial institutions in the broader context of corporate crime... Much of what law professors write is prescriptive but without a strong empirical foundation. This has started to change in recent years and Garrett's work represents a further advance. He is to be hugely commended for the laborious task of compiling a database on every significant corporate prosecution in the 21st century that resulted either in a conviction or some kind of agreement between prosecutors and the corporation in question. Better yet, he makes this data available for other scholars on his university website. In addition to drawing on this database, Garrett provides narratives of some of the major cases that keep the reader at the edge of his seat. The reader emerges with a much greater sense of the complexities involved in responding to corporate crime... Garrett's data and his narrative provide a textured understanding of [the] trade-offs...in dealing with corporate crime. And he provides a thoughtful and balanced set of recommendations for improving the process through, for example, more judicial involvement in enforcing deferred prosecution arrangements, better efforts to detect corporate crime and more efforts to hold individuals accountable. All of his advice seems reasonable, as does his conclusion that corporate prosecutions themselves are too important to fail... Like the poor, corporate criminals will always be with us. All future considerations of what to do about them should draw on Brandon Garrett's important work.--Lawrence Summers "Financial Times" (11/21/2014 12:00:00 AM) Reveals some of the rationale behind prosecutors' anemic response against the banks [complicit in the recent financial meltdown], and the deep disconnect with populist anger over the fact that no executives have ended up behind bars.--Bailey Miller "Washington Monthly" (11/1/2014 12:00:00 AM)Too Big to Jail is a superb and comprehensive book, backed up by impressive original research. What is most striking, and most valuable, is that it drives home how amazingly new and bizarre is the current field of prosecuting corporations.--Samuel Buell, Duke University Garrett highlights the disconnect between how federal prosecutors treat drug, immigration, and other violators, and how they treat firms engaging in criminal conduct. This is the first serious effort to look across all corporate prosecutions and assess the government's regulatory effectiveness.--Daniel Richman, Columbia University
[Garrett’s] book is the first systematic accounting of how many corporate prosecutions and settlements there have been in the last decade and how they work… Thankfully, given the data-heavy nature of his work, Garrett writes lucidly and with passion. His account is devastating… He convincingly demonstrates that the Justice Department is scared to indict the biggest companies in America.
American Prospect - Jesse Eisinger
11/15/2014 Garrett (law, Univ. of Virginia Sch. of Law) offers a cri de coeur for more corporate criminal prosecutions. Using data that he compiled, the author demonstrates that the U.S. Department of Justice has been inconsistent in its enforcement of relevant laws. The book begins with a discussion of the prosecution of German company Siemens for paying foreign bribes. What distinguishes this title from others is its clear discussion of the corporate misdeeds. It contrasts pious pronouncements by companies with details of greed and evasion. Garrett questions why high-ranking corporate officers are not prosecuted. The government, he maintains, lacks the resources and inclination to close errant businesses. Instead, it prefers fines, deferred prosecution agreements, and highly paid monitors. Much of the book details failures in prosecutions, such as not prosecuting corporate officers and failing to consider victims' interests. The best part of the work is the author's charts; these show that environmental crimes have been prosecuted vigorously, but food and drug violations much less so. VERDICT A well-written, detailed exposé for all audiences.—Harry Charles, St. Louis
★ 2014-08-26 Garrett (Law/Univ. of Virginia; Convicting the Innocent: Where Criminal Prosecutions Go Wrong, 2011, etc.) presents research on criminal behavior by corporations in the United States and overseas. According to certain statutes in U.S. law, corporations can be treated like individual people. However, attempting to prosecute corporations for criminal behavior is much more difficult than prosecuting individual defendants for nearly any charge. Garrett, who previously focused on wrongful convictions of individual murderers and rapists, examines prosecutors who have decided to charge corporations with crimes—or decided against it, even though victims abounded. Since no government agency or private group has collected reliable data about prosecutions of corporations by the federal government, state governments or county-based district attorneys, Garrett describes how he developed a database, as well as the holes in the data. He finds that federal prosecutors, despite their vaunted powers, are cast in the role of David, not Goliath, when seeking to punish multinational corporations with nearly unlimited budgets to hire lawyers. The prosecutors courageous enough to mount cases against corporations fail to go after high-level individuals within those corporations, lessening any deterrence effect. While Garrett is mostly pessimistic about the ability of prosecutors to reduce corporate crime or to properly compensate the victims, he does find a few promising minitrends. These include trying to alter corporate culture through deferred prosecutions and asking judges to appoint objective monitors to oversee corporate practices. The author finds unique hope in the prosecution of Siemens (ranked in the top 50 of the Fortune Global 500 list of largest corporations in the world), which admitted wrongdoing and seems determined, under current leadership, to act ethically while maintaining profits originally thought to emanate in part from bribery and other unsavory activities. Garrett combines groundbreaking research with clear writing and moral outrage.