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Ethan Couch Case Paper

595 Words3 Pages

I have couple of examples, but one out of the most interesting cases in the US is the case of Ethan Couch. At the time of his crime Ethan was only 16 years old. Coming from a very wealthy family in California, Ethan never knew struggles of everyday life of others. On June 15 of 2013 Ethan was driving his father’s truck with 7 other people inside, running into another vehicle in the residential area and killing 4 people and injuring 7. Ethan had restricted license, he was speeding, driving under influence of alcohol and drugs (Mitchell, 2014). Even though the teen was charged with multiple counts of manslaughter, driving intoxicated, and the prosecution asked for 20 years in prison, the judge only gave him probation and sent him to the rehab …show more content…

Agencies like Moody’s Investors Service, Standard&Poor’s and Fitch Ratings, to make big money were giving the best ratings AAA to the loans that shouldn’t been approved including bad credit and undocumented income factors (Smith, 2008). With good ratings, the loans get sold by the bank to the investors, homeowners could not afford the house, can’t refinance out of adjustable rate mortgage, making this cascading effect all the way down from investors to regular people as victims. Hundreds of billions dollars were downgraded to “junk” status and losses came to half of a trillion dollars (Wikipedia, n.d.). While a lot of law suits were started against Standard & Poor’s, none of the executives were actually sentences for the fraud, and most of the lawsuits were settled with the fine. (Reuters, 2013). One more example is Molly Bloom, who used to be a professional skier and ended up being charged with running an illegal high profile gambling ring in LA and New York, money laundering, extortion and fraud. Even though she faced 10 years in prison, she was only sentenced to one year probation, fines and community services (Wikipedia, n.d.) Molly lost all her profits from organizing and running poker games. Even though she pleaded guilty to some charges, she absolutely denied having any involvement in any schemes, fraud, or connection to “dirty

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