Different forms of white-collar crime have been numerously depicted in films. One of the films that depicted white-collar crime is “Boiler Room”, a 2000 drama by Ben Younger. This paper presents a personal reflection on the film from the perspective of analyzing the depiction of white-collar crime.
Reflection
Paralleling the different categories of white-collar crimes analyzed in class, it can be stated that the films depict the category of organizations victimizing individuals. In that regard, the victims of white-collar crime were the clients-investors of the brokerage firm J.T. Marlin, also called whales in the film. An example of one of the victims-whales is Harry Reynard, who lost all his life savings to the firm.
The main characteristics of the “whales” in the film and the likes of Harry are the main driving force of the work of brokerage firms, even the most respectable ones, which is the dream of fast money. Having the main idea that the main idea in stock firms is buying low and selling high, the victims are naïve in their dreams of becoming millionaires, which is simplified to giving money to the broker and waiting for the profit to buy a dream house, a dream car, etc. In that regard, the victims in the “Boiler Room” play the major role, where the brokers only slightly push them to make the decision of making “a wise investment” and start earning 30-40 percent in profit.
The impact of the victimization is identical, which is losing their saving in various amounts. For some, it is the live savings, while for others it’s a small sum of money, through which they merely try the role of investors. It should be noted that based on the example of Harry, it is rarely that the investments of the clients are restricted to small sums. The promises that a larger investment will compensate losses gradually drag victims into putting all their life savings in brokers’ hands.
Personally, my first reaction was anger on the way some people can be so naïve. However, this reaction soon changed shifted toward the brokers’ themselves, as I do believe that utilizing psychology in such way, they left little chances for the victims to change their mind. In that regard, it is difficult to state whether the personal reaction would be different than the one depicted in the film.
Definitely, the victims of street crime and white collar crime cannot be compared in terms of consequences, specifically when the life of the person is at stake, although they are very close. Accordingly, the empathy would have changed, if the film showed the consequences of losing the money for the victims, including such aspects such as living on the street, selling all belongings, and at some cases killing themselves. In that regard, the difference between the empathy for street crime and white collar crime would have been narrowed greatly.
The main theme that can be outlined through the film is that white collar crime is a crime, and although criminals might differ, the consequences are still the same. Using one’s position to participate in an act of fraud is a crime based on greed and corruption, and wrapped in good suits, financial promises of wealth and dreams of quick fortune.
References
Younger, B. (Writer). (2000). Boiler Room [DVD]. In C. R. Polstein & E. B. Walsh (Producer). USA: New Line Home Video.