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Accounting Fraud by Gary Giroux

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CHAPTER 4

War and Post–World War II Business and Corruption

Then came the 1970s. The old aversion to lawsuits fell by the wayside.It became easier to borrow money. Federal regulations were relaxed. Markets became internationalized. Investors became more aggressive, and the result was a boom in the number and size of corporate takeovers.

—Malcolm Gladwell

World War II business was about the war effort and avoiding war profiteering. Senator Harry Truman led a special senate committee on the national defense program (Truman Committee), propelling him to the vice presidency and the White House. As with all wars, war profiteering was, in fact, rampant. It was estimated that Truman Committee findings saved the country $10–15 billion, when a billion ...

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