The new guidelines by the US Justice Department emphasized that not only the corporations but also the executives can be prosecuted for white collar crimes. The guidelines will be announced at the New York University Law Schools by the Deputy Attorney General Sally Yates, who is the author of the memo that outlines the rules of federal prosecutors. The New York Times obtained the memo that came out in response to the criticism that Obama administration did not engage the individuals in financial meltdown during the housing crisis in 2008-2009 as well as in the corporate scandals reported the newspaper.
The Justice Department is clear in defining crime whether it is conducted in the board room or on the streets. She added that white collar crimes are not only for corporate entities but also for white collar employees. Yates added that the department wants to change the corporate culture especially by distinguishing the cost of wrongdoing instead of considering liability as a cost of business doing. Yates informed that corporate establishments cannot get brownie points for cooperating unless they come out with the employees that are responsible for the crime. Ranks and seniority should not be a hindrance in identifying the culprits.
From the beginning of the investigation, both civil and criminal lawyers should focus on the employees. Moreover, it was added that cases pending on the corporate should not be solved without the case against individuals cleared. Yates also made it clear that low level employees will not take the blame, especially in criminal cases.