First I would like to quote Kevin Phillips – “Between 1981 and 1987, the nation lost over 1 million manufacturing jobs. Earning for male high school graduates with one to five years of work experience declined by 18 percent. The average after-tax family income dropped 10 percent”. As per my understanding and opinion, he gave this statistical data to imply the fact that one the economic trend has been recession, which indulged people to engage themselves in white collar and blue collar crimes along with other financial frauds. In the year of 1980 and the following years, USA faced deep recession because of disinflationary monetary policy, which was adopted by the hands of Federal Reserve.