The study was conducted under the auspices of a Federal probation office located in a major urban center. The sampled offenders had been convicted of a wide range of white collar crimes such as embezzlement, securities and exchange violations, antitrust violations, postal and wire fraud, and income tax evasion. Before their convictions, they had respectable careers as lawyers, dentists, stockbrokers, and businessmen. Status degradation of offenders occurred through characterizations of the offense and the offender by prosecutors and news media. Some offenders, however, did not receive media attention, demonstrating that criminal adjudication occurs in a context of unequal power relationships. Prosecution and conviction involved the white collar offender in a loss of status, and loss of status led to anger directed at those responsible for the loss. It was determined that white collar offenders may evoke feelings of rage and hostility as a means of working through or managing feelings of embarrassment and shame. It was also determined that offenders lack a sense of repentance because of the punishment-oriented and stigmatizing nature of the adjudicatory system and that the American approach to justice emphasizes punishing criminal behavior rather than inducing responsible behavior. 28 references