Half a decade into a new global economic crisis, most policymakers, pundits, and scholars discuss the situation in nongendered ways, carting out long-standing criticisms of bloated states or of neoliberalism, despite powerful feminist critiques. At the same time, feminist scholars, particularly those within feminist political science (FPS) studying advanced democracies, have been struggling with a “central paradox . … The widespread formal adoption and development of … gender equality … initiatives … [but] their partial and variable institutionalization in terms of impact on institutional practices, norms, and outcomes” (Mackay, Monro, and Waylen 2009, 254–55). In this article, we make a case for a feminist theory of political corruption that can help explain both the economic crisis and this paradox of “strong equality policy, weak practice.”