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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: ChrisJP who wrote (19492)12/24/2004 3:34:30 PM
From: maceng2  Read Replies (1) | Respond to of 116555
 
Thanks for the web site link. It has some good introductory pages..

Lay-Person's Guide to the FCPA Statute (June 2001)

<<As a result of SEC investigations in the mid-1970's, over 400 U.S. companies admitted making questionable or illegal payments in excess of $300 million to foreign government officials, politicians, and political parties. The abuses ran the gamut from bribery of high foreign officials to secure some type of favorable action by a foreign government to so-called facilitating payments that allegedly were made to ensure that government functionaries discharged certain ministerial or clerical duties. Congress enacted the FCPA to bring a halt to the bribery of foreign officials and to restore public confidence in the integrity of the American business system.>>

usdoj.gov

OK, but what George Pratt Shultz is talking about is where (according to his book) USA government agencies set up an arrangement of convenience where USA companies get the cream of the contracts in doing business in another country. The language of the FCPA seems to be wholly directed at making sure USA companies do not use corruption as a technique for obtaining foriegn contracts, it does not really mention USA government departments, unless I have missed something here.

There are web sites and data that suggest George P. Shultz has opinion with a reputation of worth.

ustreas.gov

ustreas.gov

/edit. One last point. There has to be an element of salesmanship in just making ones view heard. The are so many billion of us, it takes some effort to make ones views heard above others. So the point about "salesmanship" does not negate the views stated as I see it. It would take some other type of evidence to diminish George Pratt Shultz statements.