Trump weighing changes to Foreign Corrupt Practices Act to allow US business to bribe foreign officials (1 Viewer)

[superchuck500]

So two things here: (1) Kudlow's confirmation today gives credibility to the portrayal in the upcoming book A Stable Genius, will be interesting to see if Trump tries to walk that back. But more importantly, (2) the man who's defense on impeachment charges is that he was rooting out corruption in Ukraine as a matter of national policy and not personal political interest, literally endorsed (allegedly) one of the most basic forms of corruption - the bribe of local officials for business deals. The man genuinely doesn't see the problem and thinks it puts US business at a competitive disadvantage - I'd say that's alarming but at this point, it's not even surprising.

President Donald Trump’s administration is weighing whether to seek changes to a 1977 law that makes it illegal for U.S. companies to bribe foreign officials.

“We are looking at it,” White House Economic Adviser Larry Kudlow said at the White House on Friday, in response to a reporter’s question about the Foreign Corrupt Practices Act. “I would just say: We are aware of it, we are looking at it, and we’ve heard complaints from some of our companies,” Kudlow said. “I don’t want to say anything definitive policy-wise, but we are looking at it.”

A forthcoming book called “A Very Stable Genius: Donald J. Trump’s Testing of America,” by Washington Post reporters Philip Rucker and Carol D. Leonnig, reports that Trump has complained about existing rules, and that he clashed with former Secretary of State Rex Tillerson in 2017 when Trump pushed to scrap the FCPA.

“It’s just so unfair that American companies aren’t allowed to pay bribes to get business overseas,” Trump said, according to an passage published by the Post. “We’re going to change that.”

White House Considers Changes to Law Banning Overseas Bribes

“It’s just so unfair that American companies aren’t allowed to pay bribes to get business overseas,” Trump said, according to a passage published by the Post. “We’re going to change that.”

www.bloomberg.com

 

[wardorican]

It would be nice, that if, instead of bribes, companies would just pay their workers better. Maybe paying workers better will encourage people to give more effort and thus, the product or service provided will be so good, a bribe isn't really needed...

 

[superchuck500]

It would be nice, that if, instead of bribes, companies would just pay their workers better. Maybe paying workers better will encourage people to give more effort and thus, the product or service provided will be so good, a bribe isn't really needed...

That’s precious Ward

 

[Dadsdream]

So, are there any countries where as a matter of culture and standard practice, bribery is a norm? Well, well . . . look at Ukraine!

20 Countries Where Bribery In Business Is Common Practice

Public firms in each of these countries regularly report receiving bribe requests, with much of Asia and Africa and former Soviet states having particularly high incidence.

www.worldatlas.com

Rank	Country	% of Public Firms Receiving Bribe Requests
1	Cambodia	69.4%
2	Yemen	64.3%
3	Kyrgyzstan	59.8%
4	DR Congo	56.5%
5	Ukraine	50.4%
6	South Sudan	48.0%
7	Bangladesh	47.7%
8	Afghanistan	46.8%
9	Myanmar	42.9%
10	Iraq	37.3%
11	Laos	37.3%
12	Morocco	37.2%
13	Tajikistan	36.3%
14	Mongolia	33.4%
15	Madagascar	32.9%
16	Moldova	31.0%
17	Pakistan	30.8%
18	Burundi	30.3%
19	Mauritania	28.9%
20	Nigeria	28.9%

 

[superchuck500]

Not sure if what the point of that is.

But this is clearly an area where the US has to lead. Bribery of awarding officials is a disease - we don’t tolerate it in the US and we can’t tolerate it perpetrated by Americans abroad. It makes for messy relationships.

 

[MT15]

It’s a distraction, Chuck, it’s become very predictable.

 

[superchuck500]

It’s a distraction, Chuck, it’s become very predictable.

I don’t think it’s a distraction - I think Kudlow was asked about because it’s in the new book and he basically admitted it was a thing.

I can’t imagine bringing it up is something the White House planned.

 

[wardorican]

That’s precious Ward

I know it is a pipe dream...

 

[cuddlemonkey]

I don’t think it’s a distraction - I think Kudlow was asked about because it’s in the new book and he basically admitted it was a thing.

I can’t imagine bringing it up is something the White House planned.

I could be wrong, but I believe she was referring to someone bringing up Ukraine on a spreadsheet for no reason.

 

[superchuck500]

I could be wrong, but I believe she was referring to someone bringing up Ukraine on a spreadsheet for no reason.

Ah, got it. Thx

 

[dtc]

I don’t think it’s a distraction - I think Kudlow was asked about because it’s in the new book and he basically admitted it was a thing.

I can’t imagine bringing it up is something the White House planned.

That's not what she was talking about.

 

[superchuck500]

That's not what she was talking about.

Yeah I saw that - like two posts down

 

[samiam5211]

Trying to keep Ivanka out of jail.

Ivanka Trump played key role in her father’s failed — and potentially corrupt — Azerbaijan hotel deal, report says

Ivanka Trump boasted about overseeing development of the Trump International Hotel in Azerbaijan, a project that never opened and that could be in violation of federal anti-corruption laws.

www.google.com

 

[SystemShock]

So, are there any countries where as a matter of culture and standard practice, bribery is a norm? Well, well . . . look at Ukraine!

20 Countries Where Bribery In Business Is Common Practice

Public firms in each of these countries regularly report receiving bribe requests, with much of Asia and Africa and former Soviet states having particularly high incidence.

www.worldatlas.com

Rank	Country	% of Public Firms Receiving Bribe Requests
1	Cambodia	69.4%
2	Yemen	64.3%
3	Kyrgyzstan	59.8%
4	DR Congo	56.5%
5	Ukraine	50.4%
6	South Sudan	48.0%
7	Bangladesh	47.7%
8	Afghanistan	46.8%
9	Myanmar	42.9%
10	Iraq	37.3%
11	Laos	37.3%
12	Morocco	37.2%
13	Tajikistan	36.3%
14	Mongolia	33.4%
15	Madagascar	32.9%
16	Moldova	31.0%
17	Pakistan	30.8%
18	Burundi	30.3%
19	Mauritania	28.9%
20	Nigeria	28.9%

Where is Mexico?!? I am offended

 

[Dadsdream]

Where is Mexico?!? I am offended

It was taken off the list after the author payed the ransom for his nephew.