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Discussion in 'Political Issues' started by maxsnafu, May 2, 2012.
So you want to legalize money-laundering? Is that a Republican thing?
The story was about bribery in foreign countries. That has nothing to do with money laundering, which is making illegally earned money look like legally earned money.
Anything that deprives the government of revenue is a good thing.
Tax evaders are modern patriots
Absolutely right. So why is Obama being taken to account for how foreign countries enforce their own laws. Obama is only enforcing OUR laws on the matter (money laundering).
I didn't see anything about money laundering. I saw an article about foreign corrupt practices act, which I think is kind of silly......getting in trouble in the U.S for paying customary bribes in another country????
They tried to hide it on the books.
Bribes may be customary in other countries, but that doesn't make them legal - even in those countries.
I think the issue is the bribery is a normal part of doing business in the third world, but we have some goody-2-shoes laws that make it a crime for an American to bribe somebody in a foreign country, so it puts our businesses at a disadvantage. If you won't pay the same as every other business, they won't let you do business there.
Perhaps that is TECHNICALLY money laundering but you sure choose an odd term to focus on repeatedly. A corporation's books shouldn't be any business of the government anyway.
Any bribes paid overseas should be between the country in question and the corporation, not the U.S. simply because some corporate paperwork was filed here. The law is stupid.
Kind of like how here, a new business must pay its own "bribes" to government: Permits, fees, licenses and the local politician's favorite pet local projects like parks, trees, etc for the privilege of setting up shop in their district.
Just because government demands it as a matter of law doesn't make it any different in principle.
Come to think of it, I think what the government REALLY doesn't like, what it finds worthy of being illegal, is COMPETITION for the bribe money.
No. Permits, fees, licenses, etc. are not bribes. They are a necessary part of the necessary process of regulating businesses in the best interest of the public. The bribes referenced do not in any way address the good of the public but only the political and business criminals involved. A good illustration is bribes offered to policemen by dope dealers, pimps, etc.
I guess you never heard of Enron. Thank goodness the government stepped up its review of corporate books to keep the rest honest. Who else protects shareholders from book-juggling better than the government?