Trump wants USA to scrap the Foreign Corrupt Practices Act.(FCPA)

Discussion in 'Political Opinions & Beliefs' started by 61falcon, Jan 18, 2020.

  1. 61falcon

    61falcon Well-Known Member

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    Trump has made it clear that he wants congress to scrap the Corrupt Foreign Practices Act.(FCPA) which forbids American business leaders from bribing foreign business leaders or politicians in order to obtain foreign business.Obviously if he thinks our businesses should be allowed to do this, he also must feel it is AOK for foreigners to offer bribes to American businesses and politicians.We have the mafia in the White House.
     
  2. jcarlilesiu

    jcarlilesiu Well-Known Member Past Donor

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  3. 61falcon

    61falcon Well-Known Member

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    White House economics advisor Larry Kudlow speaking on CNBC to reporters yesterday 1-17-2020 announced it.
     
  4. 61falcon

    61falcon Well-Known Member

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    No COMMENTS???
     
  5. Quantum Nerd

    Quantum Nerd Well-Known Member

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  6. garyd

    garyd Well-Known Member

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    It does put us a a competitive disadvantage vs. China, Russia, North Korea, Iran and other countries who have no such scruples.
     
  7. 61falcon

    61falcon Well-Known Member

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    He has evidently been advocating for this since at least 2012??He had a disagreement with his at the time Secretary of State Rex Tillerson before he canned him.
     
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  8. 61falcon

    61falcon Well-Known Member

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    Most major countries in the world have similar legislation forbidding bribery.
     
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  9. doombug

    doombug Well-Known Member

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    No link?
     
  10. 61falcon

    61falcon Well-Known Member

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    It's THERE!!!
     
  11. FreshAir

    FreshAir Well-Known Member Past Donor

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    if Trump broke this law in the past, and the law was change, would that let him off the hook for it?
     
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  12. 61falcon

    61falcon Well-Known Member

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    The law has been on the books for many years.
     
  13. Right is the way

    Right is the way Well-Known Member

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    If you do business in China you are bribing to get things done. That is simply how things work. My brother in law does alot of buin China lived there for 4 years. Also some work in the eastern block countries, most countries work like that. I am sure Mexico is not different. It is nice to see someone so naive that thinks stuff like this doesn't happen.
     
    Last edited: Jan 18, 2020
  14. 61falcon

    61falcon Well-Known Member

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    So are you saying Chinese and Mexican companies that are doing business in the USA bribed either company or political figures to get their foot in the door like for example Foxconn in Wisconsin????
     
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  15. 61falcon

    61falcon Well-Known Member

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    You are saying you are in favor of the mafia way of doing things???
     
  16. Right is the way

    Right is the way Well-Known Member

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    Wake up business bribe to get things done. How do you think our legislators come in the power of average wealth and retire multi millionaires. Why do you think a drug addict loser Biden got on a board. Those are all grease the wheels bribing.
     
  17. Right is the way

    Right is the way Well-Known Member

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    Yes I am.
     
  18. 61falcon

    61falcon Well-Known Member

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    So you are happy living in a Mafia run homeland???Because I am not!!!
     
  19. Right is the way

    Right is the way Well-Known Member

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    No I am not. Not liking something but knowing it is there is two different things. This is not a Republican v Democrat things. Bribery and kick backs are simply what happens. Power corrupts absolutely.
     
  20. Right is the way

    Right is the way Well-Known Member

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    If you go to China to any kind of building of anything for anything (the Chinese government or a factory for your business) someone will be getting of table money or it will not happen.
     
  21. MolonLabe2009

    MolonLabe2009 Banned

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    Scraping it for good reason...
     
  22. Quantum Nerd

    Quantum Nerd Well-Known Member

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    Here we go, as predicted, Trump fans defending this because: Anything goes if you can make a quick buck.

    Nevermind that corruption destroys markets and wealth. What could possibly go wrong, importing corruption from other countries to the US by legalizing it?

    People, stop thinking about the short term and the quick buck in your pocket, think about the long term implications of these policies. Same goes for tax cuts on the backs of future generations.
     
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  23. ImNotOliver

    ImNotOliver Well-Known Member

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    There is a lot of, “I’ll scratch your back if you scratch my back”, type of deals that go down, but most respectable businessmen avoid out and out criminality, unlike Trump.
     
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  24. spiritgide

    spiritgide Well-Known Member Past Donor

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    You are talking like you are unaware of all the pieces of the puzzle but one. The FCPA has some good points- and some very bad ones. What is good depends on who you are. Businesses don't benefit, but our government rakes in billions of dollars by fining them, so the bill is a cash-cow for government. Some countries simply operate on a system of payoffs. Officials are compensated with a small salary- and all they can steal. We've had the same thing here, you just don't recognize it because it's cosmetically hidden.

    I've done business in many countries. Nothing large- but even so, I've been asked for bribes dozens of times. One person who was a government official who had the authority to allow or deny my business to operate in his country, whom I had only dealt with by phone, blatantly asked me what I was going to do for him. When I explained we would be hiring people, buying supplies, renting or building facilities- he said "That's fine. Now what are you going to do for ME?" He expected an ongoing payoff in return for granting a permit to operate there. He considered that an entitlement of his position, not a bribe. I don't do business that way, and I cancelled the entire project. However in many nations, the only people who get authority to operate are the ones willing to payoff. It's not a bribe to them- it's just as aspect of business, a fringe benefit to the people holding power.

    The act itself is ambiguous, and dangerous.
    The FCPA exempts, “any facilitating or expediting payment to a foreign official, political party, or party official the purpose of which is to expedite or to secure the performance of a routine governmental action by a foreign official, political party, or party official.”
    Does that sound similar to putting lipstick on a pig and calling it a lady? It should. It's just a polite way of renaming a bribe.

    Traditionally this “facilitating payments” clause covered ministerial acts such as mail delivery and permit processing. Trouble is, our government can arbitrarily decide if your "payment" qualifies as facilitation or bribe. No clear definition you can depend on. That is a kind of trap, a description vague enough it can arbitrarily be used as a weapon by people in our own government. Probably be resolved by paying a fee to expedite the right choice......

    In other words it allows paying off officials in another country if you are able to label it as "buying" something- which is usually if you pay them to expedite the processing your application or shipment, or whatever, it get done right away. If you don't, it may take 10 years. Now that is a bribe, but it is often how their system works- common practice, and we aren't causing corruption there, we are being victimized by it. Then, our own government fines the company for being victimized and victimizes them again. The fines do not go to any "injured" party- they go to the US Treasury.

    Basically it gives other nations an advantage over us. It doesn't allow US companies to decide what is in their own best interests. It ASSUMES that other countries officials are honorable, and that we are corrupting them by offering bribes- and that is the opposite of the facts. We are dealing with corrupt people; they are not soliciting the bribes, they are requiring them. To a US company, that is often just a question of it being a cost of doing business is that country. It's sometimes small scale as well. I've been denied entry to a country by a customs agent who demanded I "tip" him $20 for his good service- or I take a plane back home. Did that openly in front of others, made no effort to hide it. I suspect he does it all day long- and $20 there was like two days wages. His "tips" probably made up 90% of his income.

    Nothing wrong with promoting honest business. There is something wrong with making things worse instead of better. We cannot control the corruption of other governments in this way- all we can do is hamper our own businesses and milk them for fines. That's what this law does. The original motive was probably good. The method of enforcing it is not. That seems to be very common.
     
    Last edited: Jan 19, 2020
  25. Moonglow

    Moonglow Well-Known Member

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    In China when they catch govt. officials in bribery scandals their sentence is death when found guilty
     
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