Corporate governance as universal sham

Carl Remick carlremick at hotmail.com
Fri Aug 16 08:52:43 PDT 2002


As I've noted before, it's quite amusing to see business executives around the world leveling the bony finger of indignation at the corrupt conduct of their U.S. counterparts. Biz executives are pretty much the same greedy psychopaths everywhere.

Re this, there's an interesting article in the Wall Street Journal today, "Outside the US, Executives Face Little Legal Peril." I don't have online access to the WSJ, so I'll key in just this paragraph:

"At a time when US executives are being led away in handcuffs or hauled before congressional committees, business scofflaws in the rest of the world aren't hurting much at all. In most of Asia, Europe and Latin America, regulations and enforcement are so weak that the chances of conviction are slim. Legal systems are poorly equipped to handle misconduct in the executive suite. And securities watchdogs operate under budget constraints that make the US Securities and Exchange Commission look flush with cash."

Carl

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