Corporate governance as universal sham

[Carl Remick]

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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