Corporate governance as universal sham

Chris Beggy news at kippona.com
Mon Aug 19 12:33:26 PDT 2002


"Carl Remick" <carlremick at hotmail.com> writes:


> "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."

Isn't it a much higher stakes game in Latin America and parts of Asia? Business bigshots in those countries have problems like kidnapping, expropriation, blackmail, public rioting, etc. that only Kroll and Associates can solve.

I don't think the Indonesian equivalent of Bernie Ebbers could have gotten to Sunday school to issue his mea culpa without an armored Chevy Suburban and an armed escort.

http://www.worldwidearmor.com/armor_components.html

Chris



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