Maureen Scotland _ US Cashes in on Corruption Overseas

Maureen Scotland _ US Cashes in on Corruption Overseas -...

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US Cashes in on Corruption Overseas By: Maureen Stotland
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Why would the US be interested in a business deals Germany and Russia made? Daimler AG division Mercedes-Benz’s production line in Stuttgart, Germany $185 million in civil and criminal penalties that Daimler AG and its subsidiaries have agreed to pay.
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What is the Foreign Corrupt Practices Act of 1977? Originally this law was designed to protect United States (US) Corporations from international crime. Has now become a lucrative pawn in international monopoly. When the act was first created few companies had concerns over the use of the act.
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Department of Justice (DOJ) and the Securities Exchange Commission (SEC) have discovered this act to be very lucrative in stimulation revenue for the US Government. Settlements in 2007 $87million Settlements in 2009 $627million 2010 $1.2billion in April with additional
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Unformatted text preview: $185Million from Daimler AG and Cultural Relativism • Different cultures have different moral values • “Good” is determined by the country – We have no right to say our way is best – We should be tolerant of other countries ways Utilitarianism • This theory is based on overall happiness. – Do we gain more happiness from the funds we earn and the country we help? – Does the company who accepts the bribe gain more happiness from these transactions? – Not all the business transactions are negative to the country that is impacted by the agreement, don’t they earn happiness from the deal? References • US Cahses in on Corporate Corruption Overseas http :// www.time.com/time/business/article/0,8599,19 • http://philosophy.tamucc.edu/content/slide-note • http://philosophy.tamucc.edu/content/slide-note...
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This note was uploaded on 03/27/2012 for the course FINA 1307 taught by Professor Friday during the Spring '11 term at Texas A&M University, Corpus Christi.

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Maureen Scotland _ US Cashes in on Corruption Overseas -...

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