Sixty-one percent of defendants sentenced in the Bush administration's crackdown on corporate fraud spent no more than two years in prison, escaping the stiff penalties given WorldCom Inc. and Enron Corp. executives. ...more

December 13, 2007

The World Bank and IFC have been taken to task because of the immense corruption pervading almost every avenue of so-called aid to impoverished nations, notable in Africa. Numerous examples of corporate corruption have illustrated this egregious practice which has further victimized the impoverished. The American division of the World Bank employs that all American principle of capitalism in "encouraging" free enterprise world wide. Unfortunately, the bank officials ensure income and profit for themselves first, thus, leaving the recipients of the aid worse off than they were before this "aid." In fact, the promising entrepreneurs in these proffered programs toward free enterprise have been the very victims of exploitation. The World Bank president was asked why the bank was providing loans to China, India and Brazil, classified as middle-income nations, when they hold 100s of billions of dollars of U.S. debt, why they couldn't utilize these enormous sums to fund their own development of environmental projects, etc. instead of aiding impoverished nations. He replied that this is good business, China and India will spread the wealth. ...more

October 28, 2007