http://www.financialtaskforce.org/2009/05/19/house-financial-services-committee-hearing-on-corruption-in-developing-countries-a-recap/ Thu, 18 Feb 2010 20:22:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.financialtaskforce.org/2009/05/19/house-financial-services-committee-hearing-on-corruption-in-developing-countries-a-recap/comment-page-1/#comment-12 Olumide Ijose Fri, 22 May 2009 23:00:46 +0000 http://www.financialtaskforce.org/?p=1096#comment-12 If the U.S. could focus on really helping Africans (and not African governments) to significantly reduce corruption and the flight of illicit capital, the result will be a win-win. Though the legacy of colonialism and aid has attuned Africans to western cultural attributes, China and India are increasuingly becoming the major trade beneficiaries as African purchasing power compels closer trade relationships with both nations. Granted, the reality of modern cross-ownership means that U.S. corporations, institutions and individual stockholders gain some benefit, but the retruns will pale, when African purchasing power begins to approximate African natural resources. The U.S. can provide the leadership that will directly unlock the African market to U.S. corporations and help to restore the dignity of the ordinary African. If the U.S. could focus on really helping Africans (and not African governments) to significantly reduce corruption and the flight of illicit capital, the result will be a win-win. Though the legacy of colonialism and aid has attuned Africans to western cultural attributes, China and India are increasuingly becoming the major trade beneficiaries as African purchasing power compels closer trade relationships with both nations. Granted, the reality of modern cross-ownership means that U.S. corporations, institutions and individual stockholders gain some benefit, but the retruns will pale, when African purchasing power begins to approximate African natural resources. The U.S. can provide the leadership that will directly unlock the African market to U.S. corporations and help to restore the dignity of the ordinary African.

]]> http://www.financialtaskforce.org/2009/05/19/house-financial-services-committee-hearing-on-corruption-in-developing-countries-a-recap/comment-page-1/#comment-11 Clark Gascoigne Wed, 20 May 2009 20:01:58 +0000 http://www.financialtaskforce.org/?p=1096#comment-11 For people interested in the integrity of our financial system, this hearing was a terrific step in the right direction. Chairman Frank opened the hearing by saying that he intended to move legislation on this issue. It's a very exciting time. For people interested in the integrity of our financial system, this hearing was a terrific step in the right direction. Chairman Frank opened the hearing by saying that he intended to move legislation on this issue. It’s a very exciting time.

]]>