Bloomberg, May 10, 2012
By Steve Coll
The Dodd-Frank Wall Street Reform and Consumer Protection Act, the most sweeping financial law enacted since the Great Depression, is supposed to protect investors and shield the economy from bubbles and speculation. Its promise is hard to judge; many detailed rules are still being drafted. What can be said with confidence is that Dodd-Frank has been a boon for lobbyists.
This spring a scrum of them is grappling over a relatively obscure provision known as Section 1504. Bill Gates, George Soros, Secretary of State Hillary Clinton, and Senator Richard Lugar (R-Ind.) have endorsed the proviso. Big Oil and mining corporations are determined to undo it. At issue is a problem not typically associated with Wall Street reform: how to help citizens in poor countries stop their leaders from stealing money earned from oil and mineral sales.
[youtube]http://www.youtube.com/watch?v=iNf2tv_aXNQ[/youtube]
Explaining the 2012 Corruption Perceptions Index from Transparency International
In this video, the United Nations Office on Drugs and Crime follows individual Euro bills as they are used illicitly, ultimately showing the annual $870 billion proceeds from criminal networks. The filmed transactions highlight profits by counterfeiting, illicit drug trafficking, human trafficking, and trading illegal arms. The UNODC also captures the impact of this underground economy on human peace and security.
Attiyah Waris, Tax Law Professor at Nairobi University, argues that tax evasion strategies used by ...
WASHINGTON, DC / LONDON – A bipartisan Congressional report published Thursday by the U.S. Senate ...
May 20, 2013
WASHINGTON, DC – Global Financial Integrity (GFI) lauded former UN Secretary-General Kofi Annan and the ...
May 10, 2013
WASHINGTON, DC / LONDON – In a major victory for transparency advocates, British Prime Minister ...
April 25, 2013
Do you care about stamping out corruption, money laundering and tax dodging? The Financial Transparency ...
May 21, 2013
The solutions to problems are often implicit in the way they are framed. If I ...
May 15, 2013
Below the jump: a fantastic infographic on how money is hidden by large U.S. corporations ...
May 13, 2013
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