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  • jforuus jforuus Jan 20, 2014 8:01 PM Flag

    Why doesn't the SEC quadruple their work force?

    That way we can start to corral all of Congress and Wall St.

    "Washington D.C., Jan. 9, 2014 — The Securities and Exchange Commission today charged global aluminum producer Alcoa Inc. with violating the Foreign Corrupt Practices Act (FCPA) when its subsidiaries repeatedly paid bribes to government officials in Bahrain to maintain a key source of business.
    An SEC investigation found that more than $110 million in corrupt payments were made to Bahraini officials with influence over contract negotiations between Alcoa and a major government-operated aluminum plant. Alcoa’s subsidiaries used a London-based consultant with connections to Bahrain’s royal family as an intermediary to negotiate with government officials and funnel the illicit payments to retain Alcoa’s business as a supplier to the plant. Alcoa lacked sufficient internal controls to prevent and detect the bribes, which were improperly recorded in Alcoa’s books and records as legitimate commissions or sales to a distributor.

    Alcoa agreed to settle the SEC’s charges and a parallel criminal case announced today by the U.S. Department of Justice by paying a total of $384 million."

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    • Let us use this money to have a cleansing and purge of Wall St., Congress and Corp America who have no problem in telling you to smoke for decades after covering up studies that say other wise.

      How did this nation not riot and burn down EVERY muliti-Bilion Dollar corporation?

      I guess the American Citizen wants to send Congress, Corp America and the SEC there is no punishment for molesting our Children's Future! Sad.

      Please share such topics of conversation with others.

      • 1 Reply to jforuus
      • "How did this nation not riot and burn down EVERY muliti-Bilion Dollar corporation" responsible for this.

        Easier to destroy a President like NIXON by the media than it is to go after an ADVERTISER.

        The Citizenship failed themselves by not DESTROYING each and every multi billion cigarette producing corporation or at least dealing a DEATH TYPE blow exactly the same as they delivered to so many for DECADES by hiding such things.

        How easily we forget and are misled?

        Time to start teaching your GRANDCHILDREN THE EVILS OF SUCH TWO PARTIES now to eventually cleanse our political system of the strangle hold it has around this nation.

        Driving up the market doesn''t make the middle class wealthy all those that already sold out at lows to survive. What a scam and they hope your pride will mask the reality of the middle class situation.

        Don't let pride stop you from admitting such things to each other, how else will we find the solution.

        Please share such topics of conversation with others at the dinner table.

 
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