Financial Transparency Coalition

Yesterday I switched on the radio in my car and heard a familiar phrase. Just as I started listening, NPR had just started reading a story on the Foreign Corrupt Practices Act, or FCPA, and the recent efforts by the U.S. Chamber of Commerce to amend the law. Feeling excited, I turned up my dial. The Chamber’s basic argument is that the FCPA, the flagship U.S.legislation that makes it illegal to bribe a foreign official, is too cumbersome on U.S. businesses. For months now, the Chamber has been lobbying to weaken the FCPA and has even retained former U.S. Attorney...

Raymond W. Baker, the director of Task Force member Global Financial Integrity, has written a letter to Rep. Jim Sensenbrenner (R - WI) warning him against introducing legislation to weaken the Foreign Corrupt Practices Act (FCPA). The letter, which has received coverage from The Wall Street Journal and Just Anti-Corruption suggests there will be political ramifications to for the Congressman should he follow through with his promise to introduce legislation to ammend the nation's flagship anti-corruption law. Just Anti-Corruption (subscription required) reports:

The News Corp. phone-hacking and bribery scandal has developed quickly, every day bringing more stories of investigations, arrests, or pie-wielding British comics.  It's easy to get overwhelmed by the tide of details and lose track of the big issues.  In the United States, the investigation has taken an interesting turn, casting a foul light on lobbying efforts to undermine American anti-bribery legislation. On July 15, the Department of Justice confirmed an investigation into the News Corp. scandal.  In addition to investigating up to 4,000 alleged incidents of phone hacking, it appears that News Corp. bribed British police officers....