Financial Transparency Coalition

On September 11, 2001, I was in London. The television images of massive destruction and certain death were no less real for being an ocean away. My wife, departing that morning but turned back to London in mid flight, could not grasp what she was hearing until she, too, saw the falling towers of the World Trade Center and the hole blown into the Pentagon and learned of the flight that went down in Pennsylvania. The next day John Keegan, my favorite historian of World War II, had a piece in the Daily Telegraphspeculating on the things America...

The U.S. Federal government is in some dark times. Unable to find a political compromise to raise the debt ceiling, the U.S. faces a potential economic catastrophe. Negotiations are stalling. Tempers are flaring on both sides of the aisle. The key point of contention? Tax increases. President Obama has reportedly endorsed reducing the debt by $2 trillion with 83% of the reduction coming from spending cuts and 17% coming from new revenues. Those proposed new revenues (or “tax increases” as some have called them) would have come from closing tax loopholes for things like corporate jet ownership. But House...

Rep. Jim Sensenbrenner (R-WI) and the U.S. Chamber of Commerce are trying to gut the world's flagship anti-corruption legislation, but "we must stand firm in our values, our principles, and our promises," writes Ann Hollingshead I’m a little annoyed. I say “a little” only out of a desire to stay civil. Today the House Judiciary committee held a hearing on the Foreign Corrupt Practices Act (FCPA), the flagship U.S. legislation that makes it illegal to bribe a foreign official. The Securities and Exchange Commission (SEC) and Department of Justice (DOJ) have jurisdiction over the FCPA, which was unique worldwide for almost...

If you read my posts, you might be aware that when it comes to bribery and corruption I am often skeptical and even more frequently condemnatory. But I also try to give credit where it’s due. Despite my criticisms and my often snarky tone, my message is one of guarded optimism. I am optimistic in the face of the shortcomings and the outright failings of our international systems because I see a positive trajectory. More trials of foreign bribery, more exposures of government corruption, and more revelations of dictator’s deposits in foreign banks are all good signs. Of...