Financial Transparency Coalition

Two weeks ago, the twenty most powerful leaders of the world headed to Cannes, France for the G20 Summit. It was the G20’s sixth meeting in a series of ongoing discussions about the world’s financial markets. While the meeting did not reach any concrete policy decisions on a host of important issues plaguing our financial world, some of the accomplishments of the meeting included a few pointed and poignant statements from some of the world’s most powerful. One of these statements came from Indian Prime Minister Manomohan Singh, who urged the world’s twenty most powerful countries to agree to...

About two weeks ago, I wrote about the “upward trajectory” of India’s stance on black money and transparency in international finance. I predicted that the country (eventually) would become a leader in this arena. In case you’ve missed India’s catapult into this discussion, here’s the background. In April of 2009, after becoming very upset by the evidence there are rivers of ‘black money’ flowing out of India, the president of the Bharatiya Janata Party (BJP), Rajnath Singh, told voters that if they elected his party into office he would, within 100 days, “bring back all the black money stashed in foreign...

In April of 2009, after becoming very upset by the evidence there are rivers of ‘black money’ flowing out of India, the president of the Bharatiya Janata Party (BJP), Rajnath Singh, told voters that if they elected his party into office he would, within 100 days, “bring back all the black money stashed in foreign banks and distribute among ‘the common poor people.’” As we know, the BJP did not come to power in India in 2009 so fortunately for Rajnath Singh, his party never needed to prove this monumental task was possible. It’s not, by the way. At the...

NEW DELHI — Endemic corruption is harming India's reputation overseas, Prime Minister Manmohan Singh said Wednesday, warning that foreign investors were being scared away by the "menace".