Published on Jul 4, 2012 by TheYoungTurks
“A federal law to prevent U.S. companies from paying bribes to business overseas recently came to the forefront when The New York Times reported that Walmart officials had covered up alleged bribes made by company representatives in Mexico. The retail giant faces federal investigation for violating the Foreign Corrupt Practices Act (FCPA). Wealthy individuals connected with Walmart have meanwhile taken advantage of new campaign finance rules that allow for unlimited contributions — and raise fears of unlimited influence over a future administration. Jim and Alice Walton, children of the founder of Walmart, have contributed $200,000 each to Restore Our Future, the super PAC supporting Republican presidential candidate Mitt Romney‘s campaign…The Waltons are not alone among super PAC donors with businesses facing FCPA investigation. At least three other major contributors currently have FCPA worries, and others may be looming. The U.S. Chamber of Commerce, another big-money campaign spender, continues its lobbying to loosen enforcement of the anti-corruption law…”.* The Young Turks host Cenk Uygur breaks it down.
*Read more here from Paul Blumenthal in The Huffington Post:http://www.huffingtonpost.com/2012/06/18/sheldon-adelson-bribery-super-pac-do…