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1. Brazil
Brazil's so-called Car Wash corruption scandal, which appears on the verge of bringing down a president, centers on Petrobras, the state-run oil giant. Last March, a top Petrobras official admitted that the company was awarding contracts in exchange for bribes, some of which were diverted to political slush funds. Brazil's current president, Dilma Rousseff, was energy minister and chairwoman of Petrobras when the alleged kickbacks took place, though she has yet to be directly implicated in any wrongdoing.
Malaysia
That's not the case with Malaysia. In 2009, Malaysian Prime Minister Najib Razak established a sovereign wealth fund called 1Malaysia Development Berhad (1MDB) to help the country attract foreign investment and boost its economy. Long story short, by 2015, 1MDB owed investors $11 billion. As investigations of the state fund got underway, it was revealed that $681 million dollars had been deposited into Najib's personal account. The prime minister copped to the money transfer, but claimed it was a "gift" from the Saudi royal family, about $620 million of which he says he has returned. Two weeks ago, the 1MDB investigation uncovered that the total routed into Najib's personal account was actually about $1 billion.
originally posted by: queenofswords
Tip of the iceberg!
Who is investigating whom?
originally posted by: bandersnatch
www.yahoo.com...
1. Brazil
Brazil's so-called Car Wash corruption scandal, which appears on the verge of bringing down a president, centers on Petrobras, the state-run oil giant. Last March, a top Petrobras official admitted that the company was awarding contracts in exchange for bribes, some of which were diverted to political slush funds. Brazil's current president, Dilma Rousseff, was energy minister and chairwoman of Petrobras when the alleged kickbacks took place, though she has yet to be directly implicated in any wrongdoing.
Malaysia
That's not the case with Malaysia. In 2009, Malaysian Prime Minister Najib Razak established a sovereign wealth fund called 1Malaysia Development Berhad (1MDB) to help the country attract foreign investment and boost its economy. Long story short, by 2015, 1MDB owed investors $11 billion. As investigations of the state fund got underway, it was revealed that $681 million dollars had been deposited into Najib's personal account. The prime minister copped to the money transfer, but claimed it was a "gift" from the Saudi royal family, about $620 million of which he says he has returned. Two weeks ago, the 1MDB investigation uncovered that the total routed into Najib's personal account was actually about $1 billion.
3. South Africa
Half a world away, South Africa tells much the same story. Like Najib, South African president Jacob Zuma has been dogged by corruption allegations for years. Most recently, Zuma has been accused of improperly using taxpayer money for "security upgrades" to his personal residence. These include construction of an amphitheater, a swimming pool, and a chicken run--because you can never be too careful. As of this writing, a South African court is hearing a case to reinstate 783--the actual number--corruption charges against him, which include pocketing kickbacks associated with arms deals. But like Najib, Zuma's power comes from effective control of his political party rather than directly from the people--just 36 percent of South Africans approve of Zuma's job performance in 2016, down from 64 percent in 2011. Don't expect South Africa's anti-corruption push to amount to much because this is a country where investigators are empowered to bring damaging allegations to light, but not to enforce their judgments. Zuma will probably survive through the end of his term in 2019.
4. China
In China, it's the leader who runs the investigations. President Xi Jinping has presided over a far-reaching anti-corruption campaign, with a particular emphasis on curbing wasteful government spending. Over the last three years, punishments have been handed down to 750,000--also the actual number--party members. Corruption inspection teams have more than doubled their staff in recent years, and have gotten a boost from the Chinese people--since 2013, corruption inspectors have received more than 270,000 tips from the Chinese public. Beijing even launched a WeChat account in January to make reporting graft easier
Russia
The Kremlin has Russia's corruption problem fully under control. At least that's what the 90 percent of Russians who get their news from state-dominated media have been told. Vladimir Putin currently has an approval rating of 83 percent, so the message seems to be getting through. But non-Kremlin sources tell another story. On a scale of 1 to 7 where 7 is "most corrupt", Freedom House ranks Russia a 6.75. This is a country where corruption investigations are tools used by one political/business faction to cut into another's market share.
Paul Craig roberts has an article on his site somewhere that describes how the confessions of an economic hit man and what and how they do what they do, are being applied to not so third world countries and are in fact now being applied to western countries.
originally posted by: bandersnatch
originally posted by: queenofswords
Tip of the iceberg!
My point precisely....perhaps you've got one to add?