Posted 10 years ago on Dec. 14, 2011, 10:03 a.m. EST by vets74
from New York, NY
This content is user submitted and not an official statement
Let's be clear that many individuals in "The 1%" are honest, moral people. Wealth can be amassed without committing crimes. But at the same time, modern capitalism rewards unprosecuted criminal conspiracies with what can be billion dollar pay-outs.
NY Times today covers Siemens executives running one of their multimillion dollar bribery schemes.
- $60-million in direct bribes to Argentinian officials
- $1-billion in contracts
- Get-Out-Free Card from Argentinian law enforcement
"Shell companies, Swiss bank accounts, double-crossing middlemen and cash being smuggled across borders were all part of a decade-long bribery scheme aimed at helping Siemens, the German industrial giant, secure a $1 billion contract to produce national identity cards for Argentina, the Justice Department said Tuesday.
"Eight former executives and contractors of Siemens were charged on Tuesday with criminal bribery in the case, the department said. According to the indictment, the men conspired to pay more than $100 million in bribes to “high-level Argentine officials” in violation of the Foreign Corrupt Practices Act. Among those indicted was Uriel Sharef, who from July 2000 to July 2007 was a Siemens managing board member, a position just below the rank of chief executive.
"Roughly $60 million in bribes were paid in the case, a Justice Department official said. ..."
This is one scheme out of many. These guys were running a check-out line for pay-to-play transactions. Nothing new. Nothing unusual.
We have to assume that the bribery payment technology was available to bribe anybody, anywhere. The Swiss bank accounts. The odd sounding transaction categories.
Got a prosecutor, anywhere? Got a purchasing officer?
They got it knocked for doing the pay-offs. Worse yet, there's thousands of these multinationals, all competing for global domination. They all have these tools. They don't give a hoot for honesty or for their impacts on society. They're only successful where they can grab off $1-billion at a whack.
They got it knocked.
For Occupy, there is a lesson here. It's not capitalism. Really. It's where capitalism gets perverted by criminal schemes. The Depression of 2008 was caused by $7.3-trillion of fully-accounted criminal schemes. Letting criminals run wild with billion-at-a-whack thefts - each one similar to this Siemens scam - was how it happened.
Occupy is anti-crime. Occupy is nonviolent. We are the 99% and we must go in peace.