The whole world is facing the deepening and widening corruption which challenges the very survival of the free democracy and the free market economy.
Korea has been suffering for last 70 years from the corruption culture. But owing to courageous fight of Korean people and the Candle-Light Revolution of 2016-2017, Korea is freeing painfully but steadily from the dark clouds of the corruption culture.
I hope that Korea’s experience will help developing countries for assuring the development of their economy without becoming the slave of corruption.
A 2013 parliamentary report found that the EU was massively underestimating its fraud against the taxpayer in a damning revelation
for Brussels. The House of Lords European Union
Select Committee found that around £4billion a year had gone missing from the budget, 12 times the £348million a year calculated by the European Commission at the time. It emerged that there were a number of
ways money had been sapped out of the bloc’s budget, wth fraud ranging
from cigarette smuggling to bribery and corruption.
Comment by tonytran2015: The bureaucrats and the builders agreed among themselves that the cladding materials are safe, ordinary people were kept out of the discussions. They used the materials and made huge profits for themselves.
Now it is found that they made the wrong decisions and ordinary people have to pay States taxes to rectify their works which gave them huge profits. Is this fair?
The South Australian Government has been ordered to reveal documents
about the fire risk posed by cladding on the Adelaide Convention Centre, with the state’s independent umpire rejecting arguments that the release of the information could put the public building at risk of attack.
Think of a new member of Congress, who is less interested in learning and conforming to the traditions and expectations of the House than using it as a platform for gaining fame and celebrity. Congress—by its own will, Levin argues—has become increasingly weak and ineffectual.
Comment by tonytran2015: A very potent mixture of power, money, corruption and Arkancides. The end is imminent for the USA.
The Vice-President will surely assume the Presidency if the President dies/resigns during his term. History is full of unpredictable (?) events.
Comment by tonytran2015: (The-parasites-of-western-economy-part-10: Greedy-politicians-overpaid-with-our-tax-money posted on 21 August 2018 , The-parasites-of-western-economy-part-11: Vulture-funds posted on 18 October 2018).
take the example of your local Mom and Pop coffee shop. Let’s say the place was bought a few years ago for $50k. In the interim the place was losing business steadily. New investors came in and bought it for $20k. They then turned around and
decided to unload it for the same $20k.
Would the government then make up the difference for what it was worth a few years ago and give the sellers the difference of $ 30k? NO WAY IN HELL! Yet, for Mnuchin and his
partners committing what I call ‘Legal Crime’ that is what Uncle Sam did for them… and did it happily to ‘Save the Economy’. Glantz explains how when Mnuchin and Co. took over Indy Mac bank in a fire sale, changed
its name to One West, they were holding thousands of toxic mortgages.
These were homes that were foreclosed or ready to be foreclosed. One example would be if a home had been assessed at $ 300k and was now worth
One West would sell the home for the $100k and the FDIC would repay them the difference of $ 200k. I kid you
not!! Sheila Bair, the head of the FDIC at the time, actually stated
that this was done to save our economy.