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Today’s sadly-ironic headline

April 9, 2014 by Jeff (ILoveCapitalism)

HP pays $108 million to settle foreign bribery probes:

WARSAW/WASHINGTON (Reuters) – Hewlett-Packard agreed to pay $108 million to resolve wide-ranging U.S. government investigations into whether some of its foreign units bribed government officials to obtain lucrative contracts, U.S. officials said on Wednesday.

HP’s Russia subsidiary pleaded guilty…Polish and Mexican units of the computing giant also resolved U.S. criminal charges related to contracts they had won in those countries…

Get it?

  1. Foreign companies (owned by HP) paid fees that foreign officials demanded of them. Everyone called these fees “bribes” in order to displace the guilt, that is, to hide the extortion aspect.
  2. U.S. officials were jealous so they, in turn, demanded and got $108 million from HP. Everyone called these fees “settling criminal charges under the Foreign Corrupt Practices Act”, again in order to displace the guilt, that is, to hide the bottom-line extortion aspect.

Filed Under: Big Government Follies, Crony Capitalism Consequences Tagged With: Big Government Follies, bribery, Crony Capitalism Consequences, extortion, hewlett-packard

Comments

  1. Richard Bell says

    April 9, 2014 at 5:30 pm - April 9, 2014

    We truly are being led by a government as corrupt, criminal and dangerous as any other third world government.

  2. Annie says

    April 9, 2014 at 6:10 pm - April 9, 2014

    Yes Richard, yes we are.

    Another example and related in the thuggish shakedown/criminality of it – You know how Elijah Cummings is screaming the loudest to end the IRS investigation because MCCARTHY!WITCH HUNT!!ELEVENTY!

    Seems his behind was behind some of the targeting and illegal ‘coordination and improper sharing of confidential taxpayer information.’

    http://tinyurl.com/ld8d2x3

    There is no way Holder is going to do anything to any of these foot soldiers, who were under the direction of the White House.

    It is so disgusting to see the GOP pick their noses over this. Pelosi and Reid would have never allowed this stuff to happen to their preciouses.

  3. ILoveCapitalism says

    April 9, 2014 at 8:33 pm - April 9, 2014

    Fixed a typo or two…now it reads “…settling criminal charges” as intended.

  4. Craig Smith says

    April 10, 2014 at 12:25 am - April 10, 2014

    So….in order to do business in those foreign countries…

    HP had to pay extortion fees…

    Which this same foreign country then turned around and called bribes…

    In order to extract MORE money from HP…

    And then the U.S. Government, which has no jurisdiction in the foreign country…

    Claims it has jurisdiction over company behavior in those foreign countries…

    And ignoring double jeopardy, since they were already convicted in that foreign country…

    Charge them AGAIN, in order to extract MORE money from HP?

    Is that what I’m reading?

  5. mike says

    April 10, 2014 at 7:15 am - April 10, 2014

    I work with this law often. It’s a doozy. It does allow you to make “expediting payments” to get permits and such and my understanding of this case it was a plain and simple bribe.

    Its interesting that the USA (and many other countries) punish a company who bribes a foreign official. Yet when a company/CEO/owner funds a politician to run for office, and then the politician writes a law, or strikes a regulation that specifically benefits that company/CEO/owner that is fine and dandy.

  6. Professor Hale says

    April 10, 2014 at 10:33 am - April 10, 2014

    And often, the public agents in that office who collect the “fines” get a cut of it as a “bonus” for their hard work.

  7. Ted B. (Charging Rhino) says

    April 10, 2014 at 1:49 pm - April 10, 2014

    Err, what is the difference between a corporate bribe agreed-to and paid, and a corporate civil-fine agreed-to and paid??

    Answer; the same as an extortion-attempt made by a public official, and a campaign “timely” contribution to same-politician since he sits on a committee with life and death-power over your business or industry-sector.

    – I’ve attended discussions with NJ elected officials in State-Leadership positions who outright stated that without campaign contributions or “charitable contributions to their pet causes” you just don’t get “access”…but it’s not pay-to-play or quid quo pro. (…Because THAT would be illegal, even here in NJ.)

  8. North Dallas Thirty says

    April 10, 2014 at 2:01 pm - April 10, 2014

    Yet when a company/CEO/owner funds a politician to run for office, and then the politician writes a law, or strikes a regulation that specifically benefits that company/CEO/owner that is fine and dandy.

    Comment by mike — April 10, 2014 @ 7:15 am – April 10, 2014

    Well of course, mike; after all, it’s what your Barack Obama does, and you wholly and completely support Barack Obama and say that everything Barack Obama does is moral and upright and correct.

  9. ILoveCapitalism says

    April 10, 2014 at 3:05 pm - April 10, 2014

    CS #4 – Almost. It is a “double whammy” or “double jeopardy” scam. But the one convicted in the foreign country, was the foreign-incorporated subsidiary.

    So:

    1) A U.S. company expands into a foreign country. It incorporates a foreign subsidiary. That’s good for the foreign country because it creates foreign jobs, AND good for the U.S. because eventually, foreign profits come back in the U.S. parent, creating U.S. government tax revenue and U.S. jobs.
    2) The foreign country’s bureaucrats are corrupt, so “bribes” must be paid or business can’t happen.
    3) The foreign affiliate or subsidiary pays them. Note, if this breaks foreign law then it is a matter for the foreign jurisdiction.
    4) For extra revenue, the foreign country then prosecutes the foreign-incorporated company for paying “bribes”, and gets a settlement.
    5) Finally, under a U.S. law created for the purpose, the U.S. government demands its own settlement from the U.S. parent company. Because of what the foreign-incorporated company did, and was already punished for, in the foreign country. And on top of U.S. taxes that the parent paid on foreign profits.

    mike – Yes. Thanks for the added color.

    what is the difference between a corporate bribe agreed-to and paid, and a corporate civil-fine agreed-to and paid?

    The latter is legal. It is supposed to be a punishment for breaking the law, but it can functionally become a (legalized) shake-down operation. I’m suggesting that here, it has.

    NJ elected officials in State-Leadership positions who outright stated that without campaign contributions or “charitable contributions to their pet causes” you just don’t get “access”

    Exactly. Political contributions are the American way of bribery.

  10. Ted B. (Charging Rhino) says

    April 10, 2014 at 3:20 pm - April 10, 2014

    Political extractions contributions are the American way of bribery.

    Funny how that works…

  11. Charles says

    April 12, 2014 at 8:48 am - April 12, 2014

    I am sad to say that both Republicans and Democrats are responsible for this legislation. I don’t know of the history of the enforcement of this horrible law. However, my guess is that Democrats administrations have been enforcing it more than Republican administrations.

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