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Wednesday, January 1, 2014

Corruption in the US and China - Nepotism, Elites, and Princelings

Excellent point by Robert Reich comparing how US companies in the US, and in China define corruption. I agree with him, it's unfair to use the US Foreign Corruption Act in China, when a similar hiring in the US is acceptable? It's amazing how many of the US elite get entrance to Wall Street due to family. It's wrong in both countries, I believe in a true meritocracy for hiring the best person available. Unfortunately, it's often who you know that is more important than what you know.

JP Morgan Chase, the Foreign Corrupt Practice Act, and the Corruption of America



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