Slate Money
Is Bribery Back?
Feb 15, 2025
The discussion kicks off with Trump's suspension of the Foreign Corrupt Practices Act, raising eyebrows about its global impact on corruption. Then, they dive into Elon Musk's controversial move to take FEMA funds from NYC, questioning its legality and implications. Inflation takes center stage, especially the skyrocketing prices of eggs, leading to humorous anecdotes and the complexities of consumer economics. The team wraps up by exploring trends in financial safety, reflecting on the evolving landscape of banking and government spending.
46:49
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Quick takeaways
- The suspension of the Foreign Corrupt Practices Act by Trump raises concerns about potential long-term impacts on U.S. companies and global corruption efforts.
- Elon Musk's withdrawal of $80 million from New York City's account highlights serious concerns over financial integrity and could diminish public trust in banking systems.
Deep dives
Impacts of Trump's Suspension of the Foreign Corrupt Practices Act
Donald Trump has recently suspended the enforcement of the Foreign Corrupt Practices Act (FCPA), arguing that it places American companies at a competitive disadvantage. This law is significant in the global fight against corruption, as it criminalizes bribery of foreign officials. Critics suggest this suspension may not benefit U.S. firms, as foreign companies are also subject to the FCPA, and major fines have been issued to both foreign and domestic companies alike. Moreover, the suspension could lead to long-term repercussions if future administrations decide to retroactively enforce anti-corruption laws.
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