Word: corrupting
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Dates: during 1990-1999
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Unfortunately that admission misses the point, for it is the top-down nature of the Asian model itself that is the real cause of the crisis. This model bred complacency, cronyism and corruption. Isolated from public opinion, just as they insulated bankers and businessmen from market forces, the technocrats ignored the deafening clamor of alarm bells that market forces have been ringing for years. Worse still, because there was no public scrutiny of the iron triangle of bureaucrats, businessmen and bankers, the natural coziness that developed in that clique led inevitably to decisions based on personal relations. At best this...
...last-minute funds pressing. Those funds, say authorities, were illegally channeled to Carey. "He was a leader with all the power in the world to clean up the union," says Ted Katsaros, a reformer who suffered beatings at the hands of mobsters in one of New York's most corrupt Teamsters locals. "Instead, we never saw him again." Adds Gene Giacumbo, who was elected a vice president on Carey's reform slate in 1991 but who later lost faith: "His election was supposed to bring democracy to the Teamsters, but no one who was elected with him was allowed...
Teamsters dissidents, who have no love for either man, say Carey was his own undoing. While he did oust some corrupt officials and sold off union jets and limousines after his 1991 election, insiders say he also readily cut deals with Old-Guard Teamsters leaders. In one such move, Carey withheld his support from a Washington local that was battling corrupt officials--whereupon the 3,500-member group quit the union. "Carey turned on his friends and made deals with the devil," says Arthur Fox, former attorney for a group of dissident Teamsters drivers. "Then when he needed support from...
...what moral ground can the United States spearhead the movement to end bribery in international business? American officials wanted this treaty to be modeled on the 1977 Foreign Corrupt Practices Act. However, even though many companies were charged with violating the act, no executive was ever convicted. If the U.S. cannot enforce its own law (which contains built-in punishments) it is less clear how effective this new international measure will be without any force behind...
...writer for the local underground paper, he interviewed a young law professor named Bill Clinton who was planning to run for Congress. The idealistic Whitehead thought that Clinton could be another "people's candidate," like George McGovern, but he fretted to his interview subject that politicians often become "corrupt and phony." Don't worry, Clinton told Whitehead, "I won't let that happen...