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View Diary: Feds Open JP Morgan Bribery Investigation (15 comments)

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  •  This is kind of bullshit. (0+ / 0-)

    When American companies go to places like China, the local apparatchiks expect them to do things like hire their children and nieces and nephews. It's not like it is a suitcase full of cash. It is sort of a bribe, but it is not connected with any specific business (typically) and unless you want to be shut out of all business, you have no choice but to play ball. We're trying to punish an American company for doing what everyone does and what we cannot change (the business cultures of some of these countries). I just think a little leniency is in order. This wasn't cash in an envelope.

    •  It is still a bribe. Yeah, almost everyone does it (2+ / 0-)
      Recommended by:
      RiveroftheWest, ericlewis0

      but it doesn't make it not a bribe. They were not hired as janitors, kids of Chinese officials are usually hired as high level executives.

      •  But how does this make sense as public (1+ / 0-)
        Recommended by:
        RiveroftheWest

        policy? We decide we're going to punish our guys (American companies) for doing in China what  businesses from all over the world do. So it ends up being just American companies that can't hire their kids. Additionally, why just pick on JP Morgan? This does seem like selective prosecution (or selective investigation, more accurately).

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