Arkansas leads the nation, possibly the world

Readers of this site by now are likely familiar with the multitude of problems US agriculture and business interests have encountered with the Foreign Corrupt Practices Act (FCPA), passed in 1977, and hardly noticed by Congress since then.

In lieu of Congressional responsibility Federal lawyers and regulators have made their own interpretations of the law in an attempt to keep it up to date with the ever changing modern global economy. Those same bureaucrats have exercised enforcement procedures based on their interpretations. Third time: INTERPRETATIONS.

Alleged violations of this act have not escaped Arkansas. Tyson Foods chalked up a fine from the US Government of $5.2million over allegations; Wal Mart is now being investigated according to an article late last fall in the Wall Street Journal. Not exactly rogue outlaws, these two home state companies…but that’s not all. Now news comes that in Baxter County, Arkansas, the largest investigation in the country…has been a big flop.  Keep in mind it was schemed up, executed, brought to trial, and then dropped by our very own Federal Government.

It begs the question, “How much taxpayer money was spent setting up this sham, levying charges against the Arkansas company, bringing it to trial, and then saying, ‘nevermind’ ?”

Shame on you DC, for such over-reach. If the Arkansas delegation doesn’t take the lead in Congress to press for reform of this measure, then they  should consider another calling.

Story here:http://www.arkansasbusiness.com/article.aspx?aID=130326.54928.142471

FCPA will be discussed on TTO on Feb. 28 at 9:00 a.m. if you care to listen in and catch up on the latest:http://coatesmedia.coatesinfo.com/


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Arkansas Information

February 2012
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