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Monday, April 23, 2012

The new Wal-Mart, Mexico banking brouhaha

In case you didn't see it, there was a big, rather significaant, if not important article in yesterday's New York Times about Wal-Mart's Mexico banking company: Vast Mexico Bribery Case Hushed Up by Wal-Mart After Top-Level Struggle Confronted with evidence of widespread corruption in Mexico, top Wal-Mart executives focused more on damage control than on rooting out wrongdoing, an examination by The New York Times found.

There are far too many details for me to go on about it here. Suffice it to say, it should be huge, if it isn't totally ignored. I'd like to know three things: First, are there any charges that need to be filed here in the US against whomever is involved?

Next, are there any charges that need to be filed in Mexico? Personally, I hope this will be pursued by the press and justice systems of both countries and that if they find any wrongdoing, they are prosecuted to the full extent of the laws in both countries.

Finnally, I'd like to see if any international laws were broken, too, as well as any other nation's laws, in addition to Mexico's, and if they're prosecutable. This is, after all, the company that wants to be cleared as a banking company in this country, too, as they've made clear. I think for most Americans, it will be extremely illuminating that Wal-Mart is a banking company, also, in Mexico, besides a retailer. I hope it's fascinating just where these revelations go, in positive ways. Meaning, if laws were broken, I hope everyone liable is held accountable, not the least being corporate Wal-Mart, anywhere and everywhere they may have broken any laws. Keep in mind, that Wal-mart all but owns Arvest Bank here in the States, too. (See last link, below).

Links: http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-inquiry-silenced.html?_r=1&nl=todaysheadlines&emc=edit_th_20120422; http://www.thedailybeast.com/articles/2012/04/22/8-revelations-from-walmart-s-mexican-bribery-scandal.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thedailybeast%2Farticles+%28The+Daily+Beast+-+Latest+Articles%29; http://en.wikipedia.org/wiki/Arvest_Bank

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