-Jhansi Vasi Reddy/ 3.6.2017
At the onset of the century, US was rocked with scandals like Enron, WorldCom that involved real financial disasters like insider trading. Accounting fraud, backdating options were common place. A whole series of corporate and Wall Street scandals broke out and became cause of concern for the capitalists.
To seal off the spread of the virulent scams to the peripheral world, the soft arms of world capitalism-the World Bank, the Ford foundation, the Heritage foundation etc., commanded the developing countries to take up reforms that would curb both corporate and government corruption, in one world- crony capitalism.
At the onset of the century, US was rocked with scandals like Enron, WorldCom that involved real financial disasters like insider trading. Accounting fraud, backdating options were common place. A whole series of corporate and Wall Street scandals broke out and became cause of concern for the capitalists.
To seal off the spread of the virulent scams to the peripheral world, the soft arms of world capitalism-the World Bank, the Ford foundation, the Heritage foundation etc., commanded the developing countries to take up reforms that would curb both corporate and government corruption, in one world- crony capitalism.
