In an O’Reilly Factor segment entitled “Corporate Corruption,” National Center Free Enterprise Project Director Dr. Tom Borelli and Heritage Foundation Fellow Dr. Nile Gardiner discuss the $24 million fine GE received from the SEC for violating the Foreign Corrupt Practices Act in relation to kickbacks paid to Saddam Hussein during the oil-for-food scandal.
On the video, Nile Gardiner calls oil-for-food “the biggest financial scandal of modern times,” adding that “the fact that GE, a huge American company, a household name, was involved in the scandal, is hugely shameful.”
“U.S. lives,” he added, “could have been lost due to these kinds of deals.”
Tom says there is a “pattern of corruption” at General Electric, noting that “just in the last year they settled with the Securities and Exchange Commission over charges that they were cooking the books to boost their earnings to meet Wall Street expectations.”
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