Tuesday, June 16, 2009

Distrust of Corporate America at an All Time High

Heide B. Malhotra, Epoch Times

Public demands transparency and coming clean

People protest against corporate bailouts in front of AIG office during the nationwide 'Take Back the Economy' protest in Los Angeles on March 19, 2009.

Now, more than ever, the general public has developed a mistrust of lobbyists from private corporations trying to influence governments worldwide and attempting to swing the perception of certain laws and regulations.

At the same time, distrust of governments is also at an all-time high, according to a new survey. Many people have become increasingly dismayed and disgruntled by what they perceive as loopholes in laws combating bribery and corruption, according to the “2009 Global Corruption Barometer” survey conducted by Transparency International (TI), a Berlin-based advocacy group.

The survey was conducted in about 70 countries and gathered the thoughts of more than 73,000 people worldwide.

“These results show a public sobered by a financial crisis precipitated by weak regulations and a lack of corporate accountability,” Huguette Labelle, TI chairwoman, said in a June press release. She continues, “But we also see that the public is willing to actively support clean business.”

“What is needed now is bold action by companies to continue strengthening their policies and practices, and to report more transparently on finances and interactions with government.”


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