The past few days have not been kind to government leaders:
Peru’s president is facing impeachment over graft charges.
Ethics Commissioner finds, in a 66-page report, that Canadian Prime Minister Justin Trudeau broke ethics laws by accepting a vacation on a private island owned by billionaire philanthropist Aga Khan. The ethics commissioner chastised the prime minister stating that he must be certain that his private affairs do not conflict with his public duties and that he live up to his promise to run an administration “beyond reproach.”
Royal Dutch Shell, Eni SpA (and its chief executive), and other oil industry executives will face corruption charges on a 2011 Nigerian oil deal. The allegations are that the companies paid $1.3 billion to the Nigerian government in exchange for drilling rights. The charges also allege that the Nigerian president at that time received a portion of the money paid.
Kuwait announced that it was investigating a military helicopter deal with Airbus SE. The deal was for 24 helicopters for a price of over $1 billion. Other countries investigating the military contracts of Airbus include the U.S., France, and Britain.
The Saudi government announced that the clawbacks of graft paid to government officials now under Ritz-Carlton arrest (i.e., they were arrested, rounded up, and house at the Ritz-Carlton) would be put into the Saudi treasury. The funds will be used for government programs included in a stimulus package developed by Prince Mohammed as part of his new administration.
All of this was over the course of two days. Not a bad couple of days for graft and corruption all over the world. Not a good couple of days for those subjected to a government of quids and quos. Corruption in deals means costs go up, quality goes down, and speed of projects and products slows down. Corruption benefits a few at the expense of many.