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April 15, 2003
Corporate Money US fines sanction

Corporate Money

US fines sanction busting companies

Some of America's best known corporations have been fined by the US Treasury for busting sanction laws to trade with countries such as Iraq, Libya and Cuba.

Among the 59 companies fined a total of about $1.1m were Amazon, Bank of New York, Caterpillar, ChevronTexaco, Citibank, ExxonMobil, New York Yankees and WalMart.

Do we celebrate because these companies were fined, or do we weep because $1.1M is a drop in the bucket to any one of these companies? This amount, spread out over 59 of them, isn't even punishment. It's just an ugly joke.

And, speaking of corporate money, Philip Morris gets to keep an additional $6B of theirs.

Government Money

The multi-trillion dollar budget seems to have passed. Hands up, everyone who thinks the Republican's "promise" to keep tax cuts to no more than $350B will be kept. Especially since we already know that the language of the bill itself allows for up to $550B. On the other hand, there do seem to be indications that the behind-the-scenes battle was significant, so maybe this still-disgraceful $350B "cap" will be honored.)

Posted by AnneZook at 08:28 AM