Money & Politics

A U.S. Justice Department indictment unsealed Friday accused R. Allen Stanford of Stanford International Bank, based in the Caribbean money haven of Antigua, of operating a multibillion-dollar Ponzi scheme with the help of Antigua's top banking regulator, Leroy King. Read More

After meeting with managers of the Chinese operations of Google on Thursday to warn them, the Chinese government disabled some search functions on the Chinese-language Web site of Google on Friday. Officials alleged the site was linking too often to pornographic and vulgar content. Read More

In early May, the Obama administration announced plans to eliminate the advantages that multinationals have over domestic corporations as to the tax treatment of reinvested profits. K Street corporate lobbyists haven't squealed so loudly since they lost their three martini lunches. The uproar draws attention away from the fact that U.S. multinationals enjoy an effective tax rate of just 2.4 percent on billions of dollars in foreign active earnings. Read More

In an effort to keep business ties with Turkey, five military contractors and one energy company (Chevron) lobby against a U.S. bill that would label Turkey's slaugther of a million Aremnians during WWI genocide. Read More

The fight against corruption in Africa is faltering as public agencies investigating wrongdoing by powerful politicians have been undermined and officials leading the charge have been dismissed, subjected to death threats and driven into exile. The search is on for more effective ways to tackle corruption, including intensified legal efforts to prosecute multinational corporations that pay the bribes and reclaim loot that African political elites have stashed abroad. Read More

CorpWatch, with support from the Sunlight Foundation, announces release of the CrocTail application and open CorpWatch API. CrocTail provides an interface for browsing information about U.S. publicly traded corporations and their many foreign and domestic subsidiaries. CrocTail also serves as a demonstration of the features and data available through the CorpWatch API. Read More

Royal Dutch Shell agreed to pay $15.5 million to settle a case accusing it of taking part in human rights abuses in the Niger Delta, a striking sum given it has denied any wrongdoing. Ken Saro-Wiwa, Shell's most prominent critic at the time in Nigeria, was hanged in 1995 by that country's military regime after protesting Shell's environmental practices in the oil-rich delta, especially in his native Ogoni region. Read More

In a combative and sometimes colorful annual meeting, Chevron's CEO and chairman exchanged barbs with activists over pollution in the Amazon rain forest and the company's human rights record. The nation's second-largest oil company is awaiting a verdict from a judge in Ecuador that could come with a $27 billion price tag. Read More

Chevron's 2008 annual report is a glossy celebration of the company's most profitable year in its history. What Chevron's annual report does not tell its shareholders is the true cost paid for those financial returns, or the global movement gaining voice and strength against the company's abuses. This jointly-produced report documents negative impacts of Chevron's operations around the globe, in stark contrast to the message sent by the company's ubiquitous "Human Energy" advertising campaign. Read More

Originally posted at http://www.sfgate.com/cgi-bin/blogs/green/detail?entry_id=40674 Read More