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Controlling corporate lobbying and financing of political activities
Transparency International
Transparency International
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Abstract
Conflicts of interest emerge when lawmakers or their families have direct financial stakes in the industries they are meant to regulate. A common and disconcerting practice in the United Kingdom is the granting of seats on company boards to politicians. Equally troubling is the ‘revolving door’ phenomenon that describes the exchange of staff between corporations and government — a practice that frustrates attempts to separate business interests from political decisions. At recent count, at least 70 former US state senators from Texas were working as lobbyists, employed to seek influence with former colleagues. In the UK, politically connected firms account for almost 40 per cent of the value of publicly-traded companies, a figure which rises to over 80 per cent in Russia."
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2009-09-04
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With permission of the license/copyright holder