If you meant by US regulatiors, that would probably not apply to other non-American banks in Mexico either (HSBC, BBVA, Scotiabank, RBS, et al.)

“What was wrong with their (Mexico’s) existing retail players? YOu don’t know – you’re just reflexively defending Wal-Mart with no facts.”

Really, Dollared, Mexican consumers appear to be choosing Walmart in preference to other retailers, don’t they? That fact – implicit in sales figures – kind of speaks for itself. Are you actually doing the people of Mexico a favor by advocating that the Walmart option be taken away from them? Clearly, you seem to think so, but it’s the consumers who should have the right to decide for themselves, isn’t it?

When the people of Mexico resolve to change the way people in authority conduct themselves, it will change. We in the US face the same challenge. Neither appears to be making much headway.

And thanks for your pontification on the civilizing benefits of Wal-Mart for the beknighted Mexican people. What the hell do you know about it? What was wrong with their existing retail players? YOu don’t know – you’re just reflexively defending Wal-Mart with no facts.

And no, the Mexican people (and the Indian people) don’t just accept corruption. They hate corruption. But once instituted, it is insanely difficult to root out. That’s why the Foreign Corrupt Practices Act is so important – so we Americans don’t contribute to corruption.

Shame on you for your fact-free corporate shilling.

“Yes, Wal-Mart (and many other corporations) engage in some pretty abhorrent business practices, but bribery is a comparatively minor one.”

Damn right – compared to the kind of stuff Unocal was mixed-up in over in Burma, WMT’s mischief looks as trivial as the antics of The Little Rascals.

This is the part that Americans have a hard time getting their heads around -

“… government officials view accumulating wealth through bribes as being a major perk of their positions, and the culture generally does not view extortion/bribery as being morally wrong.”

The principle of “equality before the law” is bedrock American thinking, and it’s what makes corruption morally wrong. The general populations of the 2nd and 3rd worlds don’t accept the principle; thus they see no moral trespass in extortion or bribery.

Since Citizens United was decided, I’m hearing that it’s now open season for pols to shakedown corporations with impunity. Fact is, corporate America is quickly learning to hate that decision almost as much as the US left does.

Anyone who has done business abroad knows that paying bribes is pretty much standard operating procedure in most second and third world countries, in that government officials view accumulating wealth through bribes as being a major perk of their positions, and the culture generally does not view extortion/bribery as being morally wrong.

And let’s not pretend that we are saints here in the USA….just look at our current campaign finance system, which is basically legalized bribery. Corporations and individuals do not simply give thousands/millions of dollars to candidates every election simply out of the goodness of their hearts. They expect to get something in return.

This – v v – happens today in a lot of places -

” I had a Mexican friend back in the 70s, and he would always amaze me with his stories of being pulled over by a cop and being told to pay a bribe,….”

This – v v – was the thought and hope -

“One might hope that a force as powerful as Walmart would manage to sail the Mexican sea without making payoffs….”

That was wishful thinking. Still is. This – v v – is the part that is pertinent today –

“Walmart really had no choice other than not to expand into Mexico….”

Nobody is forced to shop at Walmart – people choose to do so because of the perceived value for money spent that Walmart offers. And WMT isn’t forced to operate everywhere – they also choose. Are Mexicans worse off because they have Walmarts to choose from? Don’t think so. Is WMT worse off being in Mexico and China? Dunno – maybe.

Mexico was and is amazingly corrupt. No one who does business there has never paid a bribe, even if they paid it through some agent, for example, a driver or lawyer. One might hope that a force as powerful as Walmart would manage to sail the Mexican sea without making payoffs, but that would be wishful thinking. In Mexico, bribery is a way of life, and Walmart really had no choice other than not to expand into Mexico.

Besides, Americans need to mindlessly consume with abandon and Wal-Mart is a happy place for them. That’s a freedom Americans take very, very seriously. In fact the bill of rights should probably be amended to clearly state this above all else first.

An army of obese people who load up their Wal-mart carts with crap and burden the healthcare system would be out with pitchforks if you messed with Wal-mart. How much of Wal-marts profits are due to welfare again???

The most damaging aspect to our economy, and every other country’s, and the basis for our strength, is the proliferation of multinational corporations which do not care about which country will benefit from their enterprises, if any.
This in turn is steadily leveling off the economic gap between poor and wealthy nations. However another not so obvious direct effect of the multinational corporations is that the gap between the rich & the poor is widening in every country, which means that these mega corporations are becoming economically independent from any country while making their profits from the countries that are the most profitable for them.
Simply put, mega corporations are becoming their own countries.
Some of today’s mega corporations worth is already more than that of many small countries.