I chose the Multi-National Corporation, Citigroup. Citigroup, not a “tax-avoider” but a “tax-evader,” not that there’s anything wrong with that (smirk) –“Reagan director of enforcement, John M. Fedders, had been a corporate lawyer. He read his staff’s report and wrote, “Assuming that Citicorp’s conduct was illegal, this fact alone is not sufficient to have required disclosure or to justify the initiation of an enforcement proceeding…I do not subscribe to the theory that a company that violates tax and exchange control regulations is a bad corporation…” was created in June 1812 in New York, New York as City Bank of New York. This corporate “person” birthed Banamex in1884, SmithBarney in 1873, Bank Handlowy in 1870, Salomon Brothers in 1910; then, First National City Corporation became the parent company in 1968, and in 1998, all divisions merged with all divisions of Travelers Group, and became the CitiGroup we (mostly) see today.
Operating under the umbrella name Citigroup, under the helm of CEO Vikram Pandit, as more than 200 corporations in 160 countries and jurisdictions, Citigroup booked 200 million accounts as of the end of 2011. They provide for two distinct types of banking, A: Citicorp, overseeing Regional Consumer Banking/Institutional Client (Government, MNC’s, etc.) accounts, and Citi Holdings, overseeing Brokerage/Asset Management, Local Consumer Lending, and that special Special Asset Pool. To have a Special Asset Account, you must be a Five-millionaire.
I chose this MNC because of their long-term strategy to maintain a profitable amount of instability, as evidenced by a generational anti-taxation attitude. Being that the stated goals of the 9/11 terrorists was to disrupt the American economy, I see a very clear similarity in intent. Though clearly not a terrorist group, a non-allegiant MNC operating as one of the four largest financial institutions in the world without any reason to seek political or economic stability is without doubt part responsible for the coming bursting bubble. But, then again, aren’t we all?
In 2009, TARP funds totaling at least $356 billion were repaid in full by Citigroup. What this means is that we feel a little more comfortable with the idea that they are financially healthy enough to pool their money together with their vey richest investors (all connected through other banks and lobbyists, no doubt—Citigroup, says SourceWatch, employs more lobbyists than any other financial services company) and buy America (all of her debts, as I believe is how the Fed. We have now was created to begin with, in 1913. Competing Fed. Reserves? AWESOME! NOT!) ) if their ideological partners in the legislative branch convince the populace to vote against allowing further Federal (Keynesian) actions in the event of (duh, when we hit another) financial crisis. Finally, I believe citizens are owed an accounting of the business practices that allow for the beating of a man to death in (see article…NPR linked.) Indonesia.
Source: http://www.sourcewatch.org/index.php?title=Citigroup http://thinkprogress.org/politics/2011/02/28/147085/gop-congressman-usuncut/http://www.taxjustice.net/cms/upload/pdf/Citigroup_-_a_culture_and_history_of_tax_evasion.pdf http://www.huffingtonpost.com/2011/06/30/citi-sued-for-mans-death_n_887754.html http://www.citigroup.com/citi/business http://www.citigroup.com/citi/corporategovernance/data/citibankna_as.pdf?ieNocache=822 http://www.citigroup.com/citi/press/2009/091223b.htm
Writing Assignment Non-State Actors
Go to one or more of the following websites. Choose an international advocacy group, terrorist group, or multinational corporation and describe: 1) background; 2) leadership;
3) organizational structure. Type your answers in the box below using your own words, no outline or bullets, complete sentences and paragraphs, single-spaced, full-page.
Give as much detail as possible. www.globalpolicy.org/ngos/index.htm ,
www.icons.umd.edu/reslib/research.display_links?simnum=&name=&v_catnum=7 , www. nps.edu/Library/Research/SubjectGuides/SpecialTopics/TerroristProfile/
TerroristGroupProfiles.html , www.swlearning.com/web_resources/global_comp.htm
Wednesday, February 29, 2012
Describe MNC, Leadership, Organizational Structure---NonState Actors
Posted by Soup McGee at 9:15 PM