Ethical Performance | News | halt of Saudi bribery probe does capitalism an ill turn

halt of Saudi bribery probe does capitalism an ill turn

January 2007 issue

When the public gets to hear of a brown envelope having been handed over, it is usually the recipient of the bribe who attracts the most opprobrium, as the beneficiary from ill-gotten gains. But in the recent and unconnected corruption allegations surrounding BAE Systems and Siemens – two of Europe’s biggest companies – the spotlight has focused not on bribe-takers, but on bribe-payers and their accessories.

In neither case are the executives involved accused of personal enrichment. Those running Siemens’ alleged €420million ($553m, £284m) slush fund for its...

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