The U.S. has been policing bribery all over the world for nearly half a century using a law called the Foreign Corrupt Practices Act. But now, President Trump has said that this anti-corruption law is crippling American businesses. Since taking office, his administration has reduced the number of investigators, killed some cases, and changed the rules.
In this episode, we look at the FCPA case against Glencore, a large commodity trading company, found guilty in 2022 for paying cash bribes in exchange for lucrative contracts all over the world.
And we go back to the inception of the law, a time when using bribes to pay off foreign officials was considered "grease in the wheels" - a reasonable (if unethical) way to get business done.
This episode was hosted by Amanda Aronczyk and Erika Beras. It was produced by Willa Rubin. It was fact-checked by Emily Crawford with help from Willa Rubin. It was edited by Marianne McCune. It was engineered by James Willetts. Alex Goldmark is Planet Money's executive producer.
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