What exactly was the "mensalao" scandal? It was an alleged scheme that embezzled public funds to buy political support for the then Lula government and to pay off debts from election campaigns. The central accusation was that politicians from coalition parties were given large payments each month to support the minority government led by the Workers’ Party. The scandal nearly caused the Lula administration to collapse. How did the affair come to light? The scandal broke in 2005 when a congressman
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reality for many Americans. This devastating loss left many taxpayers with misappropriated assets along with a burden to pay the “bill” for the bailout of AIG. PART I: HOUSING MARKET SCANDAL: VIOLATIONS IN BUSINESS OPERATIONS To understand the accounting scandal of AIG‚ one must first understand its business transactions and operations leading up to the SEC investigations. In 1993‚ President Bill Clinton signed into law the Omnibus Budget Reconciliation Act‚ commonly
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CNN states “Automotive traditionalists are understandably upset that a brand with a long and storied history like Saab has wound up on the financial chopping block.” In 1990 GM bought 50 percent of Saab it is believed that most of the blame for Saab ’s failure is GM’s fault (Taylor III‚ 2011). Both Saab and Chrysler were in a position where they both needed to be rescued. The facts are that the Saab and GM merger were all at a loss before the merger began. As I have read the financial crisis that
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Rampart Scandal By: Cindy Medina Cindy Medina CJCU 403 John Strain April 15‚ 2012 Rampart Scandal in the LAPD Department Growing up everyone has been told stories of cops and how they represent being hero’s. Cops are supposed to save peoples lives and stand up against crime and violence but the stores we have been told are not exactly one hundred percent correct. The LAPD was involved in one of the most talked about scandals known as the Rampart Scandal
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National TV and lying to the public. Imagine that President then getting caught. This is the Scandal that caused the first ever resignation in United States History‚ Watergate. The Scandal involved approximately 70 people‚ but only 25 were actually found guilty. Many people who were found guilty were some of President Nixon’s top officials. Including G. Gordon Libby‚ John Dean‚ and H. R. Haldeman. The watergate scandal resulted in a loss of trust in the federal government‚ many people being found guilty
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Enron Scandal In 1985‚ Enron was formed by Kenneth Lay after the merging of Houston Natural Gas and InterNorth. In the 1990s‚ Lay helped to initiate the selling of electricity at market prices. Markets made it easier for Enron to sell energy at higher prices‚ which caused the company to get richer. Enron was the largest merchant of natural gas in 1992. In November 1999‚ the creation of EnronOnline enabled Enron to develop‚ negotiate and manage its trading business. By 2001‚ Enron became a
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PRIORITY DEVELOPMENT ASSISSTANCE FUND (PDAF) By: PEREZ‚ Chrysalyka C. I. INTRODUCTION PDAF or Priority Development Assistance Fund is a form of pork barrel which has been a very controversial issue in our country today. These are funds given or allocated to government officials in order to support and be spent on community projects and/or repairs and improvements. G. Luis Igaya of Institute for Popular Democracy defined pork barrel
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Enron scandal Enron shocked the world from being “America’s most innovative company” to America’s biggest corporate bankruptcy at its time. At its peak‚ Enron was America’s seventh largest corporation.From the 1990’s until the fall of 2001‚ Enron was famous throughout the business world and was known as an innovator‚ technology powerhouse‚ and a corporation with no fear. The sudden fall of Enron in the end of 2001 shattered not just the business world but also the lives of their employees. Enron
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CASE SUMMARY Company Overview Founded in 1819 in Vienna and traded since 1869 on the Vienna Stock Exchange‚ Wienerberger can look back on a great tradition. Only in 1986 the company started its dynamic expansion‚ which has focused on building materials since the introduction of Value Management in 1997. This transformed Wienerberger from a local Austrian brick-maker into the world’s largest producer of bricks within a few years. Wienerberger encompasses 3 divisions‚ namely bricks‚ pipes
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The Watergate scandal had everything. Nixon disgraced the presidency by lying to the country and abusing his power and his committees were involved in illegal acts and a big cover up‚ all leading to little side roads of corruption and lies. Watergate is by far one of the worst presidential scandals in the history of the United States. In the story of Watergate‚ five burglars were found breaking into democratic offices at the Watergate complex in Washington DC. The break-in was passed off as just
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