This Planet Money episode investigates the history of the Foreign Corrupt Practices Act (FCPA), a U.S. law prohibiting American companies from bribing foreign officials. The episode traces the origins of the FCPA to the Watergate scandal and Senator Frank Church's investigation into corporate bribery. It details how the U.S. government initially struggled to enforce the law due to concerns about American companies' competitiveness, leading to international cooperation through the OECD. The podcast then focuses on the Glencore bribery case, where the company paid millions in bribes to secure oil contracts, and the subsequent DOJ investigation and penalties. Finally, the episode examines the Trump administration's shift in approach to the FCPA, including reduced enforcement and a focus on whether bribery harms U.S. businesses or national security, particularly in the context of competition with China for critical minerals.
