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Trade Payoffs #277259

CBS Evening News for Friday, May 22, 1981
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(Studio) Senate hearing with regard to law restricting payoffs in foreign trade reported.
REPORTER: Dan Rather

(DC) Era of investigation of so-called bribes by United States companies in overseas transactions recalled; scenes shown. [1978 Exxon controller Archie MONROE - testifies at hearing.] 1977 law recalled passed to prohibit such practices; called Foreign Corrupt Practices Act. [Deputy US Trade Representative David MacDONALD - says law inhibits legitimate sales abroad. ] [Vice President Rohm-Haas John SUBAK - says law hurts.] Senator Banking Committee hearings reported Proposal of new law discussed. [Senator William PROXMIRE - talks of proposal.] [SUBAK - argues for bill.] Some change in law said likely. Small results from present law deplored.
REPORTER: Bruce Morton

Reporter(s):
Morton, Bruce;
Rather, Dan
Duration:
00:02:20

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