How the Public Loses Out When Politicians Cash In
By joining the boards of Russian energy corporations that benefited from decisions he made while serving as Germany’s chancellor, Gerhard Schröder has clearly breached the trust of the German people. Why can politicians still get away with the kind of behavior that fiduciaries in business know to avoid?
NEW YORK – Three months after Russia launched its second war against Ukraine in a decade, former German Chancellor Gerhard Schröder finally resigned from his post as chair of the board of directors of Rosneft, the Russian state-owned oil conglomerate. Yet while Schröder had held this post since 2017, his entanglement with Russia’s lucrative energy sector is far older and even more dismaying.