What’s the Interest in “Conflict of Interest”?

What’s the Interest in “Conflict of Interest”?

by Rick Messick

“Conflict of interest” is a deceptively simple term devilishly difficult to apply.  It first came into common parlance in the United States in the nineteen fifties thanks to the political uproar former CEO of General Motors Charles Wilson, President Eisenhower’s nominee to be the Secretary of Defense, sparked when he told the Senate committee considering his nomination that the interests of the U.S. and General Motors were aligned.  Senators questioned that premise given that Mr. Wilson owned considerable GM stock and as Secretary of Defense would make decisions that would affect that stock.  His interest in seeing the value of his stock holdings rise would, they asserted, conflict with his duty to advance the national interest and so they demanded he sell the stock to avoid any conflict of interest.http://globalanticorruptionblog.com/2015/01/28/whats-the-interest-in-conflict-of-interest/