Amway says FTC is soft on MLMs?

This one comes from Zac Bissonnette over at BloggingStocks.com. He said it a little more politely than I might have. But it’s interesting that the oldest and yuckiest of all MLMs is willing to admit that the FTC is not hard enough on MLM regulation. Here’s a part of what Zac had to say:

Here’s where it gets interesting. Many people, myself included, have charged that the FTC is not doing enough to crack down on multi-level marketing companies using false and misleading recruiting tactics. based on the text of the memo, Amway seems to agree:

“The fact is, in the wake of this sobering experience, every one of us — employees, IBOs, and others — should renew our commitment to hold ourselves to the highest standards of behavior. The marketplace — and in the UK, the government — has made it clear that they expect no less. And when falling short of those standards exposes our company to such grave risk, there can no longer be any such thing as ‘business as usual.’” (emphasis added)

In other words, the government of United Kingdom has made it clear that it will hold Amway to the highest standards of behavior — but the United States has not followed the lead.

Perhaps Amway’s massive political contributions have had something to do with that. it’s a shame that our elected officials are putting the interests of special interest groups ahead of those of consumers. That’s just business as usual in the land of the free, home of the brave.

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1. New accounting standard issued
2. SEC and corporate fines
3. Ameriquest Mortgage offers settlement to consumers
4. Spending More Money on Education Does Not Work
5. Sarbanes-Oxley and informants (and the Overstock.com and Patrick Byrne connection)