CAPITALISM'S ACHILLES HEEL Dirty Money and How to

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CONTENTS Prologue 1 CHAPTER 1 Global Capitalism: Savior or Predator? 11 PART I Illegality: We Like the Money 21 CHAPTER 2 Playing the Game 23 The Dirty-Money User Manual 24 You’re in Business 47 CHAPTER 3 Dirty Money at Work 48 The Corruption Industry 49 The Criminal Component: Drugs, Thugs, 88 and Terrorists Global Commerce and Tax Evasion: Coin of 133 the Realm CHAPTER 4 Magnitudes and Misunderstandings 162 How Much Money? 162 A Failure Rate of 99.9 Percent 173 Well-Intentioned Efforts 174 The Patriot Act 177 Dirty Money Is on the Rise 182 Chasing Terrorists’ Money 183 Ill-Intentioned Loopholes 186 Haven and Secrecy Structure 191 Falsified Pricing Structure 194 We Like the Money 201 Challenge 205 vii
Page 1: CAPITALISM’S ACHILLES HEEL Dirty
Page 4 and 5: concerted actions to reduce opportu
Page 6 and 7: Copyright © 2005 by Raymond W. Bak
Page 10 and 11: viii CONTENTS PART II Inequality: T
Page 13 and 14: PROLOGUE THE GREATEST economic arra
Page 15 and 16: Prologue 3 This was not a dumb ape.
Page 17 and 18: Prologue 5 Interior Mission (SIM) h
Page 19 and 20: Prologue 7 party, rushed him back t
Page 21: Prologue 9 that criticisms are inad
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Page 33 and 34: PART I ILLEGALITY: WE LIKE THE MONE
Page 35 and 36: “ CHAPTER 2 PLAYING THE GAME DIRT
Page 37 and 38: vent anything; just reach in and us
Page 39 and 40: Playing the Game 27 If the local ag
Page 41 and 42: Playing the Game 29 mercial invoice
Page 43 and 44: Playing the Game 31 were valued in
Page 45 and 46: deal, has to interact with a foreig
Page 47 and 48: Playing the Game 35 virtually every
Page 49 and 50: Playing the Game 37 over a million
Page 51 and 52: Playing the Game 39 Oil trading off
Page 53 and 54: two. In the midst of its civil war
Page 55 and 56: Playing the Game 43 negative report
Page 57 and 58: Playing the Game 45 In February 199
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YOU’RE IN BUSINESS Playing the Ga
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money and country. Dirty money is b
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Dirty Money at Work 51 • Channel
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Dirty Money at Work 53 In terms of
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Dirty Money at Work 55 Althrop. At
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huge transfers in and out of 150 Sa
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Dirty Money at Work 59 stories to i
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Dirty Money at Work 61 Until the la
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Dirty Money at Work 63 directive is
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Dirty Money at Work 65 out visas, w
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Dirty Money at Work 67 ships with T
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Dirty Money at Work 69 Suharto (als
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TABLE 3.2 THE ABUSE OF FOUNDATIONS
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Dirty Money at Work 73 nomic factor
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TABLE 3.3 SUHARTO FAMILY HOLDINGS A
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Dirty Money at Work 77 ing the nati
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Dirty Money at Work 79 companies, B
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Dirty Money at Work 81 TABLE 3.4 FO
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Dirty Money at Work 83 power, one o
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Dirty Money at Work 85 ing him to s
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Dirty Money at Work 87 substantial
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money tricks to move their illegal
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TABLE 3.7 ECONOMICS OF DRUG TRAFFIC
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Dirty Money at Work 93 UN estimates
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Dirty Money at Work 95 group provid
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Dirty Money at Work 97 his way into
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Dirty Money at Work 99 tion, Banco
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TABLE 3.8 CROSS-BORDER CRIMINAL ACT
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TABLE 3.8 (Continued) Dirty Money a
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Burma, Turkmenistan, Iraq, Belarus,
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TABLE 3.9 (Continued) Criminal Grou
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TABLE 3.9 (Continued) Criminal Grou
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Dirty Money at Work 111 Former Offi
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years on the Central Committee. His
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Dirty Money at Work 115 nanced the
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Dirty Money at Work 117 sources to
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Dirty Money at Work 119 groups, eac
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TABLE 3.10 TERRORIST ORGANIZATIONS
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Syria, Iran, Pakistan, Sudan, and t
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Dirty Money at Work 125 office know
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designated by the U.S. State Depart
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Dirty Money at Work 129 dam’s ove
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Dirty Money at Work 131 negotiate p
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enues, revenues that we helped prov
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TABLE 3.11 INVOICED PRICES OF SELEC
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Dirty Money at Work 137 TABLE 3.12
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Dirty Money at Work 139 ing kickbac
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Dirty Money at Work 141 Jonathan Kw
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companies were recommended for fina
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Dirty Money at Work 145 into accoun
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Dirty Money at Work 147 United King
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Dirty Money at Work 149 were report
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ment that is built on the premise t
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Dirty Money at Work 153 tried and p
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Dirty Money at Work 155 In her exce
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Dirty Money at Work 157 Were these
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Dirty Money at Work 159 that case i
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Dirty Money at Work 161 of financia
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Magnitudes and Misunderstandings 16
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Corruption is by far the smallest o
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have every reason to conclude that,
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FATF is not an organization establi
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• Reduce the strengthened “due
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• Global corruption probably has
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Does this transaction violate U.S.
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concentration accounts, and more—
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countries, amassing to trillions of
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“ PART II INEQUALITY: THE GAP MAT
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Inequality: The Gap Matters 209 dat
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The Global Divide 211 arranged into
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The Global Divide 213 TABLE 5.1 RAN
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The Global Divide 215 Achilles heel
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have continued over the past decade
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The Global Divide 219 FIGURE 5.4 TO
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The Global Divide 221 In the 1950s
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FIGURE 5.6 LORENZ CURVE The Global
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The Global Divide 225 ments. At lea
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The Global Divide 227 Global Povert
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The Global Divide 229 Inequality Is
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The Global Divide 231 To begin with
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The Global Divide 233 volves natura
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countries, between countries, and g
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capital transfer. Hundreds of billi
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The Global Divide 239 that inequali
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development experience can fail to
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“I Don’t Understand” and “D
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uy U.S. Treasury notes or make a re
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TABLE 6.2 HOW TO SPEND $100 BILLION
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It’s the 70 to 90 Percent that Ma
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280 CAPITALISM’S ACHILLES HEEL Eu
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CHAPTER 8 THE ANGUISH OF ADAM SMITH
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284 CAPITALISM’S ACHILLES HEEL Th
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286 CAPITALISM’S ACHILLES HEEL Be
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288 CAPITALISM’S ACHILLES HEEL Pr
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290 CAPITALISM’S ACHILLES HEEL ag
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292 CAPITALISM’S ACHILLES HEEL ha
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CHAPTER 9 THE JOYS OF JEREMY BENTHA
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310 CAPITALISM’S ACHILLES HEEL lo
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CHAPTER 10 PHILOSOPHY BECOMES CULTU
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314 CAPITALISM’S ACHILLES HEEL Th
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316 CAPITALISM’S ACHILLES HEEL on
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318 CAPITALISM’S ACHILLES HEEL to
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320 CAPITALISM’S ACHILLES HEEL be
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322 CAPITALISM’S ACHILLES HEEL Ac
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324 CAPITALISM’S ACHILLES HEEL ut
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326 CAPITALISM’S ACHILLES HEEL gr
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328 CAPITALISM’S ACHILLES HEEL I
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330 CAPITALISM’S ACHILLES HEEL CH
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PART IV RUN IT RIGHT: TRUST THE SYS
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Run It Right: Trust the System 335
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CHAPTER 11 CAPITALISM’S ACHILLES
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Capitalism’s Achilles Heel 339 is
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Capitalism’s Achilles Heel 341 no
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Spreading Prosperity 343 in place t
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Spreading Prosperity 345 3. Each re
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Spreading Prosperity 347 which gets
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Spreading Prosperity 349 Existing U
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Spreading Prosperity 351 goods and
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Spreading Prosperity 353 Then we ca
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Spreading Prosperity 355 turn of th
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Spreading Prosperity 357 Nigeria, B
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over that line, it becomes very dif
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cipline that is available to analys
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Spreading Prosperity 363 others. ..
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Spreading Prosperity 365 scheme is
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Spreading Prosperity 367 of the twe
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Renewing Capitalism 369 the months
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Renewing Capitalism 371 poverty, th
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Renewing Capitalism 373 economies i
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Renewing Capitalism 375 together wi
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378 ACKNOWLEDGMENTS Craven, Mike On
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380 ACKNOWLEDGMENTS my thinking and
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NOTES Interviews that are not for a
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CHAPTER 2 Playing the Game Notes 38
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Notes 387 (A), January 2004, 33, ww
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Notes 389 From Top to Bottom, bk. 1
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Notes 391 68. Business Recorder (Pa
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Notes 393 96. Oscar Libon, “Peru:
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Notes 395 tions,” flash fax docum
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Notes 397 has long been considered
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Notes 399 161. Vito Tanzi, Policies
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Notes 401 199. Mark L. Clifford,
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227. “Report on Relations between
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Notes 405 “There’s no question
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Notes 407 a place for laundering. T
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Notes 409 51. In 1988 in the Anti-D
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CHAPTER 5 The Global Divide Notes 4
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Notes 413 14. Ibid., 87. 15. Counci
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Notes 415 of Trade database. . . .
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16. Louis Uchitelle, “World Bank
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the principle of approbation.” Th
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Notes 421 2. Ibid., 32. 3. Ibid., 4
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CHAPTER 11 Capitalism’s Achilles
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426 INDEX Bahamas, 36, 73, 125, 192
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428 INDEX Corrupt component of dirt
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430 INDEX Failed states, 203 Faking
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432 INDEX Iraq, 105, 119, 127-133,
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434 INDEX Oil sales, unrecorded, 16
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436 INDEX Singer, Peter, 325 Small,
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438 INDEX Utility Bentham and, 302-
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