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Posts Tagged ‘Corporate Control’

Trade-Based Money Laundering - 2006Trade-Based Money Laundering

There are three main methods by which criminal organisations and terrorist financiers move money for the purpose of disguising its origins and integrating it into the formal economy. The first is through the use of the financial system; the second involves the physical movement of money (e.g. through the use of cash couriers); and the third is through the physical movement of goods through the trade system.

In recent years, the Financial Action Task Force has focused considerable attention on the first two of these methods. By comparison, the scope for abuse of the international trade system has received relatively little attention.

The international trade system is clearly subject to a wide range of risks and vulnerabilities that can be exploited by criminal organisations and terrorist financiers. (more…)

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FilmMattic: Movie Review: Too Big to FailTHE AIG RESCUE, ITS IMPACT ON MARKETS, AND THE GOVERNMENT’S EXIT STRATEGY

CONGRESSIONAL OVERSIGHT PANEL
JUNE OVERSIGHT REPORT, JUNE 10, 2010

FIGURE 3: GOVERNMENT ASSISTANCE TO AIG AS OF MAY 27, 2010 2
[Dollars in millions] Amount Authorized — Amount Outstanding as of 5/27/10
Federal Reserve [Inc.]
Revolving Credit Facility … $34,000 — $26,133
Maiden Lane II: Loan extended by Federal Reserve [Inc.] … 22,500 — 14,532
Net portfolio holdings of Maiden Lane II LLC … 0 — 15,910
Accrued interest payable to Federal Reserve [Inc.] … 0 — 342
Maiden Lane III: Loan extended by Federal Reserve [Inc.] … 30,000 — 16,206
Net portfolio holdings of Maiden Lane III LLC 3 … 0 — 23,380
Accrued interest payable to Federal Reserve [Inc.] … 0 — 427
Preferred interest in AIA Aurora LLC … 16,000 — 16,266
Accrued dividends on preferred interests in AIA Aurora LLC 0 — 125
Preferred interest in ALICO SPV … 9,000 — 9,150
Accrued dividends on preferred interests in ALICO Holdings LLC 0 — 70
Total Federal Reserve [Inc.] … 111,500 — 83,251

TARP (more…)

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The “too big to fail” theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and that they therefore must be supported by government when they face potential failure. — Wikipedia

THE AIG RESCUE, ITS IMPACT ON MARKETS, AND THE GOVERNMENT’S EXIT STRATEGY

CONGRESSIONAL OVERSIGHT PANEL
JUNE OVERSIGHT REPORT*

JUNE 10, 2010.—Ordered to be printed

EXECUTIVE SUMMARY*
At its peak, American International Group (AIG) was one of the largest and most successful companies in the world, boasting a AAA credit rating, over $1 trillion in assets, and 76 million customers in more than 130 countries. Yet the sophistication of AIG’s operations was not matched by an equally sophisticated risk-management structure. This poor management structure, combined with a lack of regulatory oversight, led AIG to accumulate staggering amounts [liabilities], (more…)

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South Africa: FW De Klerk & Friends to Government – Stop Creating Bogeymen and Start Addressing Real Issues
By REBECCA DAVIS, Feb. 2017

It’s 27 years this week since FW de Klerk announced the unbanning of the ANC, but South Africa’s last apartheid president isn’t done talking yet. At the annual conference of his foundation in Cape Town, De Klerk did not mince his words when describing his fears for the white population of the country. Economist Moeletsi Mbeki urged the government to stop scapegoating and to abandon a posture of “victimhood”. Pepkor billionaire Christo Wiese, meanwhile, expressed a need for a business-friendly environment.

FW de Klerk has made no secret of his differences with South Africa’s current government in recent years, but on Thursday he delivered perhaps his harshest condemnation to date. In front of a well-heeled, majority white audience in Cape Town – including the likes of South Africa’s richest woman Wendy Appelbaum and (more…)

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President David Arthur Granger of Guyana addresses attendees during the 70th session of the United Nations General Assembly at the U.N. Headquarters in New York, September 29, 2015.President David Arthur Granger of Guyana. Carlo Allegri / Reuters

Guyana Strikes Oil
What the Windfall Means for the Country—and the Region
By Raúl Gallegos, Foreign Affairs, 02-02-2017

Nearly 40 years ago, tragedy struck Guyana when [Jim Jones got] nearly 1,000 of his followers [in Jonestown to get killed while the story got sold as] hole up in their socialist commune and commit mass suicide by drinking cyanide-laced Kool-Aid. The “Jonestown” massacre earned top billing in the news. On its cover, Time magazine ran a photo of dead bodies strewn next to a vat filled with the poisoned drink.

Guyana now faces another threat […] on a much larger scale. The tiny South American country of roughly 800,000 people recently discovered a massive amount of oil in its territorial waters. (Venezuela also claims that territory.) The U.S. energy giant ExxonMobil, which made the discovery, suggests the (more…)

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The Simple, Literal Explanation
Patrick Byrne, Mark Mitchell, 2008

Part 1, here

You and I enter a stock trade. You buy a share of stock from me.  You hand over your money, and I hand over the share of stock. That is called, “settlement.”

It may surprise you to learn that there are loopholes in our nation’s regulations that permit some people, when it comes time to settle, to hand over nothing but an IOU.  By using one of these loopholes, when the time comes for settlement I can take your money but say, “I’m not delivering you any stock. I’m just giving you an IOU for a share of stock that I will deliver later.”

There are reasons these loopholes came into existence. If someone made a mistake by signing the wrong line on a form, for example, or mistakenly sold more shares than he really had, one would not want the (more…)

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Image result for magic moneyThe Simple, Metaphorical Explanation
Patrick Byrne, Mark Mitchell, 2008

When [we] travel to another country, the first thing we do when we land is change some US dollars into the local currency. Perhaps you change enough to get a cab to the hotel, go out and buy a meal, etc. For the duration of your stay you keep changing your dollars into the local currency to get around. Then when you are ready to leave, you take whatever you have left and you convert it back into dollars, or spend it, or give it away, and board the plane back to the United States.

Yet imagine that there are some travelers [who] are allowed to take a small machine that prints out the local currency. If they are in Paris, it prints out Euros. If they are in London, it spits out British Pounds. When in Mexico City, it prints pesos. And so on and so forth. On every trip, however, this special “currency machine” keeps track of how many (more…)

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