Word: america
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Dates: during 1980-1989
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...hauling cash out of the U.S. has its drawbacks. The interest revenue lost while cash is in transit pains a drug dealer as much as it would a corporate financial officer. And since narcotraffickers see America as a safe and profitable haven for their assets, they often launder and invest their cash in the U.S. The first and trickiest step is depositing the hot cash in a U.S. financial institution. Reason: the IRS requires all banks to file Currency Transaction Reports for deposits of $10,000 or more. During the early 1980s, launderers got around this scrutiny by employing couriers...
...jobs and income. South Florida's 100 international banks employ 3,500 workers and pump $800 million into the local economy. Even more appealing is the inflow of foreign capital. During the spend-and-borrow era of the 1980s, the gusher of flight capital into the U.S. from Latin America helped finance America's deficits. As in Hollywood, not many politicians were concerned about where the money was coming from. Alarmed by the tide, House Democrat John Bryant of Texas has long pushed for legislation to require disclosure of the identity of foreign investors. But for years, the Reagan Administration...
...became a specific crime. Later it became illegal to evade the $10,000 currency-reporting requirements by making groups of smaller deposits. Banks have begun to exercise more internal supervision as well, prodded by a series of investigations in the mid-1980s in which such institutions as Bank of America and Bank of Boston were forced to pay hefty fines for their involvement in laundering schemes. Yet many major banks are still participants, witting or not, in ever more sophisticated laundering operations...
...Getting birth-control information and devices to the 2.5 billion people beyond the present reach of family-planning programs will require $8 billion annually, a $5 billion rise from current levels. In 1989 the U.S. contributed $245 million to such programs, less in real terms than in 1979. Unless America reverses its present policy, it sends a message to the world that the U.S. considers mass starvation preferable to the termination of unwanted pregnancies...
...short intellectual distance from justifying one's own position at the top of the heap to protecting that position against any challenges from the bottom. And in the 1980s, America began walking in that direction...