Word: cash
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...ruling for the parents could have serious financial implications for cash-strapped school districts. Federal funding for private special-education placements, including residential and nonresidential programs, totaled $5.3 billion in the fiscal year 1999-2000, the most recent year for which data is available from the Special Education Expenditure Project, a national study begun in 1999 and funded in part by the U.S. Department of Education. In New York City alone, the number of reimbursement claims by parents who have unilaterally placed their kids in private special education rose from 3,023 to 4,068, and the city's spending...
...This indicates, he says, a likely inflow of illegal money. The U.S. government's recently released 2009 International Narcotics Control Strategy Report backs up those suspicions. Guatemala also has an unusually high number of luxury cars and high-end real estate purchases, Lee says, and buyers often pay in cash. Guatemala City has seen a boom in fancy high-rise apartment and office buildings in recent years, which authorities and analysts suspect is driven in no small part by money laundering. "One can find entire condominium complexes that never sold" any units, says Lee. (See pictures of drug lords' latest...
Guatemalan authorities have apprehended dozens of suspects in recent years leaving the country with large wads of cash, often hidden under clothing or stuffed into items like shampoo bottles, book covers and diapers. Last year, the Guatemalan government confiscated $3.4 million in suspicious funds at the Guatemala City airport and sent 20 people to jail, most of them from other Central and South American countries, says Leopoldo Liu, head of the public prosecutor's office on money laundering. (See pictures of South America on LIFE.com...
Guatemala was taken off the FATF blacklist in 2004. Still, the country's suspected narcobosses are rarely prosecuted. Nor is there much public outrage about the cash doled out by traffickers. In Huite, says the law student, the majority of her childhood friends are now employed in some form by people she calls drug traffickers. In the past, she notes, most local youth had to migrate to the U.S. to look for work. It's also common, she adds, to see long lines of La Reforma's poor waiting for favors outside the homes of suspected narcofamilies, who also send...
...Hanoi has been calling for increased investment, and is even more desperate for external cash infusions now that its economy has flatlined. Vietnam has also racked up a massive trade deficit with China. As more Chinese companies venture across the border and sink millions into new investment projects, Hanoi can't dictate all the terms. Nor can they just close the spigot. "The Vietnamese have to be careful of what they wish for," says Thayer...