Word: cashes
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Dates: during 1980-1989
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...dealers pay the thieves only $50. Since Detroit tears down 2,000 to 3,000 abandoned buildings a year, police are not terribly concerned about the thefts. The most troubling aspect of this new inner-city crime wave is the motive of most of the culprits: to get enough cash for another hit of crack. "Brick stealing is on the upswing, and it's directly tied to the price of the brick," says Charles H. Smith Jr., president of the Oakman Boulevard Community Association. "Crackheads will steal anything, and there's a market for them because somebody's buying...
Behind every successful drug syndicate lies a complex mechanism for recycling bundles of tainted cash into respectable assets. But until two years ago, when Los Angeles narcotics officers seized three Zurich-bound suitcases stuffed with $2 million in currency, there was little hard evidence to implicate the venerable granite-walled banks of Switzerland in such schemes. Since then Swiss banks have been chastened by the disclosure that their accounts were used in a billion-dollar money-laundering operation. The resulting political scandal, in which the Justice Minister was forced to resign, ranks as the worst in modern Swiss history...
Money laundering is not a crime in Switzerland unless it can be shown that the cash flows from criminal activities. Yet Switzerland is a magnet for money launderers because of its legitimate multibillion-dollar trade in foreign bank notes. As much as 3,000 lbs. of foreign currency arrives daily at Zurich's Kloten airport. Much of the cash represents earnings from tourism, which each country's banks exchange for local currency. Swiss authorities are investigating charges that Lebanese currency dealer Barkev Magharian, 35, and his brother Jean, 44, both of whom are now in custody, took advantage of that...
...ROSANNE CASH: HITS 1979-1989 (Columbia). She's got a half-past-4-in-the- morning voice and a knowing way with a song that can make any listener wish the night would go on forever...
Declaring that "goodwill isn't worth doodly-doo," Metzenbaum insisted that S&Ls have at least 1.5 percent in "tangible capital"--cash, stocks and property that could easily be converted to cash and could be seized, in the event of a failure, before turning to government deposit insurance funds...