Word: controlled
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Dates: during 1980-1989
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...cartels told TIME that Escobar, Gacha and Gilberto Rodriguez Orejuela, don of the Cali cartel, recognize Barco's inflexibility and are waiting for his term to expire next August. Says the source: "They'll try to reason with the next President." But "reason" is surely a euphemism for "control." Through intermediaries, the narcos are putting money behind candidates for President, Congress and mayors of key cities. After election day, the bill will come...
Under this multilayered plan, the Paris bank would set up a corporation for the customer in Rotterdam, where he would deposit his cash in the bank's local branch. The American would control the newly created Dutch corporation through an Antilles trust company, but his identity as the owner would be protected by the island group's impenetrable secrecy laws. The Caribbean branch would then "lend" the American his own money held in Rotterdam...
...world's financial system. Drug lords and other lawbreakers are believed to be buying valuable chunks of the American economy, but clever Dutch sandwiches and other subterfuges make it almost impossible for U.S. authorities to track foreign investors. A case in point: blind corporations based in the Netherlands Antilles control more than one-third of all foreign-owned U.S. farmland, many of the newest office towers in downtown Los Angeles and a substantial number of independent movie companies producing films like Sylvester Stallone's Rambo pictures...
...world's financial institutions as part of a vastly larger quantity of gray money, as bankers call it. This dubious, laundered cash amounts to an estimated $1 trillion or more each year. Often legitimately earned, this money has an endless variety of sources: an Argentine businessman who dodges currency-control laws to get his savings out of the country; a multinational corporation that seeks to "minimize" its tax burden by dumping its profits in tax-free havens; a South African investor who wants to avoid economic sanctions; an East German Communist leader who stashed a personal nest egg in Swiss...
Financial experts are beginning to recognize that Washington will be unable to control drug money unless the U.S. compels offshore financial institutions to make their books "transparent" enough to show the true owners of the money. In the end, the Colombian drug cartels are about to force the world to re-examine the international financial system that has developed haphazardly over the 60 years since the Swiss first popularized secret banking. Countries may not yet be willing to make their banking transactions fully "transparent," but some light must be shed on everyone's books. Says Kerry: "It will take significant...