Word: crackings
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...UNSEXY ODORS L.A. cops smear skunk-smelling gel to clear prostitutes and johns from crack houses. Next up: stinky gun pellets to scatter them from afar...
Bacanovic's attorney David Apfel had first crack, repeatedly referring to Faneuil as an admitted "liar" who had smoked pot and taken the drug ecstasy. But when he set out to prove that Faneuil harbored a grudge against Stewart, he mainly succeeded in making people wonder why everyone else didn't harbor one as well. At Apfel's prompting, Faneuil recounted an incident when Bacanovic had put Stewart on hold while he searched for some papers. After a few minutes he asked his assistant to pick up the phone and tell Stewart he would not be much longer...
...your company," touts an ad for one service firm on the territory. Is it the Cayman Islands? Monaco? The Bahamas? No, it's the U.S. state of Delaware, and the services offered there are entirely legal. No wonder success is so elusive in the growing international effort to crack down on tax fraud: one man's shady haven is another man's low-tax financial-services center. Tax havens have been around almost as long as taxes. They have mushroomed in size and importance since the 1970s, when large corporations and international banks started developing sophisticated offshore financial markets...
...attempt to revive talks about increasing cooperation and transparency. Italian Economy Minister Giulio Tremonti challenged his G-7 partners over the weekend to follow suit on his country's draft plan to crack down on tax havens. At a meeting of G-7 Finance Ministers in Florida, Tremonti unveiled details of the proposal - part of a broader regulatory reform to respond to the Parmalat scandal - that requires Italian companies to be far more transparent about offshore holdings, including the way they are accounted for (or not) on the books. In the U.S., John Kerry, the front runner in the race...
...foreign corporations, firms based there are still subject to U.S. federal legislation and regulatory controls far stricter than those in most havens. Because of that regulation, Delaware isn't viewed as a potential problem by most Americans. But Kelly's gripe stands: if you don't crack down on everyone, there's almost no point in cracking down on anyone. At a tense meeting in Ottawa last October, the havens insisted that the rules they signed up for should apply to all. Among their complaints: two major Asian financial centers, Singapore and Hong Kong, aren't even part...