Word: deposit
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...banking experts say, is to have your own bank that is funded by nameless wire transfers to Switzerland, the Caymans, Liechtenstein. It's still unclear as to whether Madoff had his own bank, but there is always the ever popular method of hidden safes and multiple, anonymously managed safety-deposit boxes loaded with cash, or even better, "bearer bonds," an old-fashioned but effective tool that is as good as cash and can be presented to banks by anyone bearing them - no questions asked. Today they are used frequently in Central America. Typically, bearer bonds pop up years later...
...outlook is the rush to cancel orders for new ships. Clarksons of London, the world's largest shipbroker, announced that new orders had dropped from 378 vessels in October 2007 to just 37 last October. In November, New York?based Genco Shipping and Trading wrote off a $53 million deposit in order to get out of a $530 million deal to buy six new vessels, freeing up liquidity and strengthening the firm's "ability to act opportunistically," a Genco spokesman said. As companies pull back to protect their bottom lines, many are simply taking ships out of service, says Kriton...
GMAC also has applied for TARP funding and is counting on the benefits of its new bank status. "We'll also be able to broaden our deposit base as a bank holding company. We'll have access to more funds by ramping up our deposit taking over the Internet," says GMAC spokeswoman Gina Proia...
...Lotteries have the powerful incentive of providing a variable reinforcement, with big payouts sometimes and smaller ones others," says Volpp. "For the deposit contract, the idea is that people are very averse to losing money. It's good to have some skin in the game...
...lucky enough to be part of one of Volpp's studies or have an enlightened insurer or employer? Not a concern. Spouses, parents and friends can set up lotteries or deposit contracts for one another too. Or you can make it even simpler: give a trusted person $100 or so, with instructions that if you cheat on your diet or no-smoking pledge, the money be donated - in your name - to a political candidate or group you find objectionable (Greenpeace if you work for an oil company, for example, or an SUV club if you work for Greenpeace). Whatever...