Word: deposits
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After Drug Enforcement Administration agents nabbed a Chilean cocaine smuggler in Beverly Hills, Calif., they found in his bank safety deposit box only one item, a fraudulent U.S. passport. The phony passport and the forged visa have become standard equipment for drug traffickers, illegal aliens and others seeking a sure if shadowy passage abroad. A 1976 Justice Department report estimated that 80% of all hard drugs flowing into the U.S. were smuggled in with the aid of fraudulent passports. Today as many as 300,000 fugitives and terrorists use bogus identity papers, including U.S. passports and visas, to travel freely...
...uncommon in South Florida to see a stream of young people come up to a teller and count out just under $10,000 from overstuffed shopping bags for deposit. The major operators, who find this too cumbersome, have initiated a reverse airlift, sometimes using the same planes that fly drugs into Florida to take suitcases of cash out of the U.S. to discreet banks in places like the Bahamas or the Cayman Islands. Other dealers simply pay a commission, $ 10,000 a week or so, to the dwindling number of Florida bankers willing to fudge or forget their transfer reports...
...from strewing the streets with refuse, it would also give passersby an incentive to pick up the discarded containers. And, as the economists would say, the resulting cleanliness represents an externality--a cost or benefit to society not reflected in the market price. By charging a nickel or dime deposit on bottles and cans, the state would slash pollution. And judging from the experiences of those states which already have bottle laws, Massachusetts could expect reduced energy costs and increased employment...
...interest rates offered by money-market funds, give depositors up to $1,000 tax-free interest ($2,000 for a couple) on one-year investments. The notes carry an interest rate equal to 70% of the prevailing one-year Treasury-bill rate at the time the customer makes his deposit. Yet no sooner did the certificates become available than interest rates on one-year Treasury bills, as well as on other short-term investments, began to slip sharply and erode their appeal. Last week depositors could get a maximum tax-free yield of only 10.77% on All Savers, which...
...bottle bill will cost the consumer, according to very reputable economists, at least $100 million more a year, over and above the deposit costs," King said yesterday in a press release. He added, "The demand for alternative packaging, such as returnable bottles, should come from the consumer, not from Beacon Hill...