Word: liechtensteins
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...someone gasping for air, with both hands clasped around their neck, we recognize this as the international sign for choking. This sign has been accepted since the signing of the International Act for Choking Recognition in 1834 and is used in every country in the world except Liechtenstein. Since they are not bound by the treaty, to sign "I am choking," Liechtenstinians hum the theme song from "The Greatest American Hero" while frantically performing the motions for "I'm a Little Teapot." More than 300,000 Liechtenstinian tourists choke to death in foreign countries every year...
...LIECHTENSTEIN: Charity sometimes begins on the Web, or at least that's what the International Red Cross is hoping with its new Internet gambling site. The Liechtenstein-based site, a cross between Clara Barton and your local 7-Eleven, offers a number of lotto games -- and 25 percent of the proceeds go to the medical organization. After giving a credit card number, you get java-based games that play like the regular lottery, with odds just about as bad. A potentially confusing stumbling block: Tickets (and winnings) are in Swiss Francs (One SF currently equals 69 cents). Other major charitable...
...which one might respond with a hearty "Whatever," until you recall we are talking about what is known, in candidate lingo, as "the greatest country on earth." If this were Liechtenstein or Togo, maybe a little apathy would be in order. But it's another matter when the heirs of Lexington and Valley Forge come to find their communal affairs so repellent...
...could the financial cops have allowed two such blatant scandals to take place? Part of the answer is that the international financial system is rife with offshore tax havens, secrecy laws and virtually unregulated banking zones. Maxwell's family trusts were incorporated in Liechtenstein, and B.C.C.I. was incorporated in Luxembourg. Both countries are known for their lax regulation. In each case, the con men made billions of dollars disappear through the world's cracks and loopholes...
...three holding companies are also directly and indirectly linked to dozens of other family-controlled enterprises. Maxwell's creditors were unaware of the nature of the corporate structure because the man whose wealth was estimated at $1.8 billion incorporated family trusts in Liechtenstein, where tax laws and disclosure rules are virtually nonexistent. Not even Maxwell family members were aware of the web's scope. Said son Kevin, 32, who succeeded his father as chairman of Maxwell Communication until he stepped ^ down last week: "Clearly we didn't know everything, and clearly he had a style of business where probably...