Word: moneyitis
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...which would seem to prove that fame is no longer worth anything. But it really just shows that selling stuff is a waste of time. I don't want you to read this in the print version of TIME because TIME gets more money that way; I want you to read it here because there are two photos of me on this page. If they find a way to fit a third one in, I'll start writing for free...
...wake of the 9/11 attacks, the West moved quickly to crack down on the money laundering and secret banking systems that fund much of the terrorism in the world. But as evidence in both the U.S. and Europe suggests, illicit finances continue to circulate around the globe - and quite often the money has nothing to do with violence, but plain greed. Indeed, a new report released by the U.S. Senate this month cites cases of huge volumes of suspect cash being moved from Africa to the U.S. for no other reason than to fatten the bank accounts of crooked leaders...
...long as mass corruption, dirty money and banking secrecy are not eradicated together as a single priority, you'll never defeat the sub-activity within that funding terrorism," says François Valerian, head of private sector programs at the Berlin-based anti-corruption organization Transparency International. "Western nations recognize the urgency to treat this problem when it involves terrorism, but they become more pragmatic when it's in the form of ordinary corruption bleeding entire countries...
...Proof that much work remains to combat both was provided on Feb. 4 when the U.S. Senate's subcommittee on investigations released its inquiry into money transfers from top African officials to the U.S. via loopholes in a section of the Patriot Act designed to crack down on illegal terrorism financing. The 330-page report scrutinized moves by top political, economic and business leaders from the notoriously corrupt nations of Angola, Equatorial Guinea, Gabon and Nigeria to determine if they either violated or sought to side-step laws prohibiting money laundering. The report not only found evidence that several powerful...
...significant holes in our protection," Democratic Senator Carl Levin, the chairman of the Senate Homeland Security panel, said in discussing the findings. "A key point here is that even though our banks have become more vigilant and they've created barriers against dirty money, foreign officials still get access to our financial system...