Word: openness
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...rabbit holes - and it's a growing frustration. All criminals need to launder their illicit earnings, and our lax incorporation requirements make the U.S. a highly attractive domicile. Only two states, Alabama and Alaska, bother to ask the names of the real owners. After incorporation, these anonymous companies can open U.S. bank or brokerage accounts, or obtain credit cards, all of which lend some U.S. legitimacy - the better to evade scrutiny or entrap more victims. In fact, the U.S. just might be the world's biggest washing machine for dirty money. (See the worst business deals...
...ills these shell companies facilitate, it's getting easier and easier to open one. That's because it's big business and states compete at offering ever more secure anonymity along with other benefits. Delaware is the well-known leader. The state recently won the dubious top rank in a new Financial Secrecy Index, for the aggressive secrecy and dollar volume it handles, outdoing Switzerland, the Cayman Islands and Panama...
...these issues. Maybe they truly believe multitasking has been a 15-year wrong turn, and that user interfaces need to revert back to one app at a time now that the apps load instantaneously. Maybe they think closed distribution environments generate more innovation in the long run than open ones. (They have two years of data on their side on that one, thanks to the incredible run the App Store has been on.) I'm not sure I agree with those arguments, but I'd be fascinated to hear more about them...
Several times in recent years, Jobs has published an open letter explaining some increasingly controversial part of Apple's business or his personal life. He wrote notes explaining Apple's environmental policies, revealing their plans for a native SDK for the iPhone and addressing the concerns about his health. Each note led, directly or indirectly, to a major, and positive, shift in the public perception of the issue in question. Maybe it's time for another letter...
...move around very easily. But even if a relatively small portion of that money goes after something - say, mortgages - it can quickly cause a bubble and a crisis. So all this good work we have done in the past few years to make our capital markets more efficient and open has also made them very hazardous, and we haven't done anything yet to address that problem. (See pictures of TIME's Wall Street covers...