Word: rated
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Dates: during 1980-1989
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...secrecy laws of tax havens to shuffle assets with alacrity. The very institutions that could do the most to stop money laundering have the least incentive to do so. According to police and launderers, the basic fee for recycling money of dubious origin is 4%, while the rate for drug cash and other hot money...
...pick out the black money from the gray, the tools at hand seem minimal for the task. Says Jaime Chavez, an international banking consultant: "The people who will probably be searching for it have a very limited knowledge of what money movement is all about. How is a third-rate employee of the Justice Department going to dissect the entire financial system to pinpoint the drug money correctly?" During the Reagan years, the budgets of agencies in charge of ctaching financial cheats failed to keep pace with the changing world of money manipulation. Even IRS agents are largely unprepared...
...addition to the purchase price, the city would have to pay the company prime-rate interest if it exercised its buy-back option. After 10 years, it would cost the city approximately $2 million to repurchase the land, Healy said...
Vellucci questioned the desirability of such an arrangement. He asked the company's attorney if he played craps. When the attorney replied that he did not, Vellucci said, "When you roll the dice, you don't get prime rate back when you lose...
...Ways and Means proposal would gain $11.5 million in fiscal 1990 by giving the Department of Public Welfare rate-setting powers, and tightening Medicaid certification. It would generate $5 million in savings through repeal of a 1980 rollback in group insurance rates...