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Officials say "countless investigations" end with the outlaws disappearing down these perfectly legal 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...
...million new corporations formed in the U.S. every year are legitimate businesses, taking advantage of these vehicles' ability to fence off liability so that entrepreneurs are not risking their entire financial viability in any one venture. In practice there can be multiple incorporations in a single deal. But critics say that the original intent of incorporation has been corrupted in the last 20 years as the conveniences offered by offshore tax havens - demand turbocharged by a boom in financial engineering - has degenerated into a race to the bottom to sell secrecy. (See 25 people to blame for the financial crisis...
...France unfairly fingered a U.S. company in order to protect the Concorde's legacy? In late January, a documentary on the French network Canal+ argued that point. In the film, several eyewitnesses say they remembered seeing flames coming from the plane on the runway before it hit Continental's stray metal piece, suggesting that something was wrong with the Concorde itself. That is a key point in the defense strategy pursued by Continental's lawyers, who say they have 28 witnesses who can provide similar testimony. The lawyers told the Parisien newspaper last Friday that they intend...
Leaving aside the airlines' reputations, however, there is another question at stake in the Concorde trial: Should companies even face criminal charges after their planes crash? Several U.S. safety officials say prosecuting and jailing airline employees could make them too afraid to report maintenance or design flaws, for fear that they might be blamed later for accidents. "If airlines were protected from criminal prosecution, those fears would dissipate," says Michael Barr, an aviation-accident specialist and instructor at the University of Southern California. "You have a whole lot of people who believe that accidents are just that - accidents," he says...
...Ahmadinejad become enough of a liability for Khamenei and his allies to move against him? The President faces a difficult term ahead, even without the unresolved question of his legitimacy. Critics of his government say it squandered billions during his first term on expensive social programs intended to buy political support. Now faced with increasing sanctions and lower oil revenues, the government is about to launch a new program to wean the economy from unsustainable subsidies, especially on energy - a move that is almost certainly going to be unpopular...