Word: settings
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Dates: during 1980-1989
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Questions about the First Lady's practice initially came up in 1982, and she responded by promising not to accept any more free outfits. But when TIME reported in 1988 that Mrs. Reagan had continued to borrow dresses for six more ! years, press secretary Elaine Crispen explained that she "set her own little rule, and she broke her own little rule...
Under this multilayered plan, the Paris bank would set up a corporation for the customer in Rotterdam, where he would deposit his cash in the bank's local branch. The American would control the newly created Dutch corporation through an Antilles trust company, but his identity as the owner would be protected by the island group's impenetrable secrecy laws. The Caribbean branch would then "lend" the American his own money held in Rotterdam...
While businesses and individuals may conceal their assets for purposes that are completely legal, or dubious at worst, the systems set up for their convenience can be perversely efficient at helping drug barons launder as much as $100 billion a year in U.S. proceeds. "It is hard to understand why we failed for so long to institute adequate controls," says Massachusetts Democrat John Kerry, chairman of the Senate's Subcommittee on Terrorism, Narcotics and International Operations. The state of regulation is "so lackadaisical," says Kerry, "it's almost damnable...
People may think they can change only their own life-styles, but their influence extends far beyond their homes, cars and offices. Americans can put their money where their ideals are by investing in companies that respect Mother Nature. Several mutual funds have been set up to buy shares only in corporations judged to follow the Valdez Principles, a set of guidelines for environmentally sound practices. Most important of all, Americans, like the citizens of all democracies, have the ultimate political power to enforce their will. If they are anxious to have a cleaner, safer, healthier environment for themselves...
Companies that refuse to clean up their acts could be forced to do so, either by increased government regulation or public pressure. In September an alliance of environmental groups, bankers and investment-fund managers, known as the Coalition for Environmentally Responsible Economies, unveiled a set of guidelines for corporate conduct called the Valdez Principles (a name taken from the Exxon Valdez, the tanker responsible for the Alaskan oil spill). Firms that agree to the guidelines must pledge, among other things, to conserve energy, reduce waste and market environmentally safe products...