Word: underworld
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Dates: during 1980-1989
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Thrust among them is a fictional couple, both, fittingly enough, students of social anthropology. Allan Archibald, a moneyed North Shore Wasp, witnesses the murder of the reporter and on a bet undertakes to write a scholarly paper about the Chicago underworld. Irena Giron, a brilliant but unworldly girl from the Polish ghetto "back of the yards," catastrophically encourages Allan to learn more about the style and ferocity of the syndicate. Organized Crimes is part political satire, part informal history, part rumination on the Depression, part love story between the rich boy poor in spirit and the poor girl rich...
...than the stacks of $50s or $100s in which payoffs are often made. By a process known as laundering, criminals deposit money in American or foreign banks, then withdraw it and invest it in construction projects, real estate or corporations. There is a lot to launder. The underworld's haul is estimated at no less than $ 170 billion annually from drug trafficking, prostitution and illegal gambling. Last week a report by the President's Commission on Organized Crime presented recommendations that would make it harder to use legitimate financial institutions to hide profits from crime...
...money." That kind of attitude by the entire financial community could have a powerful effect. Says Judge Irving R. Kaufman of the U.S. Court of Appeals in New York City and the commission's chairman: "Without the ability to freely utilize its ill-gotten gains, the underworld will have been dealt a crippling blow. Money laundering is the lifeblood of organized crime...
...government allowed Mafiosi to resume positions of power in a number of key Sicilian towns. Among the top operators in postwar Sicily was Italian-born American Mobster Vito Genovese, who had fled to Italy in 1937 when New York City Special Prosecutor Thomas E. Dewey charged him with several underworld killings...
Zaccaro's troubles are certainly not all his doing. He is an Italian American who owns real estate in New York's Little Italy; questions about any possible underworld ties are constantly asked, as if such a connection were inevitable. Even the most tenuous bits of information made huge, unfair headlines: a pornography distributor is a tenant in one Zaccaro building; a reputed mobster rents an apartment in a building Zaccaro inherited from his father 13 years ago and immediately sold; an imprisoned swindler once owned a building that Zaccaro managed. TIME learned that U.S. Attorney Rudolph Giuliani asked Zaccaro...