[Previous entry: "Home truths for European allies"] [Next entry: "Has 'War' become a leading brand for United States?"]

12/06/2005:

"Where they hide the cash"

12/05/05 "The Guardian" -- -- Five trillion dollars has been corruptly removed from the world's poorest countries and lodged permanently in the world's richest countries. That is the "conservative estimate" not of a leftwing anti-globalisation activist but of a leading American businessman and enthusiast for capitalism who has just completed a major study of how multinational corporations, wealthy individuals and unscrupulous governments are using the world's banking systems in ways that spread poverty.

When aid or debt relief are discussed, attention often focuses on corrupt leaders and governments in Africa and other parts of the developing world. But they are amateurs compared with the rich companies and individuals who use the world's tax havens and banking systems to hide sums of money that could address almost all of the continent's financial needs.
informationclearinghouse.info