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A Bit of Good News Amidst the Horror . . .


Mon­ey to Burn

COMMENT: With all of the hor­rors unfold­ing around the world, a bit of good news might be wel­come. Amidst all the “pro­gres­sive” and right-wing carp­ing about Oba­ma, a sig­nif­i­cant piece of infor­ma­tion has [under­stand­ably] been over­looked.

The sto­ry below might not appear very sig­nif­i­cant at first glance. Buried well down in the sto­ry, how­ev­er, is a fas­ci­nat­ing detail. The mon­ey laun­der­ing net­work being pur­sued and pros­e­cut­ed by the Jus­tice Depart­ment dates back to 1953!

That is the time peri­od in which the Office of Pol­i­cy Coor­di­na­tion and CIA were busi­ly set­ting up intel­li­gence fronts around the world, the peri­od in which the Bor­mann net­work [1] was begin­ning to chan­nel mon­ey back into Ger­many in order to begin “the Ger­man eco­nom­ic mir­a­cle,” and the peri­od in which orga­nized crime ele­ments in the U.S. (often in con­junc­tion with intel­li­gence agen­cies) were ramp­ing up their drug smug­gling net­works.

The impli­ca­tions of Oba­ma’s Jus­tice Depart­ment attempt­ing to inter­dict this net­work is con­sid­er­able.

“Charges for Four in Swiss-Tax Case” by Thomas Catan and Evan Perez; The Wall Street Jour­nal; 2/24/2011. [2]

EXCERPT: The U.S. charged four for­mer Cred­it Suisse AG bankers Wednes­day with help­ing wealthy U.S. cit­i­zens evade tax­es, open­ing a new front in its mul­ti-year bat­tle with Swiss banks over secret accounts.

The grand jury indict­ments fol­low the recent arrest of a fifth Cred­it Suisse banker in the U.S. and show the U.S. is widen­ing its crack­down of secret bank accounts in Switzer­land and else­where fol­low­ing a bruis­ing bat­tle with UBS AG.

The long-run­ning U.S. probe has so far focused on the Swiss oper­a­tions of major glob­al banks such as HSBC Bank PLC. and Cred­it Suisse, as well as sev­er­al bou­tique Swiss banks. Now the inves­ti­ga­tion could be widen­ing to encom­pass U.S. banks that helped them move the funds around the world, accord­ing to one U.S. offi­cial. . . .The indict­ment also alleges that the con­spir­a­cy dat­ed back as far as 1953 and includ­ed sec­ond-gen­er­a­tion clients that in some cas­es had inher­it­ed the accounts. [Ital­ics are mine–D.E.] . . .