Night time Owls, a themed open thread, seems at Each day Kos seven days every week
At The Guardian, Tom Burgis writes—What $2 trillion in possible corrupt activity reveals about Kleptopia:
[…] This week we’ve caught a recent glimpse of Kleptopia. The Worldwide Consortium of Investigative Journalists printed the FinCEN information, particulars of greater than 2,000 leaked suspicious exercise studies that banks had filed to the US Treasury. They present that, even when bankers have doubts in regards to the provenance of their shoppers’ cash, the monetary secrecy system goes on serving its major function. That function will not be merely to intensify the focus of wealth, to abet corruption, or to shift the proceeds of crime, vital although all these capabilities are. No, it’s to speed up a venture that had been gathering momentum for the reason that finish of the chilly conflict: the privatisation of energy itself.
Again when it turned clear that the Soviet Union was unravelling, its rulers swiftly squirreled as a lot of the empire’s wealth overseas as they may. Their counterparts in different places the place energy is well transformed into cash—mainly these cursed with giant portions of oil or minerals—did likewise. Globalisation was shifting ahead apace and, like Starbucks, migration and viruses, soiled cash went world. A world kleptocracy started to take form, monetary secrecy its catalyst.