Word: financeseated
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All Americans, I hope, are ready to heed the words of Winston Churchill: "Victory at all costs, victory in spite of terror, victory however long and hard the road may be; for without victory there is no survival." To accomplish this victory, freedom-loving people throughout the world will have...
But China's shopping frenzy has been fueled by the $65 billion the Chinese government plunks each year on infrastructure projects, and all that spending is starting to burn a hole in state finances. While official figures put the deficit at 2.7% of GDP, some analysts say the real figure...
Accounts at Suntrust and Dime Bancorp surely form just the exposed layer of the terrorists' deeply buried finances. They may have employed a system of brokers called hawala, which means "in trust" in Hindi. It's essentially an IOU system based on mutual trust and little record keeping.
But was it a guess? The short selling, as it's called, of airline and insurance stocks just before the attack has prompted a chilling theory: betting against his victims is Osama bin Laden's latest fund-raising tactic. An international investigation is underway, part of a broader probe to...
Some of bin Laden's money is in mainstream institutions--the Saudis froze his assets after the 1998 U.S. embassy bombings in Africa, though he may have money in Switzerland, England and numerous other countries--but al-Qaeda also makes heavy use of hawala, an informal Islamic banking network that...