Word: multibillion
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Dates: during 1980-1989
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What makes enforcement so difficult is a financial murkiness that has long frustrated tax collectors as they search for dirty money afloat in the world's oceans of legitimate payments. The multibillion-dollar flow of black money, the profits from criminal enterprise, moves through the world's financial institutions as part of a vastly larger quantity of gray money, as bankers call it. This dubious, laundered cash amounts to an estimated $1 trillion or more each year. Often legitimately earned, this money has an endless variety of sources: an Argentine businessman who dodges currency-control laws to get his savings...
...concern is so high, says Republican Senator John Chafee of Rhode Island, that pro-environmental bills now get "a tidal wave" of support in Congress. In elections to the European Parliament, Green parties scored impressive gains. In Hungary protests from local environmentalists led the government to cancel a $ controversial multibillion-dollar hydroelectric-dam project. And in the Soviet Union the budding Green movement showed its muscle by shutting down a new chemical-weapons dismantling facility in the Siberian town of Chapayevsk. "In the future," said Soviet People's Deputy Alexei Yablokov, "the Green movement may be so strong that without...
...point most thoughtful Wall Streeters agreed: the market had reached such dizzying heights that a correction of some sort seemed almost inevitable. Propelled by favorable economic news and a wave of multibillion-dollar takeovers, stocks had soared more than 1,000 points since the 1987 crash. But by last August some Wall Streeters were clearly worried. Noted Donald Stone, a floor specialist for Lasker, Stone & Stern: "I've been on the trading floor for 39 years, and I've never seen the market go up so fast for so long without a major break." Yet the bulls kept on running...
...often in developing nations the U.S. has inadvertently contributed to the environmental problem rather than the solution. In the early 1980s, the U.S. Agency for International Development helped build the Mahaweli Dams in Sri Lanka -- a multibillion-dollar construction typical of AID's past tendency to define development in terms of steel and concrete. The project has flooded forests and destroyed tea plantations. Washington's Environmental Policy Institute cites the dams as one of the 18 most destructive water projects on earth...
...Peru--The leaders of Peru, Colombia and Bolivia conferred in this desert city yesterday, guarded by thousands of police and soldiers, on a common strategy against the multibillion-dollar cocaine trade in their Andean nations...