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‘November, 1999’

Where to stay in London

Where to stay in London

Planning a visit to our cousins, the Brits? In London, there are several main areas best to stay in. Most convenient is the West End — known as “Theatreland.” You can move further west and live near one of the big parks or squares — Green Park or Grosvenor.

Here is the majestic Millennium Britannia in Grosvenor Square. Millennium Britannia Hotel

Or you can choose to be in Knightsbridge, Chelsea or Kensington, the trendy areas that are minutes from downtown by tube and have the flavor of an upscale Greenwich Village and Upper West Side. I checked out hotels in each of those neighborhoods.

Cleaning up the murky waters of offshore banking

Cleaning up the murky waters of offshore banking

Global Finance, Nov 1999

The US government is making its boldest move yet to combat international money laundering via offshore bank secrecy havens. Officials who once insisted “capital should flow to wherever the market says to flow” now want to make it more costly for American banks to lend to entities in “bad jurisdictions.”

The American crackdown depends on the passing of new law that require banks to set aside reserves for the loans they have made to high-risk jurisdictions. The strategy, announced in September, is undergoing a 90-day US interagency review. It targets offshore centers that hide the beneficial owners of companies and bank accountants and refuse to cooperate with international law enforcers on the trail of illicit funds.