The Blood Bankers- Tales from the Global Underground Economy

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The Blood Bankers: Tales from the Global Underground Economy- by,James S. Henry, Bill Bradley .
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This book reports on a series of first-hand investigations by Mr.Henry into the darker side of globalization and development. Each chapter stands alone as a separate detective story,with investigations that range from the looting of the Philippines by the Marcos clan to tasteful,corrupt lending practices in Venezuela , Brazil, Nicaragua, and Argentina, to the role that excessive debts played in the downfall of the Shah in Iran and Saddam’s aggressive
behavior in Iraq.

All these tales share important common themes.One key theme is the dramatic growth of the global underground economy since the 1970s,as a kind of unsavory by-product of neoliberalisms long-sought triumph.That triumph brought the undeniable benefits of increased global economic integration and more open markets.But it also made it more difficult for individual nation-states,especially weaker ones,to control the most aggressive rats in the new global rat race.

Another key theme is the rise of a sophisticated global haven banking industry.This weakly regulated haven network now shelters hundreds of billions of dollars in ill-gotten gains that were generated by all sorts of dubious behavior,from bribery and tax evasion to drug dealing and arms trafficking.It has made a profound contribution to Third World underdevelopment.Yet First World authorities have so far been unable or unwilling to attack the expanding list of haven sinkholes for dirty money and control their circumvention of national laws—despite the fact that most of this money resides in First World banks.
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