How Delaware kept America safe for corporate secrecy | Reuters

This lengthy article describes how on politician from the State of Delaware has thwarted national and international programs to prevent bad guys from laundering money in the U.S.

Here’s what the good guys tried to do:

  • In 2006, the Financial Action Task Force, or FATF, a group of some three dozen nations formed to combat money laundering and terrorist financing, noted “significant shortcomings” in the United States. The group declared Washington “non-compliant” in four of 40 categories for anti-money-laundering compliance. Among the failures: Authorities could not obtain timely information about a company’s real owners, FATF said.The task force demanded that the United States fix the problem. For Washington, which was pressing allies to crack down on terror financing, it was an embarrassing critique.
  • The same year, the U.S. Government Accountability Office, Congress’s auditing arm, concluded that federal law made it too easy for individuals to anonymously form companies. Delaware was a favored destination for such companies, the report said.
  • As anti-secrecy momentum built, Senator Levin and then-Senator Barack Obama joined forces with Senator Norm Coleman of Minnesota to make it tougher to register new companies without identifying the owners.

Thanks to the continuing efforts (described in the article) of Delaware Secretary of State Jeffrey Bullock none of these initiatives has succeeded.

Source: Special Report: How Delaware kept America safe for corporate secrecy | Reuters

Cry me a river: Louisiana residents without flood insurance face uncertainty

Those residents without flood insurance are eligible for up to $33,000 in FEMA individual disaster assistance funds, although most will likely receive less than that, based on payments following other major disasters.

It’s not clear to me why the government should subsidize home owners who choose not to get flood insurance.  They’re home owners.  What about tax payers who don’t own homes? Why should they subsidize home owners?

I think Jesus said it best.

For everyone who has will be given more, and he will have an abundance. But the one who does not have, even what he has will be taken away from him.”  Matthew 25:29

Source: Louisiana residents without flood insurance face uncertainty

The Difficult Math of American Health Care – The Atlantic

This is a short, cogent analysis of the problems facing Obamacare – problems that were foreseeable by any reasonable person who cared to do the math.

The author concludes that, “there are two things that matter most. One is lowering the real price of health care, which is the only way to reduce the overall losses in the insurance system. The other is distributing the losses as fairly as possible. The simplest way to accomplish both of these goals is a universal, government-sponsored insurance program. The most effective way to control prices, used in every other developed country in the world, is to consolidate buying power. And the fairest way to distribute losses is to do so via a progressive tax system.”

(Sounds pretty Canadian, eh?)

Source: The Difficult Math of American Health Care – The Atlantic

Worker dies after falling into cement truck, paramedics say –

Whew!

A worker has died after falling into a cement truck at a construction company in the city’s east end, paramedics say.

At around 3:45 p.m. emergency crews were called to Lafarge Paving and Construction at 1641 Bearbrook Road in Gloucester, said Ottawa Paramedic Service spokesperson J.P. Trottier.

“The worker was standing at the top of the [cement] truck and fell into the loading funnel,” Trottier said.

“The injuries were obviously fatal injuries and we declared him deceased immediately.”

Ontario’s Ministry of Labour has been called in to investigate. A spokesperson for Lafarge said the company was “cooperating with the local authorities” and that it was “inappropriate” to comment further.

The man’s name and age have not been released.

Source: Worker dies after falling into cement truck, paramedics say – Ottawa – CBC News