Latest Developments, July 27

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Things left unsaid
Reuters reports on the commander of US Africa Command’s assessment of the current situation in Northern Mali and the role he sees for his country’s military within that context:

“[General Carter] Ham repeated U.S. offers to broadly assist regional efforts to try to resolve Mali’s crisis, which has displaced around 420,000 people, according to the U.N. Office for the Coordination of Humanitarian Affairs (OCHA).
But he said putting U.S. troops on the ground could be counterproductive and refused to comment on the possibility of Washington using drones for air strikes similar to those carried out on militant targets in Yemen or Pakistan.”
 
Feeling fine
Reuters also reports that a Mexican investigation into HSBC’s “lax controls against money laundering” has ended with a fine that amounted to 0.16 percent of the bank’s 2011 profits:

“Last week, a [US] Senate panel alleged that HSBC acted as a financier to clients routing funds from the world’s most dangerous places, including Mexico, Iran and Syria, doing regular business in areas tied to drug cartels, terrorist funding and tax cheats.
The Senate report slammed a ‘pervasively polluted’ culture at the bank and said between 2007 and 2008, HSBC’s Mexican operations moved $7 billion into the bank’s U.S. operations.”
 
Fishing deal
Agence France-Presse reports that, after 15 months of negotiations, the EU and Mauritania have signed a new accord on access for European fishing boats to Mauritanian waters:

“The EU will contribute an annual 113 million euros ($138 million) in financing to Mauritania’s fishing industry, up from the 76.5 million it gave under the previous accord, [Mauritanian negotiator Cheikh Ould Baya] said.
That four-year protocol agreement on fishing will expire Tuesday.
…
According to official statistics, the fishing sector represents over 20 percent of budget revenue and employs more than 36,000 people in Mauritania.”
 
Climate complicity
New York University’s Alex Evans explains what he meant when he tweeted earlier this week that Greenpeace was “part of the problem rather than part of the solution”:

“Land grabs aren’t just happening on the ground in poor countries around the world; they’re happening in the sky as well. Consider this: the global carbon market was in 2010 worth $142 billion. That’s $13 billion more than total global aid flows in the same year. A hugely valuable new asset class has been created – literally out of thin air. And low income countries haven’t been given any. Despite the fact that their per capita emissions are a tiny fraction of everyone else’s.
Meanwhile, as richer countries keep pumping out the emissions, the size of the carbon budget that we’ll have to share out once we do finally decide to talk about it, keeps getting a little smaller every day. And, breathtakingly, this approach is described by Greenpeace and others as fair.”
 
Dodging Robin Hood
Bloomberg reports on some of the ways investors are likely to try to avoid France’s new financial transaction tax, which is set to take effect next week and whose revenues will go towards AIDS research:
 
“To escape the tax, many institutional investors will turn to so-called contracts for difference, or CFDs, offered by prime brokers that let them bet on a stock’s gain or loss without owning the shares. Traders have used it successfully to skirt the U.K.’s stamp duty.
…
Those who want to stay invested in France will find a way to avoid paying the tax, said Sam Capital’s Dietmar Schmitt.
‘There will be enough options to avoid the stamp duty in France,’ he said. ‘There are many loopholes. The people who are making the laws don’t understand the business.’ ”
 
Imperial crimes
In the wake of the British government’s admission that Kenyan prisoners were tortured during the Mau Mau rebellion, independent journalist Emanuel Stoakes calls on Britain to acknowledge its “many imperial crimes” or stop pretending to care:
 
“But all that happened in the past, and Britain has progressively behaved in a more civilised manner, many would argue. This may be broadly true, despite the dirty tricks evinced in the 2009 cable. Nonetheless, in responding to the Mau Mau case the UK has an opportunity to demonstrate its growing commitment to human rights as a moral, not just a policy-based, obligation. By showing some rare magnanimity, to echo the sentiments of Bishop Tutu on the subject, the UK can somehow begin to apologise for its past. By contrast, to deploy legal technicalities or to claim that too much time has passed would be to yet again fall back on expedient cruelties to avoid doing what is right.
Yet that latter, ignoble choice appears to be the one that Britain has once again taken: representing the government, Barrister Guy Mansfield QC argued without irony that for the plaintiff’s case to proceed to trial would be ‘contrary to principle and the balance of fairness.’ Astonishing.”
 
Legal hoops
Legal Times reports that US federal lawyers are contending with legal obstacles in attempting to revive the prosecution against former Blackwater employees they believe “wrongly killed” at least a dozen Iraqi civilians in 2007:
 
“A federal judge in December 2009 dismissed the government’s high-profile, controversial manslaughter case, saying that the prosecution was unlawfully built on protected statements that the guards made after the shooting. The prosecution, [trial judge Ricardo] Urbina concluded, was tainted with information that the prosecutors should never have used.
…
The big issue in the case remains this: keeping the prosecution team walled off from any protected, confidential information the Blackwater guards provided after the shooting.
An assistant U.S. attorney, John Crabb Jr., is on the so-called ‘filter team,’ reviewing evidence and witness statements before the trial prosecutors can review the material. Prosecutors and filter team lawyers and investigators recently returned from Iraq. There, prosecutors did not interview witnesses before filter team members spoke with them, Crabb said.”
 
Extracting transparency
European parliamentary advisor Benjamin Fox argues that British Prime Minister David Cameron is not following through on the commitments he made in last year’s Nigerian speech on greater extractive industry transparency:
 
“The perversity of the government’s position is that developing nations would need far less aid if they were allowed to get a decent chunk of revenue from exploiting their own resources. Today, even in a climate where there are no reporting requirements for extractive companies, Africa’s income from its resources is six times the amount it receives in aid.
On political, economic and moral grounds, the case for project-by-project reporting is unarguable. We should be able to see where extractive companies are operating, whether they are paying a fair price and whether governments are selling their people short by giving their country’s mineral wealth away too cheaply.”

Latest Developments, July 26

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ATT plea
Author and former child soldier Ishmael Beah makes the case for a strong Arms Trade Treaty – including controls on ammunition sales – as UN negotiations enter the final stretch:

“The treaty is not a panacea to end all violence, genocide and human rights abuses, but it is a colossal step in the right direction. It is also an important missing piece to end the rampant use of children in war and to significantly reduce violence and the number of lives lost in such conflicts. For the first time, it will set an international standard that governments and civil society can use to hold accountable those who sell weapons irresponsibly. It will also prevent the flow of weapons into lawless areas plagued by conflict by closing the many loopholes immoral businessmen now use to navigate with impunity.
…
As negotiators race this week to finish the text of the treaty, they must include measures to control the flow of ammunition. Weaponry is abundant in Libya, Mali and other conflict zones around the world, but oftentimes ammunition is in short supply.
Some of these weapons, such as AK-47s, are extremely durable. You can bury them, dig them up years later and start using them again. If we didn’t have access to ammunition during the war in Sierra Leone, the AK-47s would have been no more deadly than sticks, and we would have been unable to inflict tremendous violence simply by squeezing a trigger.”

War on drugs redux
The New York Times reports that the US is expanding its drug war into Africa, with “elite” counternarcotics training already underway in Ghana and the same planned for Nigeria and Kenya:

“ ‘We see Africa as the new frontier in terms of counterterrorism and counternarcotics issues,’ said Jeffrey P. Breeden, the chief of the D.E.A.’s Europe, Asia and Africa section. ‘It’s a place that we need to get ahead of — we’re already behind the curve in some ways, and we need to catch up.’
…
In May, William R. Brownfield, the assistant secretary of state for international narcotics and law enforcement, a leading architect of the strategy now on display in Honduras, traveled to Ghana and Liberia to put the finishing touches on a West Africa Cooperative Security Initiative, which will try to replicate across 15 nations the steps taken in battling trafficking groups operating in Central America and Mexico.”

Jordan loan
Reuters reports the IMF has agreed to lend Jordan $2 billion, in part, to offset the costs of the Arab Spring:

“Meanwhile, tourism income and remittances from Jordanian workers abroad have been hit by the global economic slump and the unrest in the region. Government finances have been weakened by higher welfare spending to buy social peace during the Arab Spring, and by the cost of caring for refugees from Syria.
In an effort to cut its deficits, Jordan launched an austerity drive in May, raising fuel and electricity prices, imposing higher taxes on luxury goods and increasing corporate taxes on banks and mining companies.
But the government’s room for maneuver has been limited by the threat of unrest; Islamist and tribal opposition groups have held street protests against price rises, warning the authorities that austerity measures could trigger wider demonstrations and even civil disorder in impoverished areas.”

Bhopal Olympics
The Hindu reports that survivors of the Bhopal disaster are holding their own “Bhopal Special Olympics” in protest against Dow Chemical’s sponsorship of the London Games, which kick off on Friday:

“The Bhopal Olympics, with the theme ‘From East India Company to the Dow Chemical Company’, will be held in a stadium right behind the abandoned Union Carbide factory that continues to leach carcinogenic chemicals in the local groundwater, causing birth defects in children even today.
…
The opening ceremony will draw attention to the many famines caused during the British rule in India, the mass hangings following the ‘first battle for Indian independence in 1857’, the massacre at Jalianwala Bagh in 1919 and last but not the least, to the support extended by the British Prime Minister to the Dow Chemical Company.”

Big bad pharma
The University of London’s Simon Reid-Henry and Deakin University’s Hans Lofgren condemn a “triple-pronged attack” from the West on India’s role as “global pharmacist”:

“It is not only the pharmaceutical industry that needs to be addressed but the continued and ruthless lobbying by western politicians to secure the profitability of their own industries.
We ought to be asking why governments in the rich world still seem happy to checkmate the lives of poor people to save their political skins. And why the pharmaceutical industry sees India as such a threat.”

Human rights rep
Xinhua reports that former Greek foreign minister Stavros Lambrinidis has become the EU’s first-ever special representative for human rights:

“Lambrinidis’ tasks will mainly focus on strengthening EU values in the bloc and around the world.
While some analysts question the tangible effectiveness of such a position, the appointment was welcomed by EU institutions.”

NGO transparency
The Irish Examiner reports that Ireland’s government is considering extending the scope of freedom of information laws to cover non-public bodies that receive state funding, “such as sporting groups and charities”:

“The [government] spokesman said no set criteria had been agreed upon as to which non-public bodies would fall under the extended reach of the FOI laws.
However, it could include the level of funding provided to a body, the percentage of that funding within the body’s overall budget, whether the grants are provided annually as opposed to once-off and the nature of the functions provided by the body and the extent to which it provides a service to the public.”

Constructive vandalism
Oxfam’s Kate Raworth makes the case for rewriting economics into something less focused on GDP growth and monetized resource flows:

“So here’s a guerrilla campaign to make it happen. Anyone can do it because all you need is a pencil. Here’s the plan (umm, I have to say at this point, this is not Oxfam Policy…). Sneak into the bookshops, the libraries and classrooms, and into the office of every economics professor you know. Get out the macroeconomic textbooks and find that diagram. Take your pencil. Now draw in the environment. Draw in the unpaid care economy. Draw in social inequality.
With these few strokes, we could stick a great big spanner in the wheel of mainstream economic thinking. We’d save the next generation of economics students from having the wrong model of the world stuck in the back of their heads. And that would help save us all from another era of economic policymakers who unknowingly have the wrong model of the economy shaping their decisions.”

Latest Developments, July 25

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RIP Atta Mills
The BBC offers an obituary of Ghanaian President John Atta Mills who died suddenly and has been replaced by his vice-president, John Mahama:

“Mr Atta Mills described himself as a social democrat who leaned broadly on independence leader Kwame Nkrumah’s idea of social welfare.
But he pitched a more inclusive and less polarising political platform than both Mr Nkrumah and [former president Jerry] Rawlings.
Once in power he started an austerity programme and presided over the country’s first commercial oil production, promising that – unlike some African countries – his government would spend the newfound oil revenue responsibly.”

African justice
Agence France-Presse reports that Senegal and the African Union are proposing the establishment of a special court in Senegal to try former Chadian president Hissène Habré:

“After four days of talks in Dakar, a draft agreement was drawn up between the AU and Senegalese government on the ‘creation of extraordinary African chambers within the Senegalese court structure,’ said Amadou Baal, director of the justice minister’s office.
The chambers will have four sections to handle instruction, investigations, trials, and appeals, and will consist of Senegalese and other African judges.
Baal said the proposal was still subject to final approval.
Senegal pledged Friday to put Habre on trial, after the Hague-based International Court of Justice ruled that it must submit his case to its competent authorities for prosecution if it does not extradite him.”

Unfriendly skies
The Washington Post reports on UN concerns that Somalia’s skies “have become so congested with drones” that public safety is at risk:

“In a recently completed report, U.N. officials describe several narrowly averted disasters in which drones crashed into a refu­gee camp, flew dangerously close to a fuel dump and almost collided with a large passenger plane over Mogadishu, the capital.
Although U.N. investigators did not directly pin the blame for the mishaps on the United States, the report noted that at least two of the unmanned aircraft appeared to be U.S.-manufactured and suggested that Washington had been less than forthcoming about its drone operations in Somalia.”

Unsatisfactory draft
Reuters reports that there is much unhappiness over the first draft of the Arms Trade Treaty that is meant to be finalized by week’s end, with one critic saying it currently has “more holes than a leaky bucket”:

“[Oxfam’s Anna] Macdonald listed several criticisms. He said the range of weapons in the draft treaty needed to be expanded, particularly to include ammunition; the rules governing risk assessments that countries must do before authorizing an arms sale needed to be tightened; and the whole treaty needed to be broadened to cover the entire global arms trade and not just illicit transactions.”

Strings attached
The Guardian reports that activists in the US and India are criticizing conditions attached to American AIDS funding, which they say marginalize sex workers:

“International organisations that receive funds through the President’s emergency plan for Aids relief (Pepfar) must sign an “anti-prostitution pledge” prohibiting them from doing anything that could be perceived as supporting sex work. Activists say this has weakened the already underfunded response to the HIV epidemic among some of the most vulnerable communities.
…
US organisations that receive Pepfar money are no longer bound by the pledge, after successfully taking the government to court on the basis that the conditions attached to funding violate first amendment rights. But organisations outside the US are still required to sign it.”

Ogoniland pollution
The Financial Times reports that communities in Nigeria’s delta region are saying the government and foreign oil companies have done little since a UN report called last year for “the world’s most wide-ranging and long-term oil clean-up exercise ever undertaken”:

“Earlier this year, Shell employed a local contractor to clean up the site of the 1970 well blowout [at Boobanade]. It says the work was inspected by the environmental regulator and signed off as satisfactory. But on a visit to the site in June, patches of oil residue could be seen in the soil. In one spot, fresh crude was bubbling up. [Local resident Fyneface] Farah says the remediation work was not satisfactory and that independent experts should be called to verify what was done. ‘We still cannot plant anything there and the water table is contaminated,’ Mr Farah says. ‘There is still not enough action – that is the truth.’ ”

East African energy
Think Africa Press asks who will benefit from East Africa’s apparently imminent oil and gas bonanza:

“Much of the coastal offshore drilling in Tanzania, Kenya and Mozambique is occurring in areas suffering from poor soil, low water tables and geographical isolation, and in regions in which many residents struggle to find employment. Whether discoveries of valuable natural resources will help or hinder these communities remains to be seen.
Indeed, as a consultant for USAID and the UN Development Programme explained, there are no baseline studies of the communities along the Tanzanian and Kenyan coasts, and if there has been any community consultation, it has gone undocumented.”

UN as enabler
Human Rights Watch asks how the UN can “stop itself from supporting” those who violate human rights:

“For many years, sometimes unknowingly and sometimes it seems because it chose to look the other way, the United Nations has provided assistance, money or logistical support to armies or police forces involved in abuses and serious human rights violations.
…
For the world organization to demonstrate it’s serious about ending support to abusive forces, it should lead by example and adopt stringent standards for itself. The organization needs to aggressively implement its ‘due diligence’ policy, properly fund it, and impose it where it counts – on the ground – even if it ruffles some feathers. The U.N. reputation is at stake, as much as the very mission its founders envisioned when they engraved in its charter to ‘reaffirm faith in fundamental human rights.’ ”

Latest Developments, July 24

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Bad news on inequality
The Tax Justice Network has released a pair of reports on the extent and the impacts of the global offshore banking system, which together argue that the “at least $21 trillion hidden in secret tax havens” mean economic inequality is actually much worse than generally thought:

“At its simplest, our argument is that if an asset is hidden in an offshore bank account, or an offshore trust or company, and the ultimate owner or beneficiary of the income or capital cannot be identified, then this asset and the income it produces will not be counted in the inequality statistics. Almost all these hidden assets are owned by the world’s wealthiest individuals. So it follows that the inequality statistics, particularly at the top end of the scale, underestimate the scale of the problem.”

AND

“For our focus subgroup of 139 mostly low-middle income countries, traditional data shows aggregate external debts of $4.1tn at the end of 2010. But take their foreign reserves and unrecorded offshore private wealth into account, and the picture reverses: they had aggregate net debts of minus US$10.1-13.1tn. In other words, these countries are big net creditors, not debtors. Unfortunately, their assets are held by a few wealthy individuals, while their debts are shouldered by their ordinary people through their governments.”

Strings attached
The International Monetary Fund has announced it has approved a $156 million loan for Malawi, as a result of new president Joyce Banda’s policies, even though they may be exacerbating the country’s growing food crisis:

“Following the Board’s discussion of Malawi, Naoyuki Shinohara, Deputy Managing Director and Acting Chair, issued the following statement:
‘Malawi’s new administration moved swiftly to devalue the kwacha, adopt a flexible exchange rate regime and liberalize current account transactions to address the country’s chronic balance of payment problems and improve the outlook for poverty reduction and growth.’
…
‘Tight control over non-priority spending will be needed to ensure that expenditures are aligned with the government’s priorities, including scaled up spending on social protection programs to mitigate the impact of adjustment measures on the poor.’ ”

Regulatory capture
The New York Times discusses a new book by Neil Barofsky, “the man whose job it was to police the $700 billion Troubled Asset Relief Program”:

“ ‘There has to be wide-scale acknowledgment that regulatory capture exists, dominates our system and needs to be eradicated,’ Mr. Barofsky said in the interview.
…
‘We need to re-educate our regulators that it’s O.K. to be adversarial, that it’s not going to hurt your career advancement to be more skeptical and more challenging,’ he said. ‘It’s implicit in so much of the regulatory structure that if you don’t make too many waves there will be a job for you elsewhere. So we have to limit those job opportunities and develop a more professional path for regulators as a career. That way, they won’t always have that siren call of Wall Street.’
Mr. Barofsky’s assessment of his former regulatory brethren is crucial for taxpayers to understand, because Congress’s financial reform act — the Dodd-Frank legislation — left so much of the heavy lifting to the weak-kneed.”

Expanding footprint
MENAFN reports that Barrick Gold subsidiary African Barrick Gold is growing its operations beyond Tanzania, where controversies involving the company’s mines have included alleged toxic spills and fatal shootings, into Kenya with newly acquired exploration assets:

“Aviva’s Kenyan assets are located in the southwest corner of Kenya, about 300 kilometers northwest of Nairobi, near the border of Uganda and on the shores of Lake Victoria, it said.
‘This acquisition represents the first step in expanding our footprint outside of Tanzania and building our future growth pipeline,’ said Chief Executive Greg Hawkins. ‘The acquisition is an attractive entry into an under explored and highly prospective land package in a country bordering our existing operations.’ ”

Democratic calculus
Responding to a Human Rights Watch report condemning the current state of human rights in Venezuela, the Overseas Development Institute’s Jonathan Glennie counters that in some instances, freedom of the press “can actually mitigate against progress for the majority poor”:

“Take the Murdoch empire, multiply it by about a thousand and you are somewhere close to how powerful the rightwing media is in Latin America. In [the Center for Economic and Policy Research’s Mark] Weisbrot’s words the ‘unelected owners [of major media outlets] and their allies use their control of information to advance the interests of the wealth and power that used to rule the country’.
It is proven beyond doubt that the rightwing media was an active and key player in the 2002 coup that briefly removed [Venezuelan President Hugo] Chávez from power (see the brilliant documentary The revolution will not be televised). In such a context, reducing the rightwing media’s room for manoeuvre may be a crucial element in any plan to radically transform a country. (In the run-up to elections in October, Chavez has accused Venezuela’s privately owned media companies of bias towards the opposition and of ignoring his government’s achievements.) Where single-issue civil rights organisations see media crackdowns, what may be happening is an elected and popular government trying to implement the will of the people in the face of powerful business interests prepared to undermine democracy if need be.”

Fatal laws
Reuters reports that Mexican President Felipe Calderon has called America’s gun laws “mistaken” and is urging the US government to change them: 

“In comments posted on his Twitter account on Saturday, Calderon offered his condolences to the United States after a gunman went on the rampage with an assault rifle at a midnight premier of the new Batman film in Aurora, Colorado.
But Mexico’s president, who has repeatedly called on Washington to tighten gun controls to stop weapons flowing from the United States into the hands of Mexican drug cartels, said U.S. weapons policy needed a rethink after the killings.”

Fostering homophobia
The Guardian reports that US-based thinktank Political Research Associates is accusing American evangelical groups of attempting a “cultural colonisation” of Africa by opening offices across the continent to promote attacks on abortion and homosexuality.

“Entitled Colonising African Values: How the US Christian Right is Transforming Sexual Politics in Africa, the study analysed data from seven African countries and employed researchers for several months in Kenya, Malawi, Zambia and Zimbabwe.
It identified three organisations it believes are aggressively targeting the continent: [televangelist Pat Robertson’s American Center for Law and Justice], the Catholic group Human Life International and Family Watch International, led by the Mormon activist Sharon Slater.
Each of these ‘frame their agendas as authentically African, in an effort to brand human rights advocacy as a new colonialism bent on destroying cultural traditions and values’, the report says.”

Latest Developments, July 20

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Carbon glut
Reuters reports that despite plummeting carbon prices, the UN still believes its carbon offset market will play a key role in reducing greenhouse gas emissions:

“U.N-backed carbon credits, called certified emissions reductions (CERs), have plunged around 70 percent over the past 12 months as a massive supply of credits has built up because of a drop in demand due to a slowing economy. The benchmark CER contract hit record lows below 3 euros this week.
Low carbon prices have stalled new investment in low-carbon technology, raising doubt about whether there is any point to the 1997 Kyoto Protocol and its market-based mechanisms, notably the [Clean Development Mechanism].”

Sustainable friendship
The New York Times reports that, at a meeting where China promised $20 billion in loans to Africa, South African President Jacob Zuma described his continent’s relationship with China as preferable to the one with Europe, but problematic nevertheless:

“ ‘Africa’s commitment to China’s development has been demonstrated by supply of raw materials, other products and technology transfer. This trade pattern is unsustainable in the long term. Africa’s past economic experience with Europe dictates a need to be cautious when entering into partnerships with other economies,’ [said Zuma].”

Reconstruction corruption
iWatch News reports that the Special Inspector General for Iraq Reconstruction has issued his penultimate report in which he estimates $6 billion to $8 billion worth of US funds were lost:

“SIGIR’s investigation also uncovered instances of bid-rigging and bribe-taking by State and Pentagon officials.
…
Many of the challenges described in the Iraq report mirror those depicted in similar reports by its cousin, the office of the Special Inspector General for Afghanistan Reconstruction. In a May report to Congress, for example, that office concluded that ‘corruption remains a major threat to the reconstruction effort’ and said contractors were taking advantage of lax oversight in Afghanistan.”

Owning genes
Bloomberg reports that a US court is set to consider whether or not human genes can become the property of corporations:

“Madeleine Ball, a Harvard University geneticist, said entire regions of the human genome are at risk of becoming inaccessible to anyone who can’t afford to pay for patent licenses, stifling the information-sharing that’s vital to scientific progress. For personalized medicine companies like Optimal Medicine Ltd., the patents are about protecting billions of dollars invested in years of research.
…
Aspects of seven [Myriad Genetics Inc.] patents were being challenged by the American Society of Human Genetics, the American Medical Association and other scientific groups. They argue that isolated DNA is the same thing as what is in the human body. The Supreme Court in March said that patents cannot be obtained on things that prevent others from the use of a natural law.”

Food aid, cash cow
The Guardian reports on the “special interests” that are blocking reform of America’s overseas food assistance system:

“Under US law, the majority of American food aid must be shipped on US-flagged vessels, and the shipping industry is another aggressive defender of the system. A 2007 report by the US government accountability office (GAO) found that nearly two-thirds of the US food aid budget was spent on transportation and other non-food costs.
…
Together, agribusiness, shipping companies and NGOs form what some have called the ‘iron triangle’ of special interests, blocking reform of the controversial in-kind system.”

Cartel clients
The Daily Beast reports on HSBC’s “complicity” in laundering Mexican drug money and the obstacles to an international crackdown:

“The understated element of the war on organized crime in Mexico—and in fact, around the world—has been the fight against the money launderers: the companies and banks that allow drug cartels to flood their illicit cash back into the global economy.
…
HSBC executives admitted that a large portion of some $7 billion transferred by their Mexican subsidiaries into the bank’s U.S. operation likely belonged to drug cartels.”

Suicide drone
Gizmodo reports that the British military has become the first customer for the “suicidal bird of prey” known as the Fire Shadow:

“According to missile systems manufacturer MBDA, this bird of death is a high precision, low cost flying missile that can be launched by a soldier from the ground, just like any other small unmanned air vehicle. After the launch, the Fire Shadow can hover over a large area for up to six hours or 62 miles (100 kilometers). Once the operator points out a target, the Fire Shadow will fall on it destroying it on contact.”

Classified Gitmo
ProPublica reports that the US government is being challenged over its decision to automatically classify everything said by Guantanamo detainees accused of involvement in 9/11, even accounts of their own torture.

“The ‘presumptive classification’ order extends to both detainees’ testimony and their discussions with their lawyers. In other words, anything said by a detainee, whether in court or to their counsel, will first need censors’ stamp of approval before it can become public.”

Managing FDI
The Overseas Development Institute’s Jonathan Glennie welcomes a new UN report that ranks countries according to the development impact of their foreign direct investment inflows:

“Along with this matrix – and possibly more significantly – Unctad is promoting a new investment policy framework for sustainable development (IPFSD) focused on balancing the rights of investors with the need for the state to take an active role to ensure investments benefit society. Suggested indicators for analysing the contribution made by particular investments include economic value added (such as capital formation and fiscal revenues), obviously, but also job creation and sustainable development (such as families lifted out of poverty, greenhouse gas emissions, technology dissemination).”

Bad society
Robert Skidelsky, a member of the British House of Lords, argues there are both moral and practical reasons to object to inequality at its current levels:

“There is a strange, though little-noticed, consequence of the failure to distinguish value from price: the only way offered to most people to boost their incomes is through economic growth. In poor countries, this is reasonable; there is not enough wealth to spread round. But, in developed countries, concentration on economic growth is an extraordinarily inefficient way to increase general prosperity, because it means that an economy must grow by, say, 3% to raise the earnings of the majority by, say, 1%.
Nor is it by any means certain that the human capital of the majority can be increased faster than that of the minority, who capture all of the educational advantages flowing from superior wealth, family conditions, and connections. Redistribution in these circumstances is a more secure way to achieve a broad base of consumption, which is itself a guarantee of economic stability.”