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Otto Polyakov
Otto Polyakov

Follow The Money - E...

In its report, For Better or For Profit: How the Bail Bonding Industry Stands in the Way of Fair and Effective Pretrial Justice, the Justice Policy Institute uses a figure of $14 billion in bail bonds written every year, and cites its source as an email from Dennis Bartlett from the American Bail Coalition (which lobbies on behalf of the bail bondsman industry) in footnote 2 of the Executive Summary of the report. Since defendants and their family members typically pay 10% to commercial bail bond agencies as a nonrefundable fee, this comes out to $1.4 billion actually paid by the families. To learn more about the high costs of money bail in the U.S., see our report Detaining the Poor: How money bail perpetuates an endless cycle of poverty and jail time.

Follow the Money - E...

Bernadette Rabuy is the Senior Policy Analyst at the Prison Policy Initiative. Bernadette produced the first comprehensive national report on the video visitation industry, Screening Out Family Time: The for-profit video visitation industry in prisons and jails, finding that 74% of local jails that adopt video visitation eliminate traditional in-person visits. Her research has played a key role in protecting in-person family visits in jails in Portland, Oregon and the state of Texas. In her other work with the Prison Policy Initiative, Bernadette has worked to empower the criminal justice reform movement with key but missing data through the annual Mass Incarceration: The Whole Pie reports and, most recently, Detaining the Poor: How money bail perpetuates an endless cycle of poverty and jail time.

A few years ago, the great NPR news analyst Dan Schorr asked me to find the phrase in Woodward and Carl Bernstein's book All the President's Men. Being a good librarian, I used the index to check all the references to Deep Throat; I didn't find the phrase. Not wanting to disappoint Dan, I looked through the whole book, page by page. Phrase not found. Then I did a newspaper database search for articles that had "follow the money" near "all the president's men," but all the results were about the movie version, not the book.

The cash that needed following was more than $200,000 paid to Watergate plotters G. Gordon Liddy and Howard Hunt, and the five burglars. The hush money was delivered by Tony Ulasewicz, a rumpled, fedora-wearing former New York police officer who fit the image of the "president's bagman" to a T.

If you owe more money than the payment you were going to receive, then TOP will send the entire amount to the other government agency. If you owe less, TOP will send the agency the amount you owed, and then send you the remaining balance.

FinCEN exercises regulatory functions primarily under the Currency and Financial Transactions Reporting Act of 1970, as amended by Title III of the USA PATRIOT Act of 2001 and other legislation, which legislative framework is commonly referred to as the "Bank Secrecy Act" (BSA). The BSA is the nation's first and most comprehensive Federal anti-money laundering and counter-terrorism financing (AML/CFT) statute. In brief, the BSA authorizes the Secretary of the Treasury to issue regulations requiring banks and other financial institutions to take a number of precautions against financial crime, including the establishment of AML programs and the filing of reports that have been determined to have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings, and certain intelligence and counter-terrorism matters. The Secretary of the Treasury has delegated to the Director of FinCEN the authority to implement, administer, and enforce compliance with the BSA and associated regulations.

The basic concept underlying FinCEN's core activities is "follow the money." The primary motive of criminals is financial gain, and they leave financial trails as they try to launder the proceeds of crimes or attempt to spend their ill-gotten profits. FinCEN partners with law enforcement at all levels of government and supports the nation's foreign policy and national security objectives. Law enforcement agencies successfully use similar techniques, including searching information collected by FinCEN from the financial industry, to investigate and hold accountable a broad range of criminals, including perpetrators of fraud, tax evaders, and narcotics traffickers. More recently, the techniques used to follow money trails also have been applied to investigating and disrupting terrorist groups, which often depend on financial and other support networks.

Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:

You cannot convert H or HH bonds. But you may want to convert already matured E, EE, or I bonds to accumulate money in your TreasuryDirect account and use that money to buy new savings bonds or other Treasury securities.

The money for them goes into a Certificate of Indebtedness (C of I). A C of I is a no-interest fund in your account that you can draw on to pay for new bonds or other Treasury securities or to send money by direct deposit to your bank account.

If a savings bond in your Conversion Linked Account Gift Box has already matured or matures before you give it to the other person, we pay for it and mark it as "matured gift proceeds." You can then have us put the money in the other person's Treasury Direct account.

3. Enter an email address or Canadian mobile phone number. Next, select a deposit account. Anytime anyone sends you money using Interac e-Transfer to this email address or mobile phone number, it will automatically be deposited into the selected account.

EconPapers FAQ Archive maintainers FAQ Cookies at EconPapers Format for printing The RePEc blog The RePEc plagiarism page Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity ShockDean Karlan (Obfuscate( '', 'dean.karlan' )), Adam Osman and Jonathan Zinman (Obfuscate( '', 'jzinman' ))Working Papers from Economic Growth Center, Yale UniversityAbstract:Identifying the impacts of liquidity shocks on spending decisions is difficult methodologically but important for theory, practice, and policy. Using seven different methods on microenterprise loan applicants, we find striking results. Borrowers report uses of loan proceeds strategically, and more generally their reporting depends on elicitation method. Borrowers also interpret loan use questions differently than the key counterfactual: spending that would not have occurred sans loan. We identify the counterfactual using random assignment of loan approvals and short-run follow-up elicitation of major household and business cash outflows, and estimate that about 100% of loan-financed spending is on business inventory.Keywords: loan use; consumption; investment; liquidity constraint; liquidity shock; fungibility; microcredit; microenterprise (search for similar items in EconPapers)JEL-codes: D12 D22 D92 G21 O12 O16 (search for similar items in EconPapers)Pages: 24 pagesDate: 2013-11New Economics Papers: this item is included in nep-mfdReferences: View references in EconPapers View complete reference list from CitEc Citations: View citations in EconPapers (6) Track citations by RSS feedDownloads: (external link) _pdf/cdp1034.pdf (application/pdf)Related works:Working Paper: Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock (2013) Working Paper: Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock (2013) Working Paper: Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Stock (2013) Working Paper: Follow the Money: Methods for Identifying Consumption and Investment Responses to a Liquidity Shock (2013) This item may be available elsewhere in EconPapers: Search for items with the same title.Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/TextPersistent link: :egc:wpaper:1034Access Statistics for this paperMore papers in Working Papers from Economic Growth Center, Yale University Contact information at EDIRC.Bibliographic data for series maintained by Benjamin King (Obfuscate( '', 'benjamin.king' ) this e-mail address is bad, please contact Obfuscate( '', 'repec' )). var addthis_config = "data_track_clickback":true; var addthis_share = url:" :egc:wpaper:1034"Share This site is part of RePEc and all the data displayed here is part of the RePEc data set. Is your work missing from RePEc? Here is how to contribute. Questions or problems? Check the EconPapers FAQ or send mail to Obfuscate( '', 'econpapers' ). EconPapers is hosted by the Örebro University School of Business.

The problem to be resolved is as follows. The owner of money has to buy his commodities at their value, and to sell them at their value, and nevertheless at the end of the process to realize a surplus. This is the end and aim of his existence as a capitalist, and if he does not accomplish it, he is as a capitalist a mere failure. So that his development from the mere money owner to the full-blown capitalist has to take place at once within the sphere of circulation and without it: that is, he must follow the law of the exchange of commodities, and nevertheless must act in apparent contradiction to that law. This problem cannot be solved merely by means of the money which he owns, the value of which is, so to say, petrified. As Ricardo says, 'In the form of money, capital has no profit'. As money, it can only be hoarded.

Neither can the surplus originate in the mere re-sale of the commodity, 'which does no more than transform the article from its bodily form back into its money form'. The only alternative left is the change should originate in the use-value of the article bought with the money in the first instance and on which the capitalist has to operate. 041b061a72


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