(I trust that if I've screwed up a decimal point and it's actually not that tricky, a commenter will gently point that out to me.)
Thursday, June 3, 2010
One big conclusion from the binational money-laundering report released earlier this week is plainly that neither nation is doing much to stop it. Digging a little deeper, the fact that, as with arms traffic, it is mostly an army of "ants" (rather than big financial institutions) moving a few thousand dollars southward here and there makes the border a less than ideal place to staunch the flow of cash. If you figure that $25 billion is transferred to Mexico $10,000 at a time, that's 2.5 million ants out of a total of 250 million people crossing the border each year. With the sheer number of visitors, the odds are not in the authorities' favor.