Issue 392 of New Internationalist

Reader-owned global journalism

August 2006

Banks exposed

Asking people about how they make their money is simply not the done thing. Unsurprisingly, bankers nurture this custom. No questions asked means no dirt exposed. That’s why those squeaky-clean Swiss bankers – portrayed as the epitome of banking etiquette because of their ‘discretion’ – have been able to hide the proceeds of theft by Nazi criminals or corrupt officials in Africa for decades. Under this shroud, bankers everywhere have quietly furthered their monopoly in the business of money making, setting up tax-avoidance schemes and shifting capital in quantities beyond the imagination of ordinary people. Few discover how. It’s all too complex.
Or is it? This month, the *NI* explains in straightforward language how banks make money.

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In this issue

  • Together with a whistleblower, *Lucy Komisar* exposes the offshore operations of the world’s biggest bank.
  • Belize is a renowned eco-tourist destination for ‘reef and rainforest’ holidays. Tourism has come at a cost though, including damage to the reef, adding to that from pollution and global warming.
  • Banks - The Facts

    Inside the

  • *Anil Netto* finds out how Malaysian Government money ends up in the pockets of the wealthy.