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What is money laundering?  Money laundering is the process whereby a person or company will transfer money obtained through illegal means, such as depositing the money in another account under a completely different name or entity and then withdrawing the funds to make it seem as if it came from another source.

Here’s an example.  A well-known congressman “took part in an alleged scheme to bypass election code rules by hiding the corporate origins of money that ended up in the hands of Republican candidates in Texas.  The alleged laundering scheme involved sending corporate donations from Texas to the Republican National Committee headquarters in Washington D.C., and the RNC then sending an equal amount of money back to Texas for use in campaigning.”

Most money laundering schemes are conducted by “criminals who are trying to disguise the origins of money obtained through illegal activities so it looks like it was obtained from legal sources.  They can’t use the money because it would connect them to the criminal activity, and law-enforcement officials would seize it.”

There are other reasons why money laundering is utilized, especially in third-world countries where the government has enormous debt.  Here is one example cited in Africa:

“Money laundering schemes in an underdeveloped economy may include physical movement of cash or property.  For example, the gem tanzanite is physically transferred from its source to a destination where it is processed (cut) or sold.  In the case of currency transfers, the informal exchange system known as the hawala system is often used.  In the sending country, the sender pays in local currency into the informal processing organisation and the money is credited or paid in cash to the recipient in a foreign country, without physical cash necessarily being transferred.

Tanzania experienced large-scale money laundering in the early 1990s when foreign banks were allowed to open branches in Tanzania.  The amount of money deposited into the bank is estimated at $285 million - deposits from government departments and construction projects.  Huge amounts of money deposited were siphoned off outside the country illegally and within a short time the bank was declared insolvent.”

Who participates in money laundering?  Local and foreign organised crime groups, businessmen, politicians, hotels, government officials, and casinos.

How is money laundering caused by debt?  Take the case of an American citizen who went to Tanzania and purchased eight plantations under a debt-swapping scheme, which is “acquiring unpaid debt at a discounted rate” and paid by a prospective buyer.  The local bank gave him money, in advance, to develop the farms.  He didn’t do anything and was later deemed “persona non grata”.  The money was never traced and subsequently it was determined that he invested the money overseas to utilize at a later date.

Private School Cheaper Than You Think

While public schools are subsidized by the state, private schools receive their funding through tuition, donations, private grants, and fund raising events.  Thus, private schools are cheaper than you think.

According to the Cato Institute, “Statistics from the Education Department show that the average private elementary school tuition in America is less than $2,500.  The average tuition for all private schools, elementary and secondary, is $3,116 or less than half of the cost per pupil in the average public school, $6,857.”

Although there are private schools that cost more than usual, this is restricted to the most well-known schools.  For example, in one state, a highly acclaimed private school can cost as much as $13,000 a year - but this is the exception.  Private schools around the country may average between $2,300 and $3,500.

In fact, most families can send their kids to private school for about $2,000 a year or less.  The Cato Institute’s research reveals that, “The average private school cost is significantly less than the amount spent for each student in public schools.  A voucher or tax credit worth the same amount spent per student in public schools would easily give parents access to the bulk of private schools available in their communities.  With more parents able to afford private schools, new schools would open to accommodate the increased number of students.”

One example is in the state of Florida, where there have been over 350 new private schools built to accommodate students utilizing several programs offering programs to make it even more affordable to attend.  In Milwaukee and other states, there has been an influx of private donations to offset the cost of attending private schools.

Surveys have indicated that in those states that offer programs allowing for school choice, private schools offer an alternative to the public school system which, as we know, has not produced significant test scores over the last several years.

This, above all, has been the catalyst that has driven more students to private schools than ever before.  The general consensus is that most public schools which are subsidized by Federal and State governments have not produced the kind of results that were anticipated through the “No Child Left Behind” Program.

Therefore, families do have a choice to send their children to private schools using vouchers or other programs that would afford their children a quality education.  Since this is the foundation upon which families choose the best available school in their state, private schools offer a higher quality of education that is both affordable and accessible.

Are we in a recession?  Considering the news today that Lehman Brothers has just filed for bankruptcy and Bank of America is buying Merrill Lynch, combined with the bail-out of Fannie Mae and Freddie Mac by the government, one can say with confidence we are indeed in a recession.

Not too long ago, a financial expert predicted that only two major banks would be left after the housing crisis and the economy returned to normal.  It was a prophetic prediction.

What does this recession mean for you and me?  It means we have to tighten our bootstraps (if we haven’t already) and begin planning for any eventuality.

While economists comment that the last two recessions lasted for eight months respectively, it is no comfort to learn that the housing crisis has not yet reached bottom, fuel prices are continuing to rise in light of recent events, and more and more companies are closing down leaving thousands of people unemployed.

Wages have decreased, more families are in debt than ever before, health-care costs continue to rise, and our grocery bills have eaten into our household budgets significantly.

In order to alleviate the burden of all these factors, the best advice economists can offer is to take a fiscally conservative stance on our spending habits.  Here are some additional suggestions:

* Stick to a monthly budget
* Refrain from buying expensive items on credit
* Set up a fund for emergencies (at least two months’ income)
* Try to add the maximum amount allowed to your pension/retirement fund
* Stay healthy with a proper diet and exercise program (This is a preventative measure that will reduce the cost of prescription drugs and other health-related costs)
* Pay down debts
* Purchase with cash
* Buy groceries in bulk utilizing coupons whenever you can
* If you have teenage children who are receiving an allowance, determine if they can apply for a part-time job after school
* Increase your deductibles on car and homeowner’s insurance
* Keep your automobile well-maintained
* Winterize your home and use energy-efficient appliances and light bulbs
* Walk whenever possible instead of driving to a local store

Anything you can do to reduce the amount of expenditures can only help you through this economic downturn.  In the meantime, stay calm, focus on your budget, and save as much as you can.

We moved to the suburbs recently. My husband is frequently away on business, and I’m finding that I get a little nervous when I’m at home alone with the kids at night. What steps do we need to take to make sure our home is completely safe and secure so that I can sleep easily?

answer:
Proper security measures could go a long way toward giving you a better night’s sleep. Take an inventory of your new home to be sure that all doors, including storm doors and patio sliders are fitted with some type of locking device. Consider installing a peephole and/or a chain lock on all the exterior doors so you can determine who visitors are. Check that all windows have functioning locks. And make it a habit to lock the windows as you’re closing them.

For the outside of your home, consider installing motion-sensor lights near all doors. It will discourage intruders and make it safer for you to come and go in the dark as well. Check that shrubs around the house are not so overgrown that they provide cover for possible intruders. If shrubs do conceal windows or block the view of your doors from neighbors and from the street, consider cutting them back or removing and replacing with dwarf varieties that stay smaller. Finally, call the non-emergency number at your local police department and inquire if they can help you. Many departments have trained officers who will visit your home and help evaluate the security.

I’m about to embark on a new adventure for me dressing or decorating the windows in our home. I haven’t got a clue where to begin. Can you give me any tips?

answer:
Window treatments not only add color, texture, style, and character, they can perform a number of functions. For example, if you choose a treatment that raises and lowers, like blinds, or one that opens and closes— like some draperies, you’ll be able to control light and gain privacy. A fixed treatment that covers the window at all times could eliminate an unattractive view. Or choose a valance or swag and jabot treatment that frames the window and leaves the center of the glass uncovered if there’s a view to capitalize on. Consider layering two types of window treatments, such as fabric shades or roll-up wooden blinds with a decorative fabric valance and/or fixed side panels. The combination provides control over the view or the light with easy-to-operate shades and adds decorative interest and style with the fabric. Window treatments can serve decorative functions too. Extra full draperies and a contrasting trim create a luxurious look. Or mount draperies above the window to make it appear larger.

Strike the chest smartly over the heart. This may be enough to start the beat. If not, quickly place the heel of one hand on the lower half of the breastbone and cover it with the heel of the other hand. Press down firmly on the lower part of the breastbone by rocking forward with your arms straight. Do this about once a second for an adult. For a child, use one hand only and press more rapidly—about 80 times a minute. For a baby, use finger tips only and press 100 times a minute. Meanwhile, you must continue giving mouth-to-mouth resuscitation. If you are alone, alternate two inflations of the lungs by mouth-to-mouth breathing with 15 heart compressions. Counting aloud will help you. If you have help, one person should do mouth-to-mouth breathing only; the other should do the heart compressions. The two of you should not act simultaneously, but alternate one air inflation with six heart compressions.

What if someone just doesn’t start breathing? Is there anything else I can do?

If a person is not breathing, it may be because his heart has stopped. This is particularly likely in cases of severe electric shock. If, in spite of your efforts, the first four breaths produce no result, continue to give mouth-to-mouth resuscitation, but between breaths, check that his heart is beating.

How can I tell if his heart has stopped beating?

Feel for the pulse to the side of, and behind, the Adam’s apple. If you can feel no pulse, the heart has stopped. The patient will be blue-gray in color and his pupils will be dilated.