Season 2, Episode 3: Casey Michel: American Kleptocracy
Book Club with Jeffrey Sachs
00:00
How Do You Actually Move Money?
Jeffrey Toobin: I thought bank transactions were going to be monitored, so that millions or billions of dollars couldn't really move. So how could south dakota do this? And where did the banks come in? And how do you actually move money? He says it was 'wild west back then' with people bringing double bags of cash and no questions asked. The patriot act is a progressive piece of legislation implementing these brand new anti money landering policies on american banks. In two thousand one, two thousand two, the act is pased. It really was one of these relative success stories.
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