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Wash

Scott Galloway@profgalloway

Published on March 18, 2022

Mount Everest has been scaled by 6,000 climbers, and 300 have died. Of those, 85% died on the descent. Just as invasion is (usually) harder than occupation, criminality itself is often easier than figuring out how to spend your ill-gotten gains. Digital bank records and international regulatory systems make it hard to turn blood money into Lambos and Alhambra necklaces.

Enter money laundering: The UN estimates that $2 trillion in proceeds from crime are laundered into the legitimate economy every year. This goes way beyond Jason Bateman stuffing cash into the walls of his house in the Ozarks. It’s billions in off-shore accounts, corrupt construction projects, and thousands of cash-intensive businesses ranging from strip clubs to five-star restaurants that do better than their footfall would suggest.

It’s a big business attracting more law enforcement scrutiny, new laws, and international task forces. The feds got Al Capone for tax evasion — following the money is one of law enforcement’s best weapons.

Kleptocracies

Yet until just a few weeks ago, a first cousin to money laundering received far less attention: money washing. The conversion of corrupt, if not illegal, oligarch money into Kensington flats and Premier League football clubs. London, aka Londongrad, has become the global capital of money washing, but it’s more widespread than that. Much more.

The sources of this money are kleptocratic regimes: Governments that operate like organized crime syndicates, extracting wealth from the resources and hard work of the people they rule. Think of Russia, Saudi Arabia, the other petrol states, and countries ranging from Argentina to Zimbabwe where corruption lets billions leak from the legitimate economy into the pockets of the elite, the patrons of the money washers.

This wealth isn’t necessarily “illegal” — the elegance of cronyism — but there are heavy strings attached.

Klepto-fortunes are made in countries where the rule of law is fluid and shaped by competing elites … who are also walking a tightrope. Russian oil oligarch Mikhail Khodorkovsky was one of the wealthiest people in the world until he fell out of favor with Putin and spent a decade in prison, ending up with just $500 million. He was lucky. Nikolai Glushkov, the former finance director of Aeroflot, was found strangled with a dog leash in his London flat, just before he was scheduled to appear in court to testify about Kremlin corruption. (Note: Don’t know what happened to the dog.)

A common feature of kleptocracies is that they are unappealing places to spend money. A hundred million dollars in London, Paris, and St. Barts buys a better life than any amount of money will afford you in Riyadh. And you don’t obtain modern economy status with a mansion or a megayacht, but with courtside seats next to Kanye or a position on the board of MoMA. There are forms of washing everywhere. Anna Wintour sells prestige in the form of admittance to the Met Ball, via purchase of print ads in Vogue. Admission to elite society is for sale, but big spenders from autocracies require fabric softener before admission.

Downey

Just like drug kingpins, oligarchs have money but can’t spend it. Enter the money washer. This is any jurisdiction with strong property rights, ample luxury goods, and a willingness to overlook origins. Also a society that accepts oligarch money for real estate, yachts, and midfielder salaries. Money laundering is done in secret, because it requires hiding the source of money. Money washing hides in plain sight, because that’s the point (appearances). Money washers merely ask the broader community to ignore the money’s origins.

Money laundering experts outline three components: Placement (getting dirty money into the legitimate financial system), Layering (concealing its source through dishonest transactions), and Integration (making it available for spending). Money washing also has three components: Removal (getting kleptocash out of the kleptocracy), Enjoyment (converting dead money into a luxury lifestyle), and Elitism (entry into the elite cultural and political circles of the adopted country).

The key principle of washing is removal: getting money out of Russia (or Iran or Kuwait or Venezuela) and into the West — the American/European financial system.

The first port of call for many oligarchs is a web of shell companies located in places including the Virgin Islands and the Caymans. This converts their cache into dollars and euros and removes it from the grasp of the kleptocracy back home, which could have a change of heart. But ultimately oligarchs want things, not numbers. Buying Western assets, vs. just shifting money into Western accounts, looks more like legitimate business activity, and the purchase can earn a return and garner Western prestige.

Oligarchs have taken stakes in everything from aluminum producers to Big Tech companies. Russian oligarch Mikhail Fridman’s LetterOne holds $25 billion in Western telecoms and oil companies; in 2016 it invested $200 million in Uber. The Saudis are prominent Valley investors as well. Sports teams are another target. Roman Abramovich’s ownership of Chelsea F.C. is only the highest-profile example of Russians owning or investing in soccer teams. Three out of the four clubs in last year’s Champions League semifinals were owned by oil sheikhs or Russian oligarchs. Abramovich has a 767 with a black mask painted around the cockpit windows. He calls it Bandit. Believable. (Try explaining all this to your 11-year-old who wears pajamas with “Lukaku” on the back.)

Luxury real estate is a top-shelf option. It’s scarce, experiences low volatility, and you get to live in a phat pad. Similar to a sports team, it serves the second objective of money washing: enjoyment. Forbes identified $2.8 billion in extraordinary real estate owned just by Russian oligarchs. Putin’s former judo partner’s brother owns three villas in the French Riviera. (Rumor is, Steven Seagal lives in the pool house, where he vapes mango-flavored Juul pods, streams Cobra Kai, and yells at the microwave.) Petr Aven kitted out his 8.5-acre Surrey estate with a “KGB-proof” mansion, complete with panic room and intelligent electronic fencing. It makes sense that oligarchs are worried their cash could be stolen … for a second time.

Achieving elite status is washing’s third phase, and the finest laundromats attract cash with their reputational accoutrements. Pay-to-play aristocracy is London’s true sex appeal: Secure a recommendation from the prime minister to the queen, and bang, you’re a lord. Unsurprisingly, the best way to gain royal favor is to be very rich: Half of Brits with a net worth over $5 billion have received a title of nobility from the crown.

It works just as well for foreigners. Aluminium oligarch Len Blavatnik (the richest person in England) became Sir Len Blavatnik after he donated £50 million to the Tate Modern. Evgeny Lebedev, the son of billionaire Russian banker and former KGB officer Alexander Lebedev (and also the owner of London’s 200-year-old Evening Standard), became Lord Evgeny Lebedev after Boris Johnson vouched for him despite national security concerns.

Wash, American Style

In the U.S. a favored way of increasing your social capital is to donate money to food banks and voting rights groups. Just kidding, it’s higher ed.

Department of Education data reveals billions of dollars in foreign donations to U.S. institutions. Much of that may be from legitimate sources, but it provides cloud cover for the influx of dirty money. The National Endowment for Democracy reports that oligarch gifts are often commingled with money from other sources (some stains need pre-soaking), but they’re then leveraged to influence academic direction, secure campus speaking opportunities, and (shocker) gain admission for family members. MIT has raked in almost $1 million from Russian oligarchs, and NYU (my HQ) has received more than $4 million. Yale has a Blavatnik Fund for Innovation (Sir Len Blavatnik) as well as a Blavatnik Fellowship. Harvard’s Islamic Studies Center was named after a Saudi prince. These are great washes — they signal care and empathy for future generations and distract from your fortune’s origins while ensuring your kid gets a seat.

Another effective wash? Museums, cultural institutions, and nonprofits. In 2012 the Brooklyn Academy of Music accepted $1 million from former Putin crony Prokhorov. Dimitry Rybolovlev donated $1 million to the Mayo Clinic. Vladimir Potanin gave the Kennedy Center for the Performing Arts $5 million. Foreign oligarchs don’t have a monopoly on this tactic. The oligarchs of pharma, the Sacklers, built a wing at the Met (the wing opposite is named after a Rockefeller). The bonus perk of museum-washing is you get to hang with more artists (fun) and fewer asset managers.

All of this works in concert. Becoming a member of the social elite reinforces property rights. Mr. Abramovich lost his Kensington mansion last week. Would things have played out differently if he’d spent his money at the House of Lords instead of Annabel’s?

Londongrad

But London is the undisputed capital of money washing. Why? Paris is prettier, LA has more celebs and better weather. But nothing beats focus: London became money washing heaven on purpose, and it’s been doing this longer than anyone — since at least 1799, when King George III introduced the non-domicile tax system. It’s still in force today, with only limited reforms. Anyone living in the U.K. whose “real home” is abroad doesn’t have to pay taxes. When agricultural depression ruined the economics of the landed aristocracy, the titled classes imported foreign wealth via marriage. Three hundred and fifty U.S. heiresses married into the British aristocracy prior to WWI, including Winston Churchill’s mother. A good trade: The Lords gets to keep the wealth; the foreigners get to live in Downton Abbey.

In the post-Cold War globalization era, the U.K. doubled down on making London a magnet for foreign wealth: It deregulated the financial sector, loosened taxes, tightened libel laws to keep journalists out of the new arrivals’ hijinks, connected PR firms to oligarchs who colluded with MPs, and created a “golden visa” that gave residency rights to anyone who invested £1 million in the country.

Today, 87,000 homes in the U.K. are owned by foreign shell companies — £1.5 billion of those are owned by Russians linked to the Kremlin. Then NIMBYism and embrace of a scarcity economy takes over. Limits on home renovation and expansion meant to preserve England’s Englishness have put homes out of the reach of the English.

Glass Houses

Londongrad may be the money washing capital, but it has competition. When it comes to shielding oligarch wealth behind impenetrable layers of shell companies and trusts, the surprising up-and-comer is South Dakota. A series of modifications to existing trust law permits the concealment and protection of assets with no questions asked: The state holds an estimated $360 billion in trust assets.

Oligarchs love U.S. real estate as well: Those skinny Manhattan ultra-high-rises that have sprung up in the past decade are a response to the influx of foreign money into the city. The condos inside are known as “the world’s most expensive safety deposit boxes.”

In America, some laundromats offer better evasion services than others. Florida, for example, has no income tax and allows you to keep your home when you file for bankruptcy. Nearly a third of U.S. houses bought by Russians in the past six years were located in the sunshine state.

The global money washing industry is thriving throughout the U.S. and Europe, and kleptocash has seeped into every corner of our economies. This has profound consequences, for us and for the exploited citizens of the kleptocracies themselves. When Russia began privatizing in the 1990s, it was clear that crime and corruption were rampant. But Western leaders reasoned that once the oligarchs gained their wealth, they’d develop an interest in stability and the rule of law to protect it, and to support the development of an economy and society where they could enjoy their ill-gotten gains. It’s an age-old phenomenon: Bandits become bandit kings and eventually see the virtues in shedding the banditry — or at least corralling it with law and law enforcement.

But as Russia scholar Karen Dawisha wrote in Putin’s Kleptocracy, that view “failed to foresee the extent to which globalization would allow Russian elites to continue to maximize their gains by keeping domestic markets open for their predation while minimizing their own personal risk by depositing profits in secure offshore accounts” — and enjoying the fruits of the Western economy by buying yachts, enjoying five-star meals, and hanging with celebrities. As she later put it, “the rule of law for Russia is in London.”

The oligarchs may be the ones stealing from the Russian people, but we are the pawn shop that fences their stolen goods. The waiter at Little Nell in Aspen is getting a larger slice of the Russian oil economy than the vareniki chef in St. Petersburg. That’s not an exaggeration as rich Russians (no joke) hold as much money outside Russia as the entire Russian people hold inside Russia. Since Russia’s invasion of Ukraine, we’ve been demanding that Western businesses stop operating in Russia. There’s good reasons for that. But we should be looking in the mirror at how our own businesses are serving the needs of oligarchs outside Russia.

Little of this has been done in secret — shell company shell games are just for the lawyers; we know who owns those yachts. Public displays of wealth are often the point. In 2020 a U.K. government report acknowledged that “a lot of Russians with very close links to Putin who are well integrated into the U.K. business and social scene are accepted because of their wealth,” and warned that these links were being actively used to undermine the country’s democracy and distort media coverage. (Dawisha couldn’t find a British publisher for Putin’s Kleptocracy, and two separate Financial Times reporters have faced libel suits for their coverage of the oligarchs.) There is growing evidence that washed oligarch money isn’t so clean after all, and remains linked to the Russian state. Yet nothing has been done.

Both the U.S. and the U.K. have laws in draft that would begin to push back on money washing. But until Russian bombs started falling on Kyiv, the legislation wasn’t moving. The U.S. “Enablers Act” has been in committee for six months. Perhaps the specter of a great power trying to crush a 40-million-person country will inspire us to take a hard look at our own money washing machine and the real costs of those yachts.

Regulatory capture by Russians in the West elevates capitalism over democracy, and that has implications beyond foreign influence. Each football club and villa purchased by oligarchs moves us down the path to cronyism and our own oligarchy. My state’s junior Senator, Rick Scott (R-FL), this week proposed halving the budget of an oversight agency (the IRS) that helped uncover the largest case of Medicare fraud in history. The guilty firm’s CEO? Comrade Rick Scott.

LIfe is so rich,

P.S. If everyone on your team is leaving for greener pastures, you’re not alone. Join me and Adam Grant on March 23 to discuss: Why is everyone quitting?

Comments

63 Comments

  1. RIL says:

    Thank you Scott for putting into one succinct essay what we have known from various sources for too long. The UK and the US are as complicit with this theft as the Caymans and Panama are. If there was less money in politics allowed, maybe then we’d get true public servants. Right now the Senators and congresspeople are serving themselves

  2. Tim says:

    $360 billion in S Dakota?! Sir Galloway is the people’s champ, share the knowledge

  3. jj says:

    in case it wasn’t already mentioned, the Patriot Act required a lot of focus on where money came form – for stocks and bonds, but NOT for real estate. hmmm . . .

  4. NJC says:

    Question: If Putin is a criminal oligarch hand-in-glove with all those other Russian oligarchs; and if this Ukrain war is hurting them so much through sanctions etc – why is Putin so keen on it?
    There seems to be a ‘rational disconnect’ here .. ?

  5. Wolf says:

    Americans only one want thing: get as high up the ladder as soon as possible, because they only care about bottom feeders when they are bottom feeders, the faster you get out of there, the faster you become blind to your privilege and others’ needs. Individualism is America’s only value.

  6. Miles T says:

    Of course, it is not just oligarchs that make donations to improve their reputation.

    As an example, the Sackler family attempts to artwash their profits from their pharma business by big donations with naming rights to some major London museums (much of the Sackler artwashing has now been reversed after the controversial source of the money was highlighted as a issue in the media, including, ironically, in the Evening Standard newspaper, if I recall correctly…certainly reported after the fact).

  7. Nick G says:

    Scott – I value your insights as ever, but MPlaut has a point. Please can you write a follow-up laying out your ideas on how the current crisis can be leveraged to put the laundromat out of business….and what might be the consequences (particularly for the UK economy)?

  8. MPlaut says:

    This article is all just virtue signaling. Look at all that applause. There is not the faintest hint of any alternative to the existing state of affairs. Alternatives may well be worse.

  9. Jon H says:

    You should turn off comments. They are a net detractor.

    • Luci says:

      I find they add some missing and/or relevant context. Wish they had up/downvote functionality.

  10. Ertugrul M says:

    Enjoyed reading, spend some additional time on the links. Thanks.

  11. J Morales says:

    This has been going on in Miami since the 70’s. Would be curious how many regulators turn a blind eye.

  12. Alan Alper says:

    So richly insightful, with the money trails to prove it; bravo, Scott!

  13. Jay Bee says:

    Money follows money. The Russian rich stash their riches in the same well develped hiding places of the US and European rich. In Switzerland, Lichenstein, Panama, Delaware, the Carribean.

  14. Jay Bee says:

    Don’t blame London. Russians are everywhere in Europe. The French Cote d’Azur and country Chateaux, Swiss and French ski resorts, Spain and Portugals coastal playgrounds. Italy’s Tuscany and the Amalfi coast.
    Croatia and Montenegro and Mallorca harbour their yachts. Greece and Cyprus and Malta are all money laundering centres. Trump Tower is full of them.

  15. frans says:

    USA’s Joe Kennedy is a great example of a money-washed criminal turned accepted elite. His descendants have become embraced by high society despite their blood money. Looks like our country has a very accepting history of this behavior. Shame on us.

  16. History Rhymes says:

    Prof G, Your Russian Oligarch story has another perspective… listen to V. Putin talk about his personal fight against the Russian Oligarchs… in his own words.

    Use bing or yandex search — google is blocking it 🎵 type: Aearnur newsletter vladimir putin on socioeconomic support

  17. Sam R says:

    Hello from Newcastle, UK, the next laundrette for Saudi investments offering an immaculate service.
    Buy football club – check
    Invest in high rise properties that will be home to Her Majesty’s Tax office – check.

    Once again the path to understand how and why is interweaved with the British, the reasons for Brexit becoming clearer by the day.

    You’re the only person whose opinion I read these days Scott. Dangerous I know but trust is a wonderful thing.

  18. Icu See says:

    Your next article could do a deep dive into the Ukrainian Oligarchs. Even President Zelensky himself owns a Florida mega mansion! WTF?!

    • HelloWorld says:

      Could you stoop any lower? Clown.

      • Truth revealed says:

        Breaking down Ukraine – let’s start with Zelensky’s $35M mansion in Sunny Isles, FL built by Kolomoisky and Pinchuk. $1.3B in the bank!! Visit Twitter == Search: George Webb – Investigative Journalist

        • Jay Bee says:

          And where did the $’s come from for Ukraine oligarchs. Courtesy of Obama via Biden.

  19. ranjeet says:

    our own oligarch in india.
    the description above is a same story repeated in india. our is a poor country where oligarch likes ambani and adani control 80% of the wealth of the country. 90% of the people live on bare minimum. the nexus between the politician and oligarch is written all over the govt policy they make to enrich these oligarch and in return get political funding and personal gain.
    a political revolution in is the need of the hour.

  20. Will DiBello says:

    How is this different from what the investment class do to labor in this country? Obviously there are degrees of kleptocracy but seems pretty similar to what corporations do to workers.

  21. Sunil rao says:

    Brilliant analysis ! But full stop !!! For all the talk , the West will continue to turn a blind eye to this washing , as long as it’s good for their economy and for those indulging in helping the oligarchs.

  22. Cynical John says:

    It was ever thus! Most of these people made money because of their political connections. Politics is Power, Power begets Wealth and wealth buys goods and status. Just lots of ways to do it…some years ago one ex US politician offered a Swiss friend access to the president of a foreign country for $1m and use of his private jet! Not all politicos are like Harry S Truman. Excellent and well researched piece. Thanks

  23. Geoff says:

    Great read and super helpful to see a long flow of information and how it all interconnects with the wider financial system and society.

  24. Amy says:

    stunning post today! head spinning. there is a world i have zero interaction with yet impacts my efforts for financial security. sucks.

  25. Jon says:

    Don’t forget the Chinese. At least one Harvard grad school sold naming rights to Chinese. UMass same.

    Pound for pound there is more Chinese washing than any other country.

  26. Roadman Mike says:

    It’s the Lukaku pyjamas for me and the fact that, my G – Prof G even knows what a Nimby is – mad respect fam, you or a very conscientious work experience (person) did some work here.

  27. Yoav Michaely says:

    The US has strict money laundering regulations. You can’t bring in any amount unless the banker knows you and is satisfied that the source of the funds is clean and taxed.
    Conveniently , there is one loophole. Realestate. You can buy a 100 million penthouse in NY , send the cash directly from a Swiss bank account that was opened two days ago and funded via transfer from Congo from a company formed one day earlier. No questions asked. It’s legit.

    • JJ Keitzer says:

      I hate to tell you that those regulations are commonly ignored in all US banks. Real estate is not required.

  28. Nico says:

    You mentioned Argentina in your post, and things int that country are quite different than in others mentioned in the post, since it’s not oligarchs who offshore and at times “wash” their money, but rather a very large chunk of the middle class, who do so to protect their savings. I used to live there, and I emigrated for this very reason.

    In Argentina, any dollar exported by a company or an invidividual is effectively taxed above 70% by the government (thanks to different exchange rates, and what they call the “cepo”, which is a law that forces you to transform any dollar you make into the national currency, and then prevents you from exchanging it back. it is important to take into account that argentina has a 4-7% monthly inflation rate, which kills anyone’s savings in no time). There is also no credit. Private pensions were also nationalized a few years ago, and that meant people who had saved for years lost all their savings to a system run by the Federal Government that pays pensions well below what they would have got had they kept saving in the private system.
    Companies that operate within the country are taxed an effective tax rate which sits above 100% (this is because the government calculates taxes based on how much money you nominally made, but remember, there’s >50% annual inflation, so if you had a 40% “margin”, which sounds like a lot, but is possible as prices rise all the time, you are effectively paying taxes over losses). Provinces also collect taxes over revenue (not profit), so it is basically impossible to make money.

    And so, in this context, it becomes almost necessary to evade taxes to survive. No one likes it. But unfortunately the system works in a way that if you don’t have your money abroad (or in cash, at home, as many do, or in crypto assets), and where if you don’t evade some taxes, you go bankrupt and you are left without any savings. It’s awful. No one enjoys it. But the government forces its citizens to become criminals, or go broke. And this also means no one is really investing in the country, hence it becomes poorer every year.

    Tax evasion and money laundry are bad. But for the citizens of some countries it is the only way not to end up in poverty and to save for the future.

    • Nico says:

      I should add, these are people who work on legitimate, fully legal activities.

  29. Judy Rose says:

    Rich with thought, chuckles and always mind boggling details. More time with artists verse asset managers, agreed.

  30. C Cook says:

    Given political leanings, I am not surprised that the Clinton Foundation was not mentioned. Putin gave to it, and ‘poof’, Sec of State Hillary releases a shipment of Uranium held up previously by national security concerns. That is the same Foundation that seems to fund a few ‘startups’ by Bill’s former girl friends. VC as hush money, yet another way to do your laundry.

  31. Louis Day says:

    Always good but you outdid yourself today. Great piece!

  32. HBS360 says:

    Truly insightful. I lived in London and NY many years and “knew” about it but never saw this kind of quantification. disturbing on so many levels.

  33. ROBERT M HEANEY says:

    HOLY SH– – !!!!!!!!

  34. Mark White says:

    Excellent. I essentially agree with everything you’ve said but still have one lingering upset, namely, why does it take white middle class people being killed to create the indignation and explanatory outrage? When it’s Palestinians, Haitians, Africans, Pakistanis, Indians, Afghans, Iraqis, i.e., the rest of the world, it’s all so much more OK.

  35. Wista Johnson says:

    Very informative, enlightening, and frightening article about the hypocrisy of “democratic” governments.
    This kind of story carries little interest for most working folks because we don’t see the harm done to our economic lives.
    Well-written without being heavy-handed.
    Thanks.

    • Christopher Hoyt says:

      @Wista Johnson, you don’t see the harm being done to your economic life? What’s in your wallet because you need to use 25% APR cards to have a decent standard of living thanks to how overpriced US life is as a result of this activity?

      • G Jeddis says:

        95% of this is report is interesting and informative; full of sound and fury but signifies little.
        The report finally packs a punch and hits home when it illustrates similar crimes (Sacklers) and protection of elites (Sen Scott: US politics) are 365 a year activities here in USA.
        Freeze their assets; win the right to control their dispersion and use the proceeds to repair damages unjustly inflicted by war criminal behavior.

  36. Ls says:

    Great reporting, I really appreciate this. Cracking down on dirty money is so overdue. Even in my small eastern Long Island town there are real estate transactions that are clearly dirty and it has been breaking my heart. So hoping this gets cleaned up. Thanks for your work Scott,

  37. DJ says:

    Uh Trump… Florida condos… the omission is deafening.

    • John Logic says:

      the NY condos

    • FRM says:

      Trump is not an oligarch. He only plays one on TV.

    • c cook says:

      GOP Senator got a mention at the end. The Democrats, especially in the form of the Clinton Foundation, got a pass. You cannot mention Hillary in NYC, too many Hedge Funds are still angry that all their money couldn’t win the White House.

      • Bkwilly says:

        But I’m glad the Florida senator was mentioned because I knew nothing about Rick Scott’s background and foul play before seeing the comment and going down a rabbit hole. Wow, what a despicable human. The voters in Florida just keep picking winners…

    • DT says:

      I was just thinking the same thing – where is Trump in all of this?

    • lisa a says:

      I feel like he doesn’t want to give him any attention. : P

  38. Brad says:

    Great stuff Scott. “Follow the money” has always been the best way to find the most egregious crooks and criminals – no matter how elaborate the “legitimate” fronts they erect or people that they co-op. The challenge lies in using what we know about ill-gotten gains to create policies and penalties to right the wrongs. So far we haven’t been very successful but that’s not a reason to quit trying or hoping. Keep writing.

  39. Anton D. says:

    If we were to follow Putin’s sick rationale, then it is time to demilitarize and denazify Florida. One guy with unbalanced power. I hope the world learns the lesson of setting up government systems based on division of power. #supportUkraine

  40. Thomas says:

    Well done.
    Perhaps you could help the citizens understand the extent and impact of Congressional Insider Trading?

  41. BILL WILSON says:

    Nailed it again, Scott – and the last paragraph re arch criminal Rick Scott was right on and should be on billboards…

  42. Yuri says:

    Topical rant on a week when the New York Times admitted that Hunter Biden’s laptop is real. When The New York Post covered it 18 months ago, our kleptocracy censored them to protect the big guy.

    • BILL says:

      Hey comrade, that’s not what that weirdly meandering article in the Times said – as you well know, disinformation & malinformation are seeded with a twisted factoid. ” but her emails…”

      • Kostas says:

        Good article. The next article should be about legislating world wide transparency. We need to stop the secrecy that enables all this.

      • Kostas says:

        The next article should be about legislating world wide transparency. We need to stop the secrecy that enables all this.

      • Kostas says:

        We need to stop the secrecy that enables all this.

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