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A retired US Air Force colonel, who was charged with weapons smuggling during the Iran-Contra scandal in the 1980s, has been indicted again, this time for trying to smuggle automatic weapons into Somalia. US federal authorities accuse Joseph O’Toole, now 79, of conspiring with Israeli citizen Chanoch Miller, formerly an aeronautics engineer with Israeli defense firm Radom Aviation, to transport nearly 2,000 AK-47s from Bosnia to Banderal, Somalia.
- Mike Rivero
Member Submitted News
Moral hazard arises when a contract or financial arrangement creates incentives for at least one of the parties involved to behave against the interest of others, while engaging in unethical and possibly criminal behaviour.alexmark
China to start deposit insurance May1. Scheme will provide insurance for up to $80,628 per depositor per bk (via BBG)alexmark
Paul Singer: "Almost all of the countries in the euro block are long-term insolvent [as are Japan and the U.S.] because of a combination of debt & un-payable long-term entitlements"alexmark
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