The U.S. was all set to join a global crackdown on criminal and terrorist money havens earlier this year. Thirty industrial nations were ready to tighten the screws on offshore financial centers like Liechtenstein and Antigua, whose banks have the potential to hide and often help launder billions of dollars for drug cartels, global crime syndicates--and groups like Osama bin Laden's al-Qaeda organization. Then the Bush Administration took office.
Officials from the banking-industry-friendly Center for Freedom and Prosperity sat down with top Bush economic advisers Larry Lindsey and R. Glenn Hubbard and urged them to keep the U.S. out of...
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