Oliver Bullough

1 month ago | codastory.com | Oliver Bullough

perspective Pretty much everyone in Brussels has had it in for Malta’s “Citizenship by Investment programme ever since it launched a decade ago, but it took the European Court of Justice to finally kill it, on the basis that it’s illegal to make acquisition of a passport a “mere commercial transaction”. “Such ‘commercialisation’ of citizenship is incompatible with the basic concept of Union citizenship,” the court declared.

1 month ago | codastory.com | Oliver Bullough

perspective According to Oxfam, In its annual survey of inequality, “there’s never been a better time to be a billionaire.” The rise in monopolies, inheritances, and soaring asset prices means global inequality, Oxfam argues, is now close to where it was at the peak of Western imperialism.   But this is not the impression you receive from interviews with individual billionaires, such as Egypt’s Nassef Sawiris.

2 months ago | codastory.com | Oliver Bullough

perspective Regular readers will know I dislike Transparency International’s flagship Corruption Perceptions Index, but my only objection to TI’s interesting new Opacity in Real Estate Ownership index is the acronym. Honestly, who thought OREO was appropriate here? Own up. Kleptocrats love buying property, partly because it’s a good way to get rid of a lot of money at once, but mainly because it tends to be both a good investment and gives one a nice place to live.

2 months ago | codastory.com | Oliver Bullough

perspective I visited the Commonwealth of the Northern Mariana Islands a couple of years ago, intrigued by its curious bad luck in repeatedly being struck by massive gaming and money laundering scandals, like this one and this one. In case you’re not au fait with the CNMI, it’s a US territory north of Guam, which is best known as the place the Enola Gay and the Bockscar departed from on their way to drop atomic bombs on Hiroshima and Nagasaki.

2 months ago | codastory.com | Oliver Bullough

perspective Last week I attended a crypto conference in Washington, D.C., and can report back that things are changing fast. New regulations look certain to come through in a hurry and – judging by the heinous quantity of lawyers in the venue – a lot of people are very serious about making a lot of money from them. This is, in my opinion, not good.