Lernoux, Penny. In Banks We Trust. Garden City NY: Anchor Press- Doubleday, 1984. 310 pages.

Penny Lernoux was a practicing Catholic and prize-winning journalist who lived in Bogota until shortly before her death from lung cancer in October, 1989 at the age of 49. She moved to Latin America in 1962, first working for the U.S. Information Agency and then as a bureau chief and correspondent for Copley News Service. In 1974 she began free-lancing; her work has appeared in Newsweek, The Nation, Harper's, Atlantic Monthly, Business Week, and the National Catholic Reporter.

"In Banks We Trust" was a brilliant departure for Lernoux; either she was an ace reporter on any subject, or those who do specialize in banking and international finance have been too quiet for too long. She includes chapters on the Penn Square collapse, Citibank, Mafia money, Nugan Hand and the CIA, drug laundries, the World Finance Corporation and the CIA, and the Vatican Bank scandals. This was before the S & L mess and before BCCI was blown, but already it's an impressive list. From the introduction: "It is not surprising that the Mob prefers a bank patronized by the CIA, since both are involved in illegal activities, only the CIA calls its work covert action. Any bank that serves the CIA by funneling agency money into covert work must hide the trail through paper fronts, and such fronts are precisely what organized crime needs to wash its dirty money."
ISBN 0-385-18329-1

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