Panama papers

[MADXSTER]

Surprised not see this posted anywhere.

This is some shit hitting the fan. Kinda surprised that this hasn't been leaked before now. Also no US people from what I know.

Lots of money being hidden.


http://www.wired.com/2016/04/reporters-pulled-off-panama-papers-biggest-leak-whistleblower-history/

[GoMuskies]

I think Americans are mostly in BVI or the Caymans. Some of it is shady. Some of it is just smart tax planning.

[waggy]

I'm not reading that whole thing. One question I have after just two or three paragraphs is, is what the "journalists" and "whistleblower" did, legal? Shell corps might be against the spirit of the rules, but they aren't illegal. Lots and lots of people have them. Like Go says, some of it is shady, but most of it is perfectly legal. Maybe I'm wrong since I didn't read the whole thing, but think the whistleblower and journalists should be charged for being douchebags.

[Emp]

Why is it douchey for journalists to investigate for over two years how the super rich avoid taxes...legally or not?

Many of the targets are government officials who siphoned bribes --- huge bribes -- for government contracts. THey never paid taxes and took the money from the citizens they represent, driving up the cost of infrastructure, medicine, and yes guns, bombs, drones, fighter jets, etc. The Presidents and officials of the Ukraine and Brazil, Afghans and Iraquis, head the list.

Others were Sep Blattner types taking private kickbacks for things like broadcasting rights, major sporting event bids.

Other targets are "businessmen" who dodged prohibitions on sanctioned/prohibited transactions and sales of oil, munitions.....never declared the income, offshored it.

Governments can't keep up with the globalization of tax avoidance, bribery and crime. As a citizen of the world I would like more transparency, not less. If you don't want or need to know, fair. But shooting the messenger simply because you don't care makes little sense.

[NY44]

Maybe I'm wrong since I didn't read the whole thing, but think the whistleblower and journalists should be charged for being douchebags.

Information is the currency of democracy.

This is exactly what journalists are supposed to be doing.

[Snipe]

Interesting that they took over a year to coordinate the effort, but even then I haven't read a lot of interesting stories about it. And stories of dictators and politicians being corrupt isn't exactly news. I would be surprised if a dictator existed that didn't have a nest egg.

Maybe Americans aren't involved because as Michael Kinsley said "The scandal in Washington isn't what is illegal, it is what is legal". For instance, Hillary Clinton is running for President, and check out the billions of donations to the Clinton Foundation. Everyone knew she was running for President, and she was Secretary of State. Yet the Clintons could still get paid billions of dollars through their foundation.

Maybe I am just cynical, and that everyone believes Hillary Clinton is just a neat person who could do far more good with billions of dollars than they could.

In America, all of our politicians are bought and sold. We expect that of them. There is no need to hide the money in Panama, you get to hide in plain sight and wear it with a sense of pride. Both parties do it. The Clintons do it better and have been more aggressive than most, but hey that is how you get to be the odds on favorite to be President. I wouldn't want to mess with her. She scares me.

This country has taken corruption and influence peddling and made it into an art form. We don't need Panama, no subterfuge needed indeed.

[drudy23]

Officials who took bribes to better their own personal situation at the expense of their constituency? Yeah, it's Thursday.

Sadly, at this point, it's not even a scandal, even though greed and corruption are at the root of every problem this country has right now. What hasn't been ruined in this country by greed and corruption?

[X-man]

Interesting that they took over a year to coordinate the effort, but even then I haven't read a lot of interesting stories about it. And stories of dictators and politicians being corrupt isn't exactly news. I would be surprised if a dictator existed that didn't have a nest egg.

Maybe Americans aren't involved because as Michael Kinsley said "The scandal in Washington isn't what is illegal, it is what is legal". For instance, Hillary Clinton is running for President, and check out the billions of donations to the Clinton Foundation. Everyone knew she was running for President, and she was Secretary of State. Yet the Clintons could still get paid billions of dollars through their foundation.

Maybe I am just cynical, and that everyone believes Hillary Clinton is just a neat person who could do far more good with billions of dollars than they could.

In America, all of our politicians are bought and sold. We expect that of them. There is no need to hide the money in Panama, you get to hide in plain sight and wear it with a sense of pride. Both parties do it. The Clintons do it better and have been more aggressive than most, but hey that is how you get to be the odds on favorite to be President. I wouldn't want to mess with her. She scares me.

This country has taken corruption and influence peddling and made it into an art form. We don't need Panama, no subterfuge needed indeed.
It's a sad day when we all become so inured to this that we stop being disturbed by it or stop trying to do something about it.