Panama Papers

[iluvatar5150]

So, Panama is a big tax haven and somebody at one of their big tax-haven-y law firms leaked a whole ton of documents to news agencies around the world, implicating heads of state and corporations around the world in schemes to evade taxes and launder money. Many lulz all around.

https://panamapapers.icij.org/

http://www.nytimes.com/2016/04/04/us/politics/leaked-documents-offshore-accounts-putin.html

WASHINGTON — A group of news media outlets published articles on Sunday based on what they said were 11.5 million leaked documents from aPanama law firm that helped some of the world’s wealthiest people — including politicians, athletes and business moguls — establish offshore bank accounts.

The German newspaper Süddeutsche Zeitung said its reporters had obtained the documents from a confidential source. The newspaper then shared the files with other media organizations, like The Guardian and the International Consortium of Investigative Journalists.

In an article, the investigative journalism organization said the documents revealed the offshore accounts of 140 politicians and public officials, including a dozen current and former world leaders and several individuals with close ties to President Vladimir V. Putin of Russia. The organization said reporters at 100 news media outlets working in 25 languages had used the documents to investigate the law firm, Mossack Fonseca, and its clients, including political figures in countries like Iceland, Pakistan and Saudi Arabia.

Here's the prime minister of Iceland being asked about it before he was aware of the leak:

 

[Chesterton]

It's long been rumored that under the table Putin is the richest man in the world. Not tens, but hundreds of billions of dollars. Trump seems to be a fan of Putin. I've wonder if Putin's thieving as a head of state might have inspired Trump's run for President.

 

[Oafman]

It's taking me some time to get my head around this story. The leak is vast, and there are so many different allegations, covering so many different money laundering and tax avoidance schemes.

All I really know so far is, I'm glad this stuff is out in the open. And we're going to be hearing about this for years to come, as investigations all over the world start to reach their conclusions.

 

[Vylo]

That interview is amazing. I didn't know someone could ooze guilty like that.

 

[wing2000]

That interview is amazing. I didn't know someone could ooze guilty like that.

Yes, the body language is telling.

 

[Chesterton]

That interview is amazing. I didn't know someone could ooze guilty like that.

I know right? I was expecting him to point out the window and yell "Look! Elephants!" and then start running away.

 

[nightflight]

It's long been rumored that under the table Putin is the richest man in the world. Not tens, but hundreds of billions of dollars. Trump seems to be a fan of Putin. I've wonder if Putin's thieving as a head of state might have inspired Trump's run for President.

A is B, C likes A; therefore................

 

[nightflight]

Cattle futures notwithstanding.

 

[rambot]

So we will learn the right and powerful are making their family and friends more rich and powerful. But we will continue to blame the poor, immigrants and refugees for every problem we can dream up.

 

[geetrue]

Jesus is my safe haven to die and retire for ...

 

[mindlight]

So, Panama is a big tax haven and somebody at one of their big tax-haven-y law firms leaked a whole ton of documents to news agencies around the world, implicating heads of state and corporations around the world in schemes to evade taxes and launder money. Many lulz all around.

https://panamapapers.icij.org/

http://www.nytimes.com/2016/04/04/us/politics/leaked-documents-offshore-accounts-putin.html



Here's the prime minister of Iceland being asked about it before he was aware of the leak:

These papers have been around for a year but they went public with them this month. I notice Russia Today and theChinese news sites are in vehement denial about the allegations. Also having been released to a German newspaper no major German or American politicians are implicated. That seems to indicate some information filtering or that they are all using another law firm controlled by an even more powerful hidden kingmaker

https://en.wikipedia.org/wiki/Panam...Countries_implicated_in_the_Panama_Papers.svg

 

[iluvatar5150]

These papers have been around for a year but they went public with them this month. I notice Russia Today and theChinese news sites are in vehement denial about the allegations. Also having been released to a German newspaper no major German or American politicians are implicated. That seems to indicate some information filtering or that they are all using another law firm controlled by an even more powerful hidden kingmaker

https://en.wikipedia.org/wiki/Panam...Countries_implicated_in_the_Panama_Papers.svg

One article I read (can't remember where, maybe on the Panama Papers website) suggested that the reason there are so few Americans listed is because they don't have to go to Panama for this kind of thing. They can set up similar structures within the US.

 

[Oafman]

These papers have been around for a year but they went public with them this month. I notice Russia Today and theChinese news sites are in vehement denial about the allegations. Also having been released to a German newspaper no major German or American politicians are implicated. That seems to indicate some information filtering or that they are all using another law firm controlled by an even more powerful hidden kingmaker

https://en.wikipedia.org/wiki/Panam...Countries_implicated_in_the_Panama_Papers.svg

Agreed. This is just one firm, although it's one of the biggest. Panama City is apparently full of them.

 

[iluvatar5150]

Iceland PM resigns

http://grapevine.is/news/2016/04/05/prime-minister-resigns/

 

[Oafman]

He had to go really. Especially after that butt-clenching interview.

 

[nightflight]

So we will learn the right and powerful are making their family and friends more rich and powerful. But we will continue to blame the poor, immigrants and refugees for every problem we can dream up.

Agreed. Its the rich and powerful who push insane policies that hurt their fellow countrymen; such as open immigration.

 

[Oafman]

One article I read (can't remember where, maybe on the Panama Papers website) suggested that the reason there are so few Americans listed is because they don't have to go to Panama for this kind of thing. They can set up similar structures within the US.

Aren't states like Nevada and Delaware low tax? I know they would still pay federal tax.

As for the kind of structures I've been reading about, I very much doubt such things are possible in the US. This stuff is basically fraud. Though I guess I've been reading about the most shocking examples. More modest structures might be possible.

 

[wing2000]

Oh the irony.....

The head of the Chilean office of Transparency International — an anti-corruption watchdog — stepped down Monday, after the leaked documents tied him to offfshore companies.

.....and before we look down on Panama --

"But Panama isn't alone in its permissive attitude toward shell companies, which the British-based Tax Justice Network estimates hide $21 trillion to $32 trillion in untaxed or lightly taxed financial wealth around the globe. Panama ranks 13th on the watchdog group's financial secrecy index — better than the U.S., which is at No. 3."
http://www.npr.org/sections/thetwo-...ut-from-panama-papers-echoes-around-the-world


We need a similar leak for those in the U.S.....that would make the Presidential election most interesting.

 

[Jonathan Jarvis]

These papers have been around for a year but they went public with them this month. I notice Russia Today and theChinese news sites are in vehement denial about the allegations. Also having been released to a German newspaper no major German or American politicians are implicated. That seems to indicate some information filtering or that they are all using another law firm controlled by an even more powerful hidden kingmaker

https://en.wikipedia.org/wiki/Panam...Countries_implicated_in_the_Panama_Papers.svg

What no US politicians!

So which US agency is behind the leaks?

The CIA is hardly known for its subtlety and tact. Maybe them?