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Panama just passed compliance with FATF (February 2016) and it's a message that their political leader/law firm owner/world's largest money launderer (his name is in the OP's title) is no longer open for business after decades of being the go-to place for hidden $$$. http://www.fatf-gafi.org/countries/#Panama "The FATF recognised that Algeria, Angola and Panama have made significant progress in improving their regime…
Selected quote: "The ICIJ findings include evidence that: - Offshore companies linked to the family of China's top leader, Xi Jinping, as well as Ukrainian President Petro Poroshenko, who has positioned himself as a reformer in a country shaken by corruption scandals - 29 billionaires featured in Forbes Magazine's list of the world's 500 richest people - Icelandic Prime Minister Sigmundur David Gunnlaugsson and his w…
Hilarious that BBC, a broadcaster paid for by British tax payers, has a subheading in that article titled "Russian connection" describing various dealings of Russian characters who are "close associates" of Putin and an equally sordid "Iceland connection" but not even a mention of David Cameron's father's tax evading schemes listed in the documents which the people of Great Britain should be vastly more interested in…
Once tax havens and double dutch schemes are unavailable to legally operating businesses, we can be very hopeful that instead of accumulating digits in a bank account, companies like Apple and Google will be forced to spend like the rest of the economy does. Spending is what's keeping the lights on generally speaking, so allowing some wealthy companies to just sit and mountains of wealth benefits nobody. Of course th…
Spending on what? I think one big problem here is that the capital is possessed by entities that were nurtured in very specific markets. Take Apple. They are really nothing more than a "shiny gadgets/personal computing" company. They have a ton of potential to invest in other markets but they do not have the expertise to do so. What are their options: 1) start acquiring and undoubtedly mismanaging companies that are outside of their market domain 2) setup a wealth management unit that invests passively in equity markets and such.
I think this could easily be elaborated into an argument against the orthodox liberal economics claim that says that markets allocate capital to the most able entities; the implication being that those same entities will make best use of said capital. I think here it is clearly not the case. Sorry, but I don't really trust Apple to come up with a decent EV solution (I know they are trying). I don't even trust them to invest in the correct EV startups. What do they know? It's not their market domain.
Once tax havens and double dutch schemes are unavailable to legally operating businesses, we can be very hopeful that instead of accumulating digits in a bank account, companies like Apple and Google will be forced to spend like the rest of the economy does. Spending is what's keeping the lights on generally speaking, so allowing some wealthy companies to just sit and mountains of wealth benefits nobody. Of course th…
>companies like Apple and Google will be forced to spend like the rest of the economy does Spending on what? I think one big problem here is that the capital is possessed by entities that were nurtured in very specific markets. Take Apple. They are really nothing more than a "shiny gadgets/personal computing" company. They have a ton of potential to invest in other markets but they do not have the expertise to do so.…
Selected quote: "The ICIJ findings include evidence that: - Offshore companies linked to the family of China's top leader, Xi Jinping, as well as Ukrainian President Petro Poroshenko, who has positioned himself as a reformer in a country shaken by corruption scandals - 29 billionaires featured in Forbes Magazine's list of the world's 500 richest people - Icelandic Prime Minister Sigmundur David Gunnlaugsson and his w…
Leo Messi too, who had already been caught on another scandal by Spanish Tax Office.
Holy moly, something tells me this will blow up. Any torrent available?
Earlier quoted context omitted.
Actually its: Hacker News - The little island that is not corrupted by sarcasm and sensationalism.
Well, it is actually pretty interesting how the information has been managed in case. The press wants their own piece after they lost the previous major leaks completely. It's actually pretty relevant discussion about the future of an industry that has been in slow decline for the last decades. In case someone interprets that as sarcasm or sensationalism that is probably an attitude problem, or perhaps an issue with…
The information is being released by 100 different news organizations in 100 different countries. It has nothing to do with protecting their jobs from "Internet sleuths", it's having professional journalistic standards.