Relevant and even prescient commentary on news, politics and the economy.

Much of MNEs’ "offshore" (and hence untaxed) cash hoards held onshore

by Linda Beale Much of MNEs’ “offshore” (and hence untaxed) cash hoards held onshore The Wall Street Journal, in its editorial pages a great friend to big business and low taxes for same, had a decent front-page article¬† on the corporate hoard of cash designated as “permanently invested offshore”.¬† In fact, much of that cash […]

Yves Smith has been all over the Standard Chartered story

Yves Smith has been all over the Standard Chartered story: Reuters Runs Interference for Elite Corruption, Scrubs Article That Shows How Banks Get Out of Jail Free – 08/09/2012 – Yves Smith Standard Chartered Makes Empty Threat to Sue New York Regulator Over Iran Money Laundering – 08/09/2012 – Yves Smith NYS Order on Standard […]

New Estimate of Offshore Wealth Shows Big Increase Since 2004

by Kenneth Thomas New Estimate of Offshore Wealth Shows Big Increase Since 2004 A new report by the Tax Justice Network, “The Price of Offshore Revisited,” shows that the amount of wealth held in tax havens has increased enormously since 2004, and confirms what I previously wrote about the huge cost to tax coffers of […]