AIG is chump change -- let's find corporate America's hidden billions

It's time to reform offshore banking, and see what untaxed wealth big business is hiding in overseas tax shelters.

From the jaded perspective of the financiers, the uproar over the AIG bonuses may provide a welcome distraction from far more important (and lucrative) abuses in the world's offshore tax havens.

So rather than continue arguing over chump change, it is long past time for the United States, with its international friends and allies, to demand accountability from the long list of tiny countries and principalities, from Andorra and the Cayman Islands ... Full Story »

Posted by Dwight Rousu
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Subjects: Business, Living, Politics, World
Topics: Finance, Globalization, Money, Money and Politics, Global Economy
Member Tags: tax evasion, Offshore subsidiaries
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Posted by: Posted by Dwight Rousu - Mar 22, 2009 - 11:46 PM PDT
Content Type: Article
Edit Lock: This story can be edited
Edited by: Dwight Rousu - Mar 22, 2009 - 11:46 PM PDT

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4.6
by Dwight Rousu - Mar. 22, 2009

Conason follows the money, and it leads to secret accounts for the purloining financiers in overseas banks. The outrage against the thieves might finally be used to crack the secrecy of their pirated loot. The article is illuminating in the sheer number of subsidiaries in shady places.

News Corp has 33 subsidiaries in the Caymans?!!

what reason other than evasion could there be for Goldman Sachs Group to set up three subsidiaries in Bermuda, five in Mauritius, and 15 in the Cayman Islands? Why did ... More »

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4.3
by Kenneth Sibbett - Mar. 23, 2009

A very will timed article that will please let these AIG bonuses out of the headlines and into the courts where they belong. These bonuses are a pittance compared to what people in all lines of work (mostly illegal if it has to be hidden) hide in these so-called banks. If the treasury would go after these companies they could retrieve untold billions.

How AIG can have hidden assets in off-shore accounts is beyond reasoning.

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3.4
by Fabrice Florin - Mar. 23, 2009
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3.7
by Ben Ross - Mar. 23, 2009

Important topic....slightly covered. A good start

Why are the people that caused the meltdown in charge of the recovery/bailout? The congress and the executive branches have been bought and paid ... More »

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4.6
by Tanya J. Maurer - Mar. 24, 2009
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4.5
by Glenn LaBauve - Mar. 27, 2009
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5.0
by Curtis L Walker - Mar. 23, 2009

It is well written and goes where other Mass Corporate Media does not dare touch. This should be the story on the news on cable talking heads.

Good enough to make me support with paid online subscription to Salon.

See Full Review » (7 answers)

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