Panama Papers

http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/

  Quote

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.

 

In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.

 

The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes.

I saw this on the Grauniad earlier... Seems like the US media's not touching it. At least NYT, WaPo and CNN.

lol only piece of shit USA Today seems to have coverage.

And what's the status of Messi's other tax evasion stuff anyway? Son is really striving to outdo Maradona on every level.

These criminals need to be behind bars, not pulling puppet strings. Fucking disgusting animals

The fucking PM of ICELAND!?

Mr. Anti-Corruption himself?!

I'm a little bit surprised the PM of Malaysia, Najib "Gift from the Saudis" Razak isn't on the leak.

Also, Jackie Chan lol. But then you read more about him and find out he is a terrible person who hates america, disowned his daughter, gave up his son, etc.

This has the potential to be huge. The journalists worked for years on this. I'm actually impressed that they managed to keep quiet about this until the time was right.

Lush

  On 4/4/2016 at 1:07 AM, doublename said:

lol only piece of shit USA Today seems to have coverage.

 

And what's the status of Messi's other tax evasion stuff anyway? Son is really striving to outdo Maradona on every level.

I'd say for Messi and those guys, it's their accountants and families that are fucking them over.

  On 4/4/2016 at 2:02 AM, Hail Sagan said:

Lush

Also,

Holy shit, a couple TBs of leaked data.

is this related to the Unaoil thing?

I just wanted to say that I'm glad to have been a part of this thread before it devolves into bickering.

  On 4/4/2016 at 12:35 AM, doublename said:

I saw this on the Grauniad earlier... Seems like the US media's not touching it. At least NYT, WaPo and CNN.

Also, from what little I've read, at least some of the reporters involved in the research were from the US...so given that it's Sunday here when all this is popping out, you'll likely see some reporting from said reporters and others first thing tomorrow. Possibly sooner, I haven't looked, but I imagine most of it will drop Monday morning.

Yeah, gonna be an enormous blue Monday for a lot of people.

No surprise at all. I drive past a billboard everyday that says 'RCB, The Bank You Can Trust'.

How is it surprising that wealthy people are using tax havens? Tax planning is not illegal. Only thing that would surprise me is if anything positive would come out of these leaks. There will be the usual tut-tuting from the media on the various high-profile people that might be in the leaks, but on the political side nothing will be done to dismantle the system of tax havens, it's too entrenched and those that have any pull to push through change are probably involved in it too in one way or another.

Again nothing new under the sun. We all known that the wealthy do their best to horde their wealth and make sure to pay minimal tax on it. We all know that the politicians are corrupt and will do what their donors ask them to do. The common people are too content and distracted in the west to show more than indignation about the current system and quickly forget it and accept the status quo. Because they feel too powerless to have a say on how our world is run.

no metion of the US at all

  On 4/4/2016 at 10:34 AM, o00o said:

no metion of the US at all

There should be more coming out the next 14 days. I am sure the US is well represented there.

  On 4/4/2016 at 8:25 AM, azatoth said:

 

 

Only thing that would surprise me is if anything positive would come out of these leaks.

innit

  On 4/4/2016 at 8:25 AM, azatoth said:

How is it surprising that wealthy people are using tax havens? Tax planning is not illegal. Only thing that would surprise me is if anything positive would come out of these leaks. There will be the usual tut-tuting from the media on the various high-profile people that might be in the leaks, but on the political side nothing will be done to dismantle the system of tax havens, it's too entrenched and those that have any pull to push through change are probably involved in it too in one way or another.

 

Again nothing new under the sun. We all known that the wealthy do their best to horde their wealth and make sure to pay minimal tax on it. We all know that the politicians are corrupt and will do what their donors ask them to do. The common people are too content and distracted in the west to show more than indignation about the current system and quickly forget it and accept the status quo. Because they feel too powerless to have a say on how our world is run.

I think it'd be best if you were to spend your time elaborating on what this "anything positive" would mean for you. (Rather than making generic statements i.e., "we all knew it")

I'd like to argue that there is something positive, the Icelandic PM's reaction is all the money

https://www.youtube.com/watch?v=ORlq_zrfWDc

It will be interesting if Iceland has new elections because the Pirate Party is currently leading the polls with about 36.1% support. Can you imagine a Pirate Party PM? There are going to be demonstrations today in Reykjavik.

Also this shit: Fund run by David Cameron’s father avoided paying tax in Britain

US leaks should be coming later today?

Anyway

It's not illegal, it's just the same unethical bullshit they've always been doing. A large scandinavian bank I'm a client of is implicated in a lot of dealings with Mossack Fonseca in the past decade. Lots of people are terminating their accounts. I'm fully aware I'm getting shafted either way so I don't really care.

a man a plan a canal

Iceland's PM in distinguished company lol

  On 4/4/2016 at 4:44 PM, IOS said:

 

  On 4/4/2016 at 8:25 AM, azatoth said:

How is it surprising that wealthy people are using tax havens? Tax planning is not illegal. Only thing that would surprise me is if anything positive would come out of these leaks. There will be the usual tut-tuting from the media on the various high-profile people that might be in the leaks, but on the political side nothing will be done to dismantle the system of tax havens, it's too entrenched and those that have any pull to push through change are probably involved in it too in one way or another.

 

Again nothing new under the sun. We all known that the wealthy do their best to horde their wealth and make sure to pay minimal tax on it. We all know that the politicians are corrupt and will do what their donors ask them to do. The common people are too content and distracted in the west to show more than indignation about the current system and quickly forget it and accept the status quo. Because they feel too powerless to have a say on how our world is run.

 

I think it'd be best if you were to spend your time elaborating on what this "anything positive" would mean for you. (Rather than making generic statements i.e., "we all knew it")

 

I'd like to argue that there is something positive, the Icelandic PM's reaction is all the money

https://www.youtube.com/watch?v=ORlq_zrfWDc

 

By something positive I mean, that this sort of manipulation of tax law and financial instruments that allows for this sort of unethical behaviour would be made illegal and those involved would get punished. On the whole I would like a proper discussion about the out of control financial markets and how to stop it.

I bet you all a Volca FM that the person who leaked the papers will be prosecuted and there will be no prosecution of the offenders. Its how 2016 works ya dummy.

*puts on tinfoil hat*

either this is all a propaganda/god-knows-what-for campaign orchestrated by the powers that be, or at least a couple journalists are gonna suicide via gunshot in the back of the neck