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THE 2016 scandal: the "Panama Papers"
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Cap'n Tightpants
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Apr 4, 2016, 04:10 AM
 
Trinidad Express Newspapers: News | Mossack Fonseca lets cat out of bag ahead of worldwide coverage of massive Panama Leaks data
http://panamapapers.sueddeutsche.de/...b8d3c3495adfc/
Panama Papers | The Guardian

A network of secret offshore deals and vast loans worth $2bn has laid a trail to Russia’s president, Vladimir Putin.

An unprecedented leak of documents shows how this money has made members of Putin’s close circle fabulously wealthy.

Though the president’s name does not appear in any of the records, the data reveals a pattern – his friends have earned millions from deals that seemingly could not have been secured without his patronage.

The documents suggest Putin’s family has benefited from this money – his friends’ fortunes appear his to spend.

The files are part of an unprecedented leak of millions of papers from the database of Mossack Fonseca, the world’s fourth biggest offshore law firm. They show how the rich and powerful are able to exploit secret offshore tax regimes in myriad ways.
A lovely 4 hour rabbit hole to go down, if you have the time. The implications are incredible. On a personal level, this takes me back to a business opportunity that I was presented with back in 2013 involving real estate development in south Florida. All my alarms were going off at the time; it smelled fishy as hell, despite the high profile partners involved, so I backed away. It appears to have been directly linked with this.
( Last edited by Cap'n Tightpants; Apr 4, 2016 at 08:42 AM. )
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Apr 4, 2016, 07:27 AM
 
This the only news on every screen over here right now. The prime minister of Iceland - which, if you recall, essentially went bankrupt a few years ago - was surprised by information that he was implicated and looked like an idiot in an interview. Lionel Messi, already in trouble with Spanish tax authorities, is in the papers, as is Platini and the head of FIFA's "independent ethics committee". A bank, partly owned by Sweden and Finland after a too-big-to-fail rescue back in the nineties, is revealed as having essentially sold shell companies like this for the explicit purpose of tax evasion. Tax evasion was already in the news after what is essentially an amnesty for past evasions and various people got revealed for doing this "self-correction", so this arrives just in time.
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The Final Dakar
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Apr 4, 2016, 09:47 AM
 
Nothing speaks to the apathy of the average person and distrust of the system than the amount of people who think very little will come of this.

As for me, I'll have to understand both the depth and deeds first.
     
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Apr 4, 2016, 11:30 AM
 
I think that the main point here is that we just got way more evidence on a few people we already suspected were scummy - and a small number of others got exposed. Of course the presidents of Russia and China won't be bothered much, but the above-mentioned Icelandic prime minister might get voted out over this.
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The Final Dakar
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Apr 4, 2016, 11:48 AM
 
Vindication is a poor substitute for justice.
     
Cap'n Tightpants  (op)
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Apr 4, 2016, 04:22 PM
 
Oh, they've not even released most of the US documents... yet.
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Apr 4, 2016, 07:14 PM
 
Next world leader to show up: Syria's Assad. Apparently he got a shell corporation to help him move money and avoid sanctions. Things just went from bad to worse for Mossack Fonseca - avoiding international sanctions is the sort of thing that tends to get you put in jail for a very long time.
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Cap'n Tightpants  (op)
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Apr 5, 2016, 11:42 AM
 
and the Icelandic PM goes down!
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The Final Dakar
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Apr 5, 2016, 12:25 PM
 
Heh.
     
The Final Shortcut
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Apr 5, 2016, 08:12 PM
 
Has anyone checked for Doofy or freudling's names, yet? Because someone might want to look for "famous British rock star" in these Papers.

Like I said then: more and more, this stuff is getting out.

     
Cap'n Tightpants  (op)
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Apr 5, 2016, 08:24 PM
 
I said it then and I'll say it now, raising taxes is entirely unnecessary, just close the loopholes and the gov't will have what it needs.
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Chongo
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Apr 5, 2016, 08:43 PM
 
Rand Paul would say "the www.fairtax.org would eliminate all of this."
45/47
     
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Apr 5, 2016, 10:04 PM
 
I don't mean to try to derail this thread, but it's along the same lines of "outsourced" corruption...
Do a search for the company that bribed the world in an ozzie newspaper.
     
The Final Dakar
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Apr 6, 2016, 11:32 AM
 
Pam claims he didn't resign.
     
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Apr 6, 2016, 12:05 PM
 
Sad that so many 3rd world dictators are mixed up in this. Stealing from their citizens and hiding the $$ off shore. Why did so many countries INCLUDING THE US modify their regulations so it would be so easy. This includes President LIAR and Hillary. How easy to get $$ to the Clinton foundation for Corruption.
     
Cap'n Tightpants  (op)
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Apr 6, 2016, 12:32 PM
 
Originally Posted by The Final Dakar View Post
Pam claims he didn't resign.
I was going by Snowden's comments last night: https://twitter.com/Snowden/status/717376138385948672

His timeline is pretty fascinating.
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The Final Dakar
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Apr 6, 2016, 12:38 PM
 
I'm not correcting you. He's disputing the story.
     
The Final Shortcut
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Apr 6, 2016, 10:14 PM
 
Originally Posted by Cap'n Tightpants View Post
I said it then and I'll say it now, raising taxes is entirely unnecessary, just close the loopholes and the gov't will have what it needs.
I agree with this entirely. I'll also add that I'm entirely in favour of a simplified code that cannot be taken advantage of, primarily (from a $ perspective) by the people who can afford to invest considerable resources to do so.

Of course, just like the Wall Street saga, the question is whether any real penalties will be applied because of this behavior. Colour me jaded, but I'm not optimistic.
     
The Final Dakar
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Apr 6, 2016, 10:58 PM
 
Originally Posted by Cap'n Tightpants View Post
I said it then and I'll say it now, raising taxes is entirely unnecessary, just close the loopholes and the gov't will have what it needs.
Yes. Technically, its politically saavy as you're not 'increasing' taxes.

Originally Posted by The Final Shortcut View Post
Has anyone checked for Doofy or freudling's names, yet? Because someone might want to look for "famous British rock star" in these Papers.

Like I said then: more and more, this stuff is getting out.

His condescension left a mark on you, eh? His rationalization for not paying taxes is a hoot as well.
     
besson3c
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Apr 7, 2016, 08:20 AM
 
How long before somebody brings Obama into this?
     
BadKosh
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Apr 7, 2016, 10:41 AM
 
     
Laminar
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Apr 7, 2016, 11:27 AM
 
Originally Posted by BadKosh View Post
From your article:

Clinton is not implicated in the Panama Papers, which pertain to offshore bank accounts set up by the Panamanian law firm Mossack Fonseca. But the Democratic presidential candidate’s connections to two subjects named in the leaked documents show the vastness and depth of her international relationships.
The only connections found so far are six degrees of Kevin Bacon-style.

But that won't stop people that already don't like her from trying to use it as ammo against her.
     
The Final Shortcut
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May 8, 2016, 07:15 PM
 
Sounds like all the names will get released tomorrow. At least the lawyers and accountants will be able to make even more money walking this back now.....
     
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May 9, 2016, 10:39 AM
 
The analyst that exposed GE has dug into the Clinton foundation. He calls it "charity fraud"
Whistleblower Turns Scrutiny on the Clinton Foundation
I decided, as I did with GE, let’s pick one that’s complicated,” said Ortel. “The Clinton Foundation is complicated, but it’s really very small compared to GE.”

When Ortel tried to match up the Clinton Foundation’s tax filings with the disclosure reports from its major donors, he said he started to find problems.

“I decided it would be fun to cross-check what their donors thought they did when they donated to the Clinton Foundation, and that’s when I got really irritated,” he said. “There are massive discrepancies between what some of the major donors say they gave to the Clinton Foundation to do, and what the Clinton Foundation said what they got from the donors and what they did with it.”

Last year, the Clinton Foundation was forced to issue corrected tax filings for several years to correct donation errors. But Ortel said many of the discrepancies remain.

Ortel said his reports in the coming months would also provide evidence that the foundation is not complying with state laws on fundraising, financial disclosure, and audits.

“I’m against charity fraud. I think people in both parties are against charity fraud, and this is a charity fraud,” he said.

Ortel said he hoped the reports would encourage investigative journalists to follow up on his findings.
45/47
     
Cap'n Tightpants  (op)
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May 12, 2016, 05:05 PM
 
Representative says actress Emma Watson had offshore company

Uh oh. What is it with these twits that pay lip service to socialism and then do the most "egregiously capitalist" things? Geez, what hypocrites. "People should pay more in taxes! Not me, of course, but everyone else should!"
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The Final Shortcut
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May 14, 2016, 10:48 AM
 
Did Emma Watson actually say or indicate that? I have no idea, but your statement feels like a projection.

Also, there's nothing inherently wrong with setting up an offshore company - there are plenty of perfectly legitimate reasons to do so. Unless it's for the purpose of illegal tax avoidance, of course.

#EmmaForever
     
subego
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May 14, 2016, 10:55 AM
 
One can argue taking advantage of loopholes is unethical, especially if you're more towards the left end of the spectrum.
     
subego
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May 14, 2016, 11:28 AM
 
Someone said something about the Clinton Foundation shenanigans which I feel is relevant.

Some impropriety was mentioned and Hillary defenders were quick to point out "that's not illegal".

Does that matter? How's about it just being a shitty thing to do. Does someone need to be slapped in chains before we get to care?
     
Chongo
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May 14, 2016, 11:50 AM
 
Originally Posted by subego View Post
Someone said something about the Clinton Foundation shenanigans which I feel is relevant.

Some impropriety was mentioned and Hillary defenders were quick to point out "that's not illegal".

Does that matter? How's about it just being a shitty thing to do. Does someone need to be slapped in chains before we get to care?
It turns out his latest alleged squeeze is part owner of a for profit company that received foundation funds. Legal or not, it gives a bad image.
Clinton charity oversaw cash commitment to company partly owned by Bill's friend | Daily Mail Online
45/47
     
Cap'n Tightpants  (op)
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May 14, 2016, 02:49 PM
 
Originally Posted by The Final Shortcut View Post
Did Emma Watson actually say or indicate that? I have no idea, but your statement feels like a projection.
On numerous occasions she's disparaged capitalism and Western liberalism.

Emma 'WTF' Watson, Capitalism is not that great, though. It's based...
Captain Capitalism: Emma Watson and the Panama Papers

Also, there's nothing inherently wrong with setting up an offshore company - there are plenty of perfectly legitimate reasons to do so. Unless it's for the purpose of illegal tax avoidance, of course.
It was a tax dodge, that was that firm's MO, that was the service they provided. They received the bulk of the interest from the investment vehicles they placed your money into, but you didn't have to pay the initial 40-80% tax to begin with. It's the most anti-social thing a person like her could ever do, making her a massive hypocrite.

#EmmaForever
#Bleh
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Cap'n Tightpants  (op)
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May 14, 2016, 02:53 PM
 
Originally Posted by Chongo View Post
It turns out his latest alleged squeeze is part owner of a for profit company that received foundation funds. Legal or not, it gives a bad image.
Clinton charity oversaw cash commitment to company partly owned by Bill's friend | Daily Mail Online
This would kill almost any other "Progressive" running for office, it's incredibly damning, but the media is working overtime to whitewash and cover it. "It's 2016", time for a female president, no matter how vile that person may be.
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subego
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May 14, 2016, 03:07 PM
 
Well, any port in a storm. Trump has a long way to go before I'm convinced she's actually worse.
     
Cap'n Tightpants  (op)
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May 14, 2016, 03:10 PM
 
I've not changed my mind, I wouldn't vote for either of them. I'll probably vote Libertarian... again...
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subego
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May 14, 2016, 03:17 PM
 
Oh, I'm not voting for either either.

Realistically though, you have to pick one of these jokers. Just because we've run away from it doesn't mean the choice isn't still there. We're just leaving the mess for others to clean up.

If I had to choose, I pick Hillary.
     
Cap'n Tightpants  (op)
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May 14, 2016, 03:37 PM
 
I despise each of them equally. Seriously, on my 50 pt scale they both scored a 9.
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subego
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May 14, 2016, 03:40 PM
 
I certainly understand that position.

PJ's endorsement, which I'm sure I'll butcher, is my feeling.

"They suck equally, but at least she sucks within known parameters".
     
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May 16, 2016, 05:05 AM
 
Originally Posted by subego View Post
I certainly understand that position.

PJ's endorsement, which I'm sure I'll butcher, is my feeling.

"They suck equally, but at least she sucks within known parameters".
Better the devil you know, right?
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