The Panama Papers thread

How big does a leak have to be before we can call it a canal?
 
moklet said:
11.5m files that must have taken some time to leak, wonder where the person is going to hide as it involves probably all countries in the world.
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They released them to a huge bunch of journo's so it's mostly just not one guy/girl.
 
Think the ramnifications of the Panama Papers are going to continue for a loooong time still.
 
Obama addresses bombshell Panama Papers leak to promote tax reform

Obama held the press conference to promote the Treasury Department's new package of rules on Monday aimed at disincentivizing tax inversions, the process by which companies move their tax bases overseas to avoid high corporate tax rates.

Obama said the issue of corporate inversions is different than the movement of money detailed in the Panama Papers. But he stressed that the US needs to work more with foreign partners to ensure that the US prevents companies and wealthy individuals from attempting to escape paying what he called their "fair share" in taxes.

"The basic principle of making sure that everyone is paying their fair share and that we don't just have a few people who are able to take advantage of tax provisions, that's something we really need to pay attention to," Obama said. "Because this is all net outflows of money that could be spent on pressing needs here in the United States."

He added: "And the volume you start seeing when you see legal tax avoidance with illicit tax avoidance...this is not just billions of dollars, this may be trillions of dollars worldwide."
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http://www.businessinsider.com/obama-panama-papers-tax-reform-inversions-2016-4
 
'Redirecting Money': Why US Could Be 'Behind #PanamaPapers Leak'

The Panama Papers have caused one of the biggest financial scandals ever. Surprisingly, it did not affect any companies in the United States.

In an interview with Sputnik, journalist and financial expert Ernst Wolff commented on the issue. He argued that the Panama Papers are nothing but the US attempt "to drain certain tax havens and position itself as the new largest tax haven."

Most of the US banks, especially in federal states like Nevada, South Dakota, Wyoming and Delaware, enjoy unlimited secrecy, which is why they are often referred to as "new Switzerland".

The Panama Papers, exposing the illegal financial activities of politicians and celebrities via offshore companies, is just an instrument in the hands of the US aimed at "redirecting financial flows" to the country.

"These offshore companies are estimated to possess about 30 — 40 trillion dollars. And the United States, of course, is interested in redirecting this money to the country," the expert claimed.

Wolff also argued that the "US intelligence services" could be "behind the leak" and added that this assumption would "perfectly fit into the US' policy".

"On the one hand, it negatively affects certain tax havens: individuals and corporations will withdraw their money from there and redirect them to Nevada and South Dakota. On the other hand, there is a positive side effect: an opportunity to throw a stone in the garden of President Putin. Of course this is funny, the president himself has nothing to do with it, we are talking about some people in his community. [But] it means that someone had an interest to throw sand in someone's wheels," the expert said.
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http://sputniknews.com/us/20160405/1037533905/us-panama-papers.html
 
hawker said:
Think the ramnifications of the Panama Papers are going to continue for a loooong time still.
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Perhaps but remember wikkileaks turned out to be a bit of a damp squib....
 
PM Defends Finances Amid Offshore Fund Claims

David Cameron has denied getting any personal benefit from an offshore fund run by his father after details emerged in the Panama Papers leak.

The Prime Minister spoke after Jeremy Corbyn demanded an independent investigation into the tax affairs of Britons linked to the Panama leaks, including Mr Cameron's family.

In response to a question from Sky's Faisal Islam at an event in Birmingham, the PM said: "In terms of my own financial affairs, I own no shares.

"I have a salary as Prime Minister and I have some savings, which I get some interest from and I have a house, which we used to live in, which we now let out, while we're living in Downing Street - and that's all I have.

"I have no shares, no offshore trusts, no offshore funds, nothing like
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More at:http://news.sky.com/story/1673084/pm-defends-finances-amid-offshore-fund-claims
 
http://www.zerohedge.com/news/2016-...pers-leaker-being-soros-funded-soft-power-tax

Earlier today, for the first time we got a glimpse into some of the American names allegedly contained in the "Panama Papers", largest ever leak. "Some", not all, and "allegedly" because as we said yesterday, "one can't help but wonder: why not do a Wikileaks type data dump, one which reveals if not all the 2.6 terabytes of data due to security concerns, then at least the identities of these 441 US-based clients. After all, with the rest of the world has already been extensively shamed, it's only fair to open US books as well."

The exact same question appeared in an interview conducted between Wired magazine and the director of the organization that released the Panama Papers, the International Consortium of Investigative Journalists, or ICIJ, Gerard Ryle.

This is what Ryle said:

Ryle says that the media organizations have no plans to release the full dataset, WikiLeaks-style, which he argues would expose the sensitive information of innocent private individuals along with the public figures on which the group’s reporting has focused. “We’re not WikiLeaks. We’re trying to show that journalism can be done responsibly,” Ryle says. He says he advised the reporters from all the participating media outlets to “go crazy, but tell us what’s in the public interest for your country.”

Question aside about who it is that gets to decide which "innocent private individuals" are to be left alone, Wikileaks clearly did not like being characterized as conducting "irresponsible" journalism - and to the contrary, many in the public arena have called for another massive, distributed effort to get to the bottom of a 2.4TB treasure trove of data which a handful of journalists will simply be unable to dig through - and moments ago, on Twitter, accused the ICIJ of being a "Washington DC based Ford, Soros funded soft-power tax-dodge" which "has a WikiLeaks problem."
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So maybe I wasn't that far off the mark after all...
 
Major banks deny claims they helped clients avoid tax

International banking giants have denied allegations that they are helping clients to avoid tax by using complicated offshore arrangements.

HSBC, Credit Suisse and the Royal Bank of Scotland-owned Coutts Trustees all feature in the leaked Panama Papers.

The revelations in the papers are based on more than 11 million documents from Panama-based law firm Mossack Fonseca.

They name lenders said to have helped to set up structures making it hard for tax officials to pinpoint money flows.

They also name institutions alleged to have helped firms that were subject to international sanctions.
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More at:http://www.bbc.com/news/business-35970340
 
So what Zerohedge and wiki leaks are saying is that despite the fact that there are undoubtedly innocent people involved in all this, they still deserve to have all their private information out in the public. I find that especially funny coming from someone who works behind the pseudonym of Tyler Durden.
 
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Unhappy438 said:
So what Zerohedge and wiki leaks are saying is that despite the fact that their are undoubtedly innocent people involved in all this, they still deserve to have all their private information out in the public. I find that especially funny coming from someone who works behind the pseudonym of Tyler Durden.
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Privacy only applies to Wikileaks. Not the rest of us.
 
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