The Panama Papers | Sincere News

Panama Papers 3

A massive leak of documents exposes the offshore holdings of 12 current and former world leaders and reveals how associates of Russian President Vladimir Putin secretly shuffled as much as $2 billion through banks and shadow companies.

The leak also provides details of the hidden financial dealings of 128 more politicians and public officials around the world.

The cache of 11.5 million records shows how a global industry of law firms and big banks sells financial secrecy to politicians, fraudsters and drug traffickers as well as billionaires, celebrities and sports stars.

 

“These findings show how deeply ingrained harmful practices and criminality are in the offshore world,” said Gabriel Zucman, an economist at the University of California, Berkeley and author of “The Hidden Wealth of Nations: The Scourge of Tax Havens.” Zucman, who was briefed on the media partners’ investigation, said the release of the leaked documents should prompt governments to seek “concrete sanctions” against jurisdictions and institutions that peddle offshore secrecy.

https://panamapapers.icij.org/20160403-panama-papers-global-overview.html

Oligarchy and Crony Capitalism

Crony Capitalism: 
Is a term describing an economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, or other forms of state interventionism.
Oligarchy: 
a small group of people having control of a country, organization, or institution.
  1. “the ruling oligarchy of military men around the president”

The Influential Few and Public Opinion

Crony Capitalism: Is a term describing an economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, or other forms of state interventionism.

Oligarchy: a small group of people having control of a country, organization, or institution. “the ruling oligarchy of military men around the president” a country governed by an oligarchy. “the English aristocratic oligarchy of the 19th century” government by oligarchy.

In addition, most of this started before president Obama; about 99% of this.

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