Links Sep 6

Tax Havens: Heart of the international financial system V7Inter (In Spanish)
Sep 1 - Interview with Jorge Gaggero - explains how core countries speak constantly on combating money laundering and funds of dubious origin, but maintain and guarantee structures for tax evasion and illegal money laundering. Cites TJN.

Tax Justice And What It Would Mean For The Bahamian Economy Bahamas Tribune
Sep 5 -  A good article on TJN and other research, adressing issues of inequality. Points to "the unintended social consequences of widening income gaps ... We can see these consequences playing out before our eyes in the Bahamas."

See also:
Bahamas Urged: 'Look Outside' Financial Sector On Brazil, Asia Bahamas Tribune
Jun 20 - Commenting on "the Bahamas' strategy of targeting Asia (chiefly China and India) and Brazil as key markets for its financial services industry to move into" - and encouraging change - "We have to convert interest in having entities establish the operational side of their business, or a physical presence, in the Bahamas."

The revolt of the elites, revisited Treasure Islands
Sep 5 - Nick Shaxson on a "superb article by veteran U.S. Republican Mike Lofgren ... It fits with everything I wrote about in Treasure Islands: about how an increasingly offshore-steeped, rootless global élite has become detached from society."

Mitt Romney's tax avoidance weakens bonds of American society Guardian
Sep 4 - "If politicians and those around them do not pay their fair share of taxes, how can we expect that anyone else will?"

Switzerland pays the price for banking secrecy swissinfo
Aug 30 - "Attacks from European governments, investigations against Swiss banks in the United States and international arrest warrants against bankers - in the space of just a few years, banking secrecy has turned into a costly burden..."

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Future challenges tax Swiss bankers swissinfo
Sep 4 - "... the still unresolved tax evasion dispute is hanging over the industry like a dark cloud"

A word about banks and the laundering of drug money Golem XIV
Aug 18 - "Dig deep enough and you’ll find the names of politicians, senior ones and find yourself meeting some of the people who make sure the truth of such matters does not come out and whose job it is to protect the guilty and do their dirty work."

Is banking losing its appeal? ft alphaville
Sep 3 - Discussing whether the incentive structure in the profession of banking is rebalancing.