Links Dec 14
Dec 13 - Analysis compiled by by Eurodad with input from CCFD-Terre Solidaire, SOMO, TJN Europe and Alliance Sud on the EC's released 6 December, and the two recommendations to member states on and
Top Deutsche Bank Executives Caught Up in Tax Evasion Inquiry Dealb%k
Dec 13 - More on a story linked earlier. "After a raid at Deutsche Bank’s headquarters, the company disclosed Wednesday that two of its highest-ranking executives were a focus of a tax evasion investigation, dealing a fresh blow to the German institution’s already battered reputation."
Dec 13 - "German prosecutors are investigating Deutsche Bank CEO Jürgen Fitschen. But does this mean he will be forced to step down? Probably not. The bank has survived far worse episodes in the past. Fitschen's predecessor even went to trial and still kept his job."
Outrageous HSBC Settlement Proves the Drug War is a Joke Rolling Stone Taibblog
Dec 13 - More on the story blogged here. "When you decide not to prosecute bankers for billion-dollar crimes connected to drug-dealing and terrorism (some of HSBC's Saudi and Bangladeshi clients had terrorist ties, according to a Senate investigation), it doesn't protect the banking system, it does exactly the opposite."
Another Goldman Creature Given Vital Government Post Rolling Stone Taibblog
Dec 6 - "Big news yesterday in the United Kingdom, where the citizenry surveyed its domestic banking system and discovered that it couldn't find a single person trustworthy enough to put in the top job at the Bank of England. So they went to Canada and stole that country's central banker, Mark Carney, who just happens to be a former Goldman, Sachs executive."
Global income inequality by the numbers : in history and now The World Bank
Nov 6 - The paper presents an overview of calculations of global inequality, recently and over the long-run as well as main controversies and political and philosophical implications of the findings. See comment on the Oxfam blog From Poverty to Power.
Inequality and Budget Deficits: Why is Only the Latter an Emergency? Huffington Post
Nov 24 - "I just read two sweeping reports on the state of income inequality in the U.S. (the second link focuses on state-level inequality) and other advanced economies. Perhaps it's because I've been so ensconced in fiscal cliff discussions, but I was struck by how much more alarmed policy makers are by the budget deficit than by the inequality situation."
Small businesses scope offshore locales Reuters
Dec 13 - "American small business owners of all stripes - some relocating existing ventures and others starting new ones - are considering tax-friendly locales ranging from Bermuda to Belize."
The Sky's The Limit For Asia's Philanthropy Space, Says UBS Wealth Briefing
Dec 3 - "The UBS philanthropy and values based investing team has offices in the US, Switzerland, Hong Kong and Singapore, with satellites scattered around key hubs in the world. These satellites are set up where the bank is already present." Cites the World Wealth Report (conducted by Capgemini and Merrill Lynch Wealth Management, 2010), which "found that advice on financial planning and tax aspects of philanthropy were the most demanded service of philanthropic offerings."