That might be the reason for all that dead silence on the major media outlets. They're taking time to find out just how bad this is going to get.

Since it's been front page news in a lot of the EU, I rather think it's going to be tough to sweep under the rug, not even with a dumbed down country.

will be on such a list, you haven't been paying attention.

Corruption in DC is bipartisan, and I guarantee that both parties will be well represented.

and there are a few Democrats I'd expect to be on it, also. They're likely to be outnumbered, though, and none of them will be found unless the DOJ gets religion and raids that Nevada office and looks for them.

Hope folks also realize this is just ONE firm of many around the world that do this kind of work.

I know that it is an astounding amount of money which has been and continues to be hidden in offshore secret banking accounts - Panama, Belize, Singapore, Cayman Islands, Isle of Jersey, Lichtenstein - seems like an endless number of jurisdictions cater to dirty money.

The Financial Times' Nicholas Shaxson wrote an amazing expose, "Treasure Islands", a few years back, but I think I was the only person who read it.

Not showing up here, doesn't mean one isn't playing the tax shelter (or worse) game.

I said on Sunday that this is one thread. If they bother to tug on it, a lot of other stuff will start to unravel.

Some of those guys use individual lawyers instead of offshore investment houses. Those are the ones who are most likely to escape.

were they involved or ? Thanks

That's the expedient answer.

I suppose they refused to redact info, but I would think there'd be a bigger time delay.
This would have been interesting data back when MMS was still in operation prior to the BP Oil spill in the gulf. That department was a revolving door before it was shuttered.

I'm not surprised to see the DoJ might have some in it too.

or that they were part of the game? I don't see how they could have enough money to need to hide it unless they were somehow shaking people down for cash. But that they wouldn't hide info for powerful people might be enough reason.

Those people go in and out of government positions all the time. MMS was the example that the agency was so obviously corrupt, it was shuttered and replaced entirely.

To be clear, I think they are implicated, directly. Probably not criminally, just very 'inconvenient'.

a place lobbyists would move into. Interesting. Thanks

the DoJ is the 9th most populous agency habitat for former lobbyists.
http://www.opensecrets.org/revolving/top.php?display=G

the Putin angle. Look they're all thieves

I know we have said things like this over the years ... but... This seems really, really big.

And they are not the largest.

I am not sure I understand any of this.

Panama has very strong corporate secrecy laws. They used to have banking secrecy there as well. That is pretty much over. Panama's banks are pretty transparent at this point. The corporate secrecy laws remain.

A lot of Panamanian lawyers offer services to create what they call "foundations" and other corporate entities. I think the going rate for a basic foundation is $2000. For that amount, you can create a company and then open a bank account anywhere in the world under that entity and deposit money in that account, conduct transactions, buy shares of stock, etc. No one will be able to find out that you own that company.

These offshore companies have been created for going back 50+ years now.

The allegation is that the 2011 Panamanian trade agreement between the US and Panama somehow made this worse. And since Hillary was our top diplomat, she is responsible for that agreement.

The first thing you have to know is that there is no connection between trade and being able to set up one of these companies and using a bank in, lets say, the Caribbean or Liechtenstein or Switzerland, which is what these companies do now. The 2011 agreement had no impact at all on the creation of these companies.

Some folks are making the charge that the agreement makes it more difficult for the US to try to demand Panama change anything regarding its commerce, banking, financial or other corporate laws. Fact is, the US has been trying to get Panama to change those laws for 40-50 years without success.

The other thing is, do we want the US bullying other countries to change laws that the populace of those countries are happy with? Don't we generally regard that as a bad thing, aside from of course, discrimination laws and the like. Neither Panama, nor anyone else is responsible for American or European or any other people using legal entities in Panama as cover for evading taxes in their own countries. Nor does having one of these entities require you to do so.

thanks that explains a lot

They come from people who think the Clintons are rich, therefore they must be crooks, therefore they will be represented in the Panama Papers. The argument is a false one since their loot can be traced to book sales and speaking fees and business deals that have already been investigated to death.

If their names do pop up (unlikely), then the fallout will commence. For now, just roll your eyes and move on.

If it does, then they're not only corrupt, they're stupid. But that is highly unlikely.

This is going to ensnare a SHITLOAD of republicans though, you watch.

I know I read in a Wiki type page on FB that the papers were released to corporate media who probably omitted any implications of US officials involved in tax evasion. Anyone find some info on this?

This is just one law firm's data. It doesn't have any, but some of the others do. More data incoming, it seems.

Edit: Yep, see post 26.

We've only seen the iceberg in the distance so far.

he is credible. But welcome to DU

yeah, im new to this site. sounds like i can learn a lot

welcome to DU

or true one, that exists for the Obama's.

Nothing.

Nada.

Zilch.

Nothing at all.

They considered him a fraudulent President from day one.

Those folks use JP Morgan Chase, Goldman Sachs and the Rothschild's operation for this stuff.