The Panama Papers - What we already knew about the rich and powerful

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http://panamapapers.sueddeutsche.de/en/

http://www.bbc.com/news/world-35918844

Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca.

They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.

The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

The documents show links to 72 current or former heads of state in the data, including dictators accused of looting their own countries.

Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.

"I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents," he said.

Will anything actually come of this?
 
By which they will get a light tap on the wrist and everything will go on as normal.
 
I wonder if The Hague will get involved?
 
It'll be interesting to see what the legal repercussions of this are. My prediction? They'll just ignore it
 
Will anything actually come of this?
It'll be interesting to see what the legal repercussions of this are. My prediction? They'll just ignore it
Besides the phony firm being shut down in Panama City (and Vegas, Nevada) and some underling who they dump the blame on and will charge with mishandling accounts, most of these real criminals (and their inheritors) have so much money they are untouchable.

Documents reveal secret companies linked to the families and associates of...
Gaddafi (Libya)
Assad (Syria)
Mubarak (Egypt)
Associate of Putin (Russia)
Prime Minister Sigmundur Gunnlaugsson (Iceland)

They also operate out of Vegas, Nevada, under the name of M.F. Company Services, (just subpoenaed) so although not revealed yet, expect some high profile wealthy Americans doing some "offshore account" tax evasion too.
 
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I hear this is causing a big fuss in Iceland because the PM was exposed to be one of the people involved.
 
It's a shocking coincidence that thus far only enemies of the US are implicated.
 
It's a shocking coincidence that thus far only enemies of the US are implicated.

One of the papers involved implied that more is coming when it comes to America.
 
It's a shocking coincidence that thus far only enemies of the US are implicated.

This will be played out over the next few months. Newspapers will not give up all their most juicy stories on the first day.
 
Pardon my cynicism guys, sometimes I can't help myself.

If this is a CIA operation, it will mostly implicate enemies of the US, as well as anti-establishment types within the USA. People who rock the boat.
 
It's a shocking coincidence that thus far only enemies of the US are implicated.
As the saying goes, "save the best [worst] for last" where in this case I can expect a lot of America's richest to be among the most corrupt.
 
Iceland PM: “I will not resign”

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Iceland’s Prime Minister has announced on live television that he will not be resigning in the wake of last night’s Panama Papers revelations.

In a special interview with Icelandic TV station Stöð 2, Sigmundur Davíð Gunnlaugsson defended the record of his government and said that the people will be able to judge his government at the next general elections.

The PM maintains that there was “nothing new” in the information released yesterday and that he has given a full account and explanation of his and his wife’s business dealings.

He did, however, apologise to the Icelandic people for his “poor” performance in a recent television interview on the subject.

Gunnlaugsson is adamant that the mass demonstration planned for this afternoon in Reykjavik will not change his decision to stay on as Iceland’s PM.

The number of declared attendees on the Facebook event page for the protest is approaching 9,000.

http://icelandmonitor.mbl.is/news/politics_and_society/2016/04/04/iceland_pm_i_will_not_resign/
 
I saw this as the top story on Reddit yesterday when it broke, not one peep from anyone on Bookface yesterday either. I did see lots of TWD post though. #'Merica!
 
Folks in Iceland, (literally the whole nation :o) rallying for their PM to resign due to the Panama Papers.

1Me2ETX.jpg
 
I saw this as the top story on Reddit yesterday when it broke, not one peep from anyone on Bookface yesterday either. I did see lots of TWD post though. #'Merica!
To be fair the news broke late for the United States and is now trending all over the place.
 
The PM of Iceland just stepped down.

I doubt a lot of other public officials in other countries would follow suit if incriminated. One can dream though...
 
Russia I doubt is going to see much of an impact. I'm kind of surprised Iceland's PM stepped down.
 
theguardian
- David Cameron left dangerously exposed by Panama Papers fallout failing to provide a clear and full account about links to an offshore fund set up by his late father, as the storm over the Panama Papers gathered strength in both the UK and elsewhere around the world.

The prime minister and his office have now offered three partial answers about the fund set up by his father Ian, which avoided ever paying tax in Britain

While the rich hide their money and "earnings" Tax paying people want answers.


theguardian
Revelations that the president of the United Arab Emirates, Sheikh Khalifa bin Zayed Al Nahyan, has secretly built one of the single biggest offshore property empires in Britain, owning dozens of central London properties worth more than £1.2bn through offshore companies supplied by Mossack Fonseca.

The US president said the leak from Panama illustrated the scale of tax avoidance involving Fortune 500 companies, running into trillions of dollars worldwide.

Only about 200 US citizens have been identified so far in the leaked data,...

Only :funny:

LOL!

The president told reporters at the White House that many of the loopholes come at the expense of middle-class families

No sht! it come at the expense of middle-class families.
And wtf do they mean loopholes. If I don't pay my taxes it's a crime.
How come for them it's described as they had a "loophole".
They are already finding ways out for them, defending these criminals, to say it's a problem with the system, not the the actual Tax evaders. I'm sick of the notion that for the rich, banks and the corporation's level of money it's a different set of rules and laws.
 
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Documents reveal secret companies linked to the families and associates of...

Gaddafi (Libya)
Assad (Syria)
Mubarak (Egypt)
Associate of Putin (Russia)
Prime Minister Sigmundur Gunnlaugsson (Iceland)
List grows:
president of the United Arab Emirates, Sheikh Khalifa bin Zayed Al Nahyan
Pakistan’s prime minister,
the president of Ukraine,
Argentina’s president,
six members of the UK’s House of Lords,
the king of Saudi Arabia,
eight families associated with the supreme ruling body in China
dozens of Brazilians (lol unspecified)
 
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The PM of Iceland just stepped down.

I doubt a lot of other public officials in other countries would follow suit if incriminated. One can dream though...
Iceland is a relatively speaking small nation, they can get on top of their public officials and make them accountable. .
Thing is the biggest law firms and wealthiest banks in the world help them do this.
So the higher up it goes, the wealthier the nation, the more untouchable it's criminals are.

Remember the HSBC(one of the four major clearing banks in the United Kingdom) scandal.
They helped launder money not only linked to terrorists, but to major drug cartels.
They were untouchable, literally they were to rich to jail, meaning if they pursued them suposedly the global economic system would be affected. http://www.theguardian.com/commentisfree/2012/dec/12/hsbc-prosecution-fine-money-laundering
 
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If you're wondering who to trust as far as speaking the truth on this.
Who called it 5 years ago as it was being set up check - Bernie Sanders back in 2011!

https://www.youtube.com/watch?v=u0mAwRAFC2U
[YT]u0mAwRAFC2U[/YT]

If you want to get on top of this like Iceland.
Check all your representatives (Republican & Democrat) who signed for this imaginary "trade agreement". That benefited nobody but big money.
And MAKE SURE they explain why they signed for it, or step down.
Because there is two reason they voted for it. Either they had money in it already, or they accepted campaign money from someone who did.
And that is why they voted for it.

Side note, Panamanian citizens were not benefiting from this in any way, I've seen (not here) some rhetoric rising against Panamanians. Amurika:doh:
This was not a legit trade agreement.
These are political arrangements with bankers and lawyers Jürgen Mossack(German) Ramón Fonseca(The Panamanian ally) set up in Panama City, Panamanian citizens got nothing from this, are just as much victims.
 
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