SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?


To: tejek who wrote (52743)3/30/2009 12:33:41 AM
From: koan  Read Replies (1) | Respond to of 149317
 
I always knew that is what people would find if they looked. Obama should go to the universities and hire about 10,000 accountants to go find all those ill gotten gains.

And Congress should ask Wall Street about those off shore accounts. Over 50% of all hedge funds are registered offshore and we John q Public are now paying for their gambling.

>>
The more I read the angrier I get!

AIG is chump change -- let's find corporate America's hidden billions

It's time to reform offshore banking, and see what untaxed wealth big business is hiding in overseas tax shelters.

By Joe Conason

But what reason other than evasion could there be for Goldman Sachs Group to set up three subsidiaries in Bermuda, five in Mauritius, and 15 in the Cayman Islands? Why did Countrywide Financial need two subsidiaries in Guernsey? Why did Wachovia need 18 subsidiaries in Bermuda, three in the British Virgin Islands, and 16 in the Caymans? Why did Lehman Brothers need 31 subsidiaries in the Caymans? What do Bank of America's 59 subsidiaries in the Caymans actually do? Why does Citigroup need 427 separate subsidiaries in tax havens, including 12 in the Channel Islands, 21 in Jersey, 91 in Luxembourg, 19 in Bermuda and 90 in the Caymans? What exactly is going on at Morgan Stanley's 19 subs in Jersey, 29 subs in Luxembourg, 14 subs in the Marshall Islands, and its amazing 158 subs in the Caymans? And speaking of AIG, why does it have 18 subs in tax-haven countries? (Don't expect to find out from Fox News Channel or the New York Post, because News Corp. has its own constellation of strange subsidiaries, including 33 in the Caymans alone.)

salon.com;