300 economists tell world leaders tax havens ‘serve no useful economic purpose’
More than 300 leading economists from 30 countries have today written to world leaders warning there is no economic justification for allowing tax havens and urging them to lift the veil on offshore secrecy. The letter comes ahead of the…
New Panama Papers Database: Goldman, Other Banks Abound
Facing pressure to disclose more information on how the world’s wealthiest people may be avoiding their taxes, the International Consortium of Investigative Journalists and German newspaper Süddeutsche Zeitung released on Monday a searchable database of the Panama Papers, detailing names,…
Why Corporate Criminals Are Hard To Nab
Eight years after the financial crisis blew Wall Street apart, major banks have paid out tens of billions of dollars to settle charges of wrongdoing. Yet, as politicians like Bernie Sanders regularly note, no senior-level executives have gone to jail….
“Bernie Or Bust” Has Reached A Dangerous High Point
“Bernie or Bust” is a campaign to “revolt against Plutocracy (RAP), a government of, by and for the wealthy few” according to the movement’s website. Now that may sound benign enough, until you get the upshot of it all. They…
Your Money or Your Data: 2016 the Year of Ransomware
The first wave of emotions, victims say, is a combination of panic and powerlessness. They click and reclick on files on their desktops—agendas for the weekend Christian camp, payroll data for hundreds of teachers or medical information for veterans—to no…
Bitcoin Isn’t the Answer to Central Bank Woes
Bitcoin Isn’t the Answer to Central Bank Woes Option Investing Partners – Bitcoin Isn’t the Answer Here’s a utopian image (or perhaps dystopian, depending on the point of view) to ponder: Central banks have switched from issuing money in the…
Bitcoin Goes Corporate, or at Least the Blockchain Does
“The back office in financial services is finally sexy again,” says Jim Zemlin, the executive director of the Linux Foundation. It’s not often you hear “back office” and “sexy” in the same sentence, and it may never happen again. But…
Puerto Rico Might Start Cutting Pensions To Deal With Debt Crisis
Treasury Secretary Jack Lew said Monday pension cuts are on the table for Puerto Rico to help deal with the debt-ridden island’s fiscal woes. The commonwealth – which faces a $70 billion debt burden and recently defaulted on a major…
The Titillating And Terrifying Collapse Of The US Dollar. Again.
The Titillating And Terrifying Collapse Of The US Dollar. Again. by Michael Pettis – China Financial Markets Foreign perceptions about the Chinese economy are far more volatile than the economy itself, and are spread across a fantastic array of forecasts….
China “Encourages” Economists To Be More “Positive” About The Economy
As if there were any doubts that China’s economic stats were a tad “Shady”, let those worries rest. China is reportedly issuing verbal warnings to economist, analysts and business journalists that are making less than rosy predictions for the future…