Creating far-off places to hide money, with few questions asked
WASHINGTON — The international law firm for offshores treated Michael Alfred Del Vecchio like a VIP. In just a few years, the retired U.S. Air Force officer’s clients had become a growing source of business for Mossack Fonseca, one of…
Panama Papers: The Lowdown On Mossack Fonseca
Mossack Fonseca was founded by Jürgen Mossack in 1977 and joined by Ramón Fonseca in 1986. Both were men of international pedigrees and backgrounds in the worlds of money, power and secrets. “Together,” Fonseca allegedly said to a journalist after…
New Numbers Out of Tea Party-Loving Kansas Destroy Entire GOP Economic Platform
In case you weren’t aware, the state of Kansas and Governor Sam Brownback have been sort of the “model” for utopian, tea party Republican economic policies. In 2012, Brownback passed huge tax cuts that he guaranteed would lead to tremendous…
It’s WAR: WikiLeaks Accuses Panama Papers Journalists Of Being Funded By Private Interests
WikiLeaks Criticizes Handling Of Panama Papers Leak The Panama Papers are the biggest data leak in history, but not everyone agrees with the way the information is being handled. Specifically, the pro-transparency website WikiLeaks have been critical of the decision…
Barclays Teams Up With Bitcoin Firm Circle
The partnership between Barclays and social payments app Circle, which is partly run on Bitcoin, is the first time a major UK bank has got involved in the digital currency. The UK Treasury called the deal a “major milestone” in…
Dispelling the Myth That Bernie Sanders Doesn’t Know How To Break Up Big Banks
(Photo by Chip Somodevilla/Getty Images)by Mike Conczal Bernie Sanders gave some fairly normal answers on financial reform to the New York Daily News editorial board. Someone sent it to me, and as I read it I thought, “Yes, these are…
Break Up The Big Banks – Minneapolis Fed Symposium
Richard X. Bove, Vice President Equity Research at Rafferty Capital Markets, discusses Minnesota Federal Reserve’s Symposium on “Too Big To Fail” (TBTF) banks. Break Up The Big Banks – Minneapolis Fed Symposium Absurdity Made Large The Federal Reserve Bank in…
Leaked Documents Spark Interest From US Government
U.S. law enforcement is taking a keen interest in the so-called Panama Papers. The document trove, a 40-year cache of communications and files from Panama City-based international law firm Mossack Fonseca, details how various heads of state, their friends and…
Cyprus starts working week out of bailout
Cyprus has kicked off the working week standing on its own two feet. Its EU bailout has officially finished, as it bounces back from financial turmoil that tore through the heart of its banking sector. It did not require the…
IMF Greek deal far off as talks roiled by leaks
INTERNATIONAL Monetary Fund (IMF) Managing Director Christine Lagarde rebuffed Greek government calls to replace top officials overseeing the country’s bailout and said the IMF is a good distance away from an agreement that would allow for additional loans to Europe’s…