Treasure Islands

Treasure Islands

Uncovering the Damage of Offshore Banking and Tax Havens

Book - 2011
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A thrilling ride inside the world of tax havens and corporate masterminds

While the United States experiences recession and economic stagnation and European countries face bankruptcy, experts struggle to make sense of the crisis. Nicholas Shaxson, a former correspondent for the Financial Times and The Economist , argues that tax havens are a central cause of all these disasters.

In this hard hitting investigation he uncovers how offshore tax evasion, which has cost the U.S. 100 billion dollars in lost revenue each year, is just one item on a long rap sheet outlining the damage that offshoring wreaks on our societies. In a riveting journey from Moscow to London to Switzerland to Delaware, Shaxson dives deep into a vast and secret playground where bankers and multinational corporations operate side by side with nefarious tax evaders, organized criminals and the world'swealthiest citizens. Tax havens are where all these players get to maximize their own rewards and leave the middle class to pick up the bill.

With eye opening revelations, Treasure Islands exposes the culprits and its victims, and shows how:

*Over half of world trade is routed through tax havens

*The rampant practices that precipitated the latest financial crisis can be traced back to Wall Street's offshoring practices

*For every dollar of aid we send to developing countries, ten dollars leave again by the backdoor

The offshore system sits much closer to home than the pristine tropical islands of the popular imagination. In fact, it all starts on a tiny island called Manhattan. In this fast paced narrative, Treasure Islands at last explains how the system works and how it's contributing to our ever deepening economic divide.

Publisher: New York : Palgrave Macmillan, 2011.
Edition: First edition
ISBN: 9780230105010
0230105017
Branch Call Number: 364.1338 Sha
Characteristics: 264 pages

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StarGladiator
Jun 01, 2012

Perplexed by BREXIT?
Why have the money masters and corporate media demonized any and all who have supported it - - and voted for it? [Why did President Obama specifically fly to London to stand beside their Prime Minister and urge them to vote against it?]
Really quite simple: read pp. 67 to 83 of Shaxson's Treasure Islands, and you will understand perfectly!!!!
[What is the oldest continuing corporation in the Western Hemisphere, and what most peculiar deal did they strike with the British Royalty? Answer: The City of London Corporation!]

g
gramsci
Jun 24, 2011

A very engaging account of the political economic devastation wrought by the unregulated banking system that continues to expand.

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