How many pants do you think this has caused to be shat in?

[ksen]

Massive Document Leak Reveals the Hidden Offshore Wealth of the World’s Elite

A massive leak from one of the world’s top offshore services companies has exposed the hidden wealth of the world’s elite, including world leaders, politicians, businesspeople, and celebrities from more than 200 countries. The “Panama Papers” leak, which includes roughly 11.5 million documents comprising nearly 40 years of day-to-day data, came from the Panama-based law firm Mossack Fonseca, the world’s fourth-largest offshore services company and a top creator of the shell companies used by wealthy to hide their assets. Their clients, whose offshore holdings in 21 tax havens have been revealed by the leak, include 12 current and former world leaders and another 128 politicians and public officials from more than 50 countries. The documents demonstrate how Mossack Fonseca has helped its clients launder money, avoid sanctions, and evade taxes — though it’s worth noting that the company denies any wrongdoing and has never been accused of, or charged with, any crimes. Also, as the Guardian points out, not everyone who uses offshore structures is a criminal, though many are, and having or using an offshore company is sometimes a perfectly ethical and logical way to conduct certain types of international business transactions.

Especially this part:

And what about the hidden wealth of Americans? Stay tuned, apparently:

Editor of Süddeutsche Zeitung responded to the lack of U.S. individuals in the documents, saying "Just wait for what is coming next"

 

[Derec]

My money is on the Clintons being on there.

 

[ksen]

Wouldn't suprise me either.

 

[Playball40]

And the Romneys.

 

[ronburgundy]

My money is on the Clintons being on there.

Wouldn't be surprising if most members of Congress over the last 30 years were on there.

 

[JonA]

My money is on the Clintons being on there.

Wouldn't be surprising if most members of Congress over the last 30 years were on there.

I wouldn't be surprised if we never found out and nothing were ever done about it.

 

[ronburgundy]

Wouldn't be surprising if most members of Congress over the last 30 years were on there.

I wouldn't be surprised if we never found out and nothing were ever done about it.

That is the beauty of white collar crime.

 

[ksen]

Some may even say it's a feature.

 

[braces_for_impact]

Wouldn't be surprising if most members of Congress over the last 30 years were on there.

I wouldn't be surprised if we never found out and nothing were ever done about it.

If I had money to bet, this would be mine. Alas, it's off in some asshole's offshore account somewhere.

 

[arkirk]

Come on! Haven't we known about this for a long long time. When the wealth of the wealthy grows inordinately our crummy little country can't hold all that wealth. More importantly, the big boys want to make sure this crummy little country with the huge army can't tax their wealth. That is the corporate American aspect of all these fine trade deals...NAFTA, CAFTA etc. etc. The productive part of corporate America has been gone now for about 30 years. Major hotel chains have been buying up paradise and advertising it on Wheel of Fortune. Industry goes where it is cheap to operate. High rolling Wall Street types do the same thing with their money. Neither care a bit about humanity or its future. They need government regulation to make them care.

 

[Loren Pechtel]

I was thinking that the US names weren't there because we have already been cracking down for years (without regard for what local laws say--causing expats in many countries big headaches with banking. FATCA says the banks must share, local law says they can't, the only way to avoid breaking the law is to tell Americans to get lost) but today I learn it's 40 years worth of data, not just current data. Hmmm....

 

[untermensche]

Adam Smith mentions "the invisible hand" once in "The Wealth of Nations".

He uses it to describe how the area immediately around a person with a rich productive enterprise tends to become richer as well. As if by an invisible hand.

This was because the people who were made rich by the enterprise would mostly spend locally.

Transportation in Smith's day was much more strenuous and time consuming. This is pre-Industrial Revolution. Pre-trains, not to mention planes.

Wealth was not as enormous.

We are so far past this invisible hand it is absurd to talk about it anymore.

 

[Cheerful Charlie]

Adam Smith mentions "the invisible hand" once in "The Wealth of Nations".

He uses it to describe how the area immediately around a person with a rich productive enterprise tends to become richer as well. As if by an invisible hand.

This was because the people who were made rich by the enterprise would mostly spend locally.

Transportation in Smith's day was much more strenuous and time consuming. This is pre-Industrial Revolution. Pre-trains, not to mention planes.

Wealth was not as enormous.

We are so far past this invisible hand it is absurd to talk about it anymore.

A French economist at the time noted France had the best roads but little trade, and England had bad roads but much trade. Different governments, different policies, different outcomes. A bottle of wine from Bordeaux by the time it got to Paris would have 40 tolls, tariffs, and taxes paid on the way.

 

[Colonel Sanders]

Akirk already mentioned it, but it bears repeating.

Who the hell didn't know about this? And in about 4 days, no one's going to care, nothing's going to be done unless Hillary and Bill are on the list. Then look the fuck out; it's a clear, unmistakable sign that she's [take your pick of whatever possible bad thing you can think of] and will destroy America.

Off topic a bit. Why do conservative jackholes get so miffed that Bill and Hillary are wealthy but would suck the musty orange coating off Donald Trump's taint for no other reason than his wealth?