"In the case of Halliburton, as an example, they have an offshore subsidiary in the Cayman Islands. That subsidiary is doing business with Iran."

That's not possible, because Cheney good things rainbows.

slayer199: Seems a bit hypocritical for the banks to divulge this information since they directly benefited from the Cayman Islands lenient tax codes and secrecy laws.

I don't know too much about this but in Switz this used to be illegal (giving away bank account info) even if another law said you had to.

Well this oughta be good.

This *must* be the work of Leverage International.

So let's use this information and not re-elect the farkers who's names appear on the list who insist we all do our part by paying more taxes.

There is an increasing perception (probably because it is true) in society that the rich play by their own rules and the rest is left to fend for themselves.

Make no mistake, I fully support and admire wealthy folks, particularly people who worked hard, developed an idea, and became rich through their effort and labor. Even people who inherit money have nothing to be ashamed of. What is infuriating, however, are all of these illegal loopholes and practices that result in unfair taxation, protection from ordinary due process, etc. We need to tackle all of these inequalities in order to save the republic.

Anyone with a reason to hide their money overseas already got the tip off to move elsewhere. This will be pointless.

Anybody have a reputable link?

oukewldave: Anyone with a reason to hide their money overseas already got the tip off to move elsewhere. This will be pointless.

Exactly, like Singapore. Swiss and Cayman accounts were played out years ago.

Instead of guillotines, we should use wood chippers.

Mitt Romney is probably shaking in his boots right about now. A lot of people probably are. Serves them right. Their shady and insidious behavior had to be called out at some point.

zelet: Anybody have a reputable link?

What, classwarfareexists.com doesn't seem legit and objective to you? WAKE UP, SHEEPLE.

Kumana Wanalaia: Instead of guillotines, we should use wood chippers.

Oh, yah, shoor.

So, in a nutshell, they are gaming the system to hoard tax free money, all the while reducing pay and benefits to the American worker. Because...according to them "We can't afford to pay you a good wage or medical" they are sooooo broke. Um..ya. Way to fark the worker while lining your own pocket.

There are other places for financial privacy. They will get whatever money leaves the Caymans.

And Obama will try to pursue them, in his effort to make the entire world serve the aims of the USA.

But the opponents of "world government" are loony conspiracy theorists," right?

I wish something would come of this but these bastards bought all the congressmen and judges long ago so the best we'll get is a few token wrist slappings.
/bastards

In other words, the Cayman Islands will release a list of common fortune 500 companies and/or their subsidiaries.

I hate to be pessimistic, but I doubt that's going to do much to affect the status quo.

Phinn: There are other places for financial privacy. They will get whatever money leaves the Caymans.

And Obama will try to pursue them, in his effort to make the entire world serve the aims of the USA.

But the opponents of "world government" are loony conspiracy theorists," right?

Yes. Yes they are.

REDISTRIBUTE THE PROLETARIAT!

BFD. It means nothing now that we know that there are no consequences for any person/bank/corporation/entity that is "too big to fail".

Phinn: There are other places for financial privacy. They will get whatever money leaves the Caymans.

And Obama will try to pursue them, in his effort to make the entire world serve the aims of the USA.

But the opponents of "world government" are loony conspiracy theorists," right?

Your first sentence seemed reasonable. Your second sentence left me confused. Your third sentence is a cry for help.

slayer199: Seems a bit hypocritical for the banks to divulge this information since they directly benefited from the Cayman Islands lenient tax codes and secrecy laws.  I'm betting a lot of companies of individuals would not have put their money in a Cayman Islands bank if their knew such information would be divulged.

I'm not talking about the depositors and whether what they're doing was right or wrong (as that is an entirely different issue). I'm strictly talking about the banks' actions.

I'm kind of wondering the same thing. If they're not offering any sort of confidentiality, they're basically doing away with the only reason to have an account with them at all. Seems like a bad business decision for a bank that has a lot of tax evaders for clients.

/not my problem anyway
//just seems weird

Miss Stein: oukewldave: Anyone with a reason to hide their money overseas already got the tip off to move elsewhere.

True, but there will still be records of deposits and where the funds were transferred when the accounts were closed.

The HSBC list of American accounts were not released to the public. Hopefully they will be this time.

/subby

Disclosing that kind of information to the public would be detrimental to the stability of our economy.

/did I get that right?

Does this mean all the money I wired to that Cayman Islands prince might be in danger?

what I would like to see happen:



What will happen:

bukketmaster: slayer199: Seems a bit hypocritical for the banks to divulge this information since they directly benefited from the Cayman Islands lenient tax codes and secrecy laws.  I'm betting a lot of companies of individuals would not have put their money in a Cayman Islands bank if their knew such information would be divulged.

I'm not talking about the depositors and whether what they're doing was right or wrong (as that is an entirely different issue). I'm strictly talking about the banks' actions.

I'm kind of wondering the same thing. If they're not offering any sort of confidentiality, they're basically doing away with the only reason to have an account with them at all. Seems like a bad business decision for a bank that has a lot of tax evaders for clients.

/not my problem anyway
//just seems weird

Game's over. The people who set up the system and ran it for years have already extracted their money and moved on. The ones that are still around are like people who jumped into the real estate market in 2007 thinking they'd be able to flip houses for a profit every 6 months just like the big boys.

zelet: Anybody have a reputable link?

Following the sources backwards it winds up at the Telegraph citing a Financial Times article, which is behind a paywall.  Here's the Telegraph article, anyway:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9810 33 9/Cayman-Islands-to-name-previously-hidden-companies.html

Rand Paul whoring for the rich. No surprise there.

Eat the rich - 350deg @ 20 min / lb

zelet: Anybody have a reputable link?

links a plenty in TFA, specifically this one

http://www.cnbc.com/id/100388725

Phinn: There are other places for financial privacy. They will get whatever money leaves the Caymans.

Yes, but it raises the costs of being an asshole, which is the most society can ever ask for. It's not like the world will be free of scum and villainy, but we can make it as uneconomical as possible instead of rewarding people for being unpatriotic.

Switzerland was notorious for being a first-world nation that catered to the uber-rich. The nation is stable, meaning there were very few hidden costs in hiding your money there. . . that is, until they joined the rest of society in not being an aristocratic cocksucker. The Cayman Islands were the next best thing. Well, now the rich now have to dig deeper down their list of options to maintain their tax-dodging, doucebaggery ways. The next country on the list is probably a little less friendly, a little less convenient, a little less reliable and a little more expensive in terms of bribing connections. Otherwise they would've gone there first.

brantgoose: Shiat! I've got to learn to knit.

And cackle.

I'm so poor that I've run out of wool . . . I just rub my knitting needles together.

Remember you hard-working, American Patriots, it's the blacks and Mexicans destroying this country. Please please please remember that as you read I've been evading taxes for the past 20 years. Thanks.

-Rich People-

I'm a Caymanian/American. I've worked for several of these firms. I was in the offices next store to Goldman Sachs and Arthur Anderson. ONe of the firms I've worked for had a ton of Halliburton and KRB accounts.

Alot of that money is still there, sure they moved some of it to the Windwards and to Mann and a number of other offshores that have stayed in the shadows. The expression is the that sands are black in the South east Caribbean.

During the 2012 election most of these offshore areas were very pro Romney. They really didn't want FACTA to be inforced or for disclosure to ever happen. I don't know how viable their economies are now that this is all coming to pass. I love and regret this but it is as it must be.