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This came out of nowhere… April 4, 2016

Posted by WorldbyStorm in Uncategorized.
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The Panama Papers lift the lid on how offshore companies are used by the global elite to conceal the ownership and control of assets and property worth billions.

If accurate it could spell real trouble ahead for some. It will be perhaps educative to see what truth there is in some of what is being reported today.

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1. Michael Carley - April 4, 2016

I’ve had a look and can’t find them online. Is there any way to search them?

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Aonrud ⚘ - April 4, 2016

Wikileaks are still debating releasing them en masse, from what I can see, so they’ve only been released to journalists so far, similar to the Snowden approach.

Interesting list of named individuals here: https://en.wikipedia.org/wiki/List_of_people_named_in_the_Panama_Papers

I wonder will anything come of the Cameron connection?

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Michael Carley - April 4, 2016

It turns out that the media outlets are drip-feeding the information, for obvious reasons, but you can look up the names which have been released so far, by country:

https://panamapapers.icij.org/the_power_players/

None from Ireland (yet?).

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Aonrud ⚘ - April 4, 2016

Oops. Saw Wikileaks on Twitter asking whether they should all be released, so assumed they had that option. It also looks like Australia have access to more than has been generally released.

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2. CMK - April 4, 2016

There’s a ‘bear s**ts in the woods’ quality to the whole thing. It’s good to get the documents out there but I understand they are not released in a searchable format and are been held by national newspapers for release. The IT are the franchise here. If it keeps Frank Flannery off the air waves from now on, that will be a big win! He’s on the radio or the TV nearly every time I switch them on.

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3. Roger Cole - April 4, 2016

Who are the “some” you are talking about? Nicholas Shaxson’s book Treasure Island was published in 2011 and nothing happened. A decisive majority of the Irish people have just voted for FG/FF/Labour and right wing independents and NATO ships are in Dublin. Ireland is just as committed to the neo-liberal militarist agenda as it was before the election, on top of that the latest poll showed the clear majority want FF to provide the next Taoiseach. The “some” have no problems at all.

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4. Gewerkschaftler - April 4, 2016

Yes, kudos to the Süddeutsche Zeitung – who got the massive leak (2.6 Terabytes!) and kept the lid on I think for nearly a year while sharing the data.

I’m not as dismissive as some about this – yes it’s ‘is the Pope a catholic’ territory as far a capitalism goes, but it has the potential to weaken a lot of politicians and oligarchs against possible uprisings by their people.

So far we have Russia, Iceland, Malaysia, Pakistan, Saudi Arabia etc. etc.

This will be drip fed and can’t be stopped.

Cameron’s dear papa features.

I’d love to see some Irish names exposed there and it would be manna from heaven if the Clintons feature.

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Gewerkschaftler - April 4, 2016

If you’re going to read a liberal as opposed to a leftish paper from Germany the Süddeutche is by far the best, IMO.

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gendjinn - April 5, 2016

Impressive crowd in Iceland. Seems to have done the job.

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5. Gewerkschaftler - April 4, 2016

Whatever the short-term effects, it’s going to be a treasure trove for historians of neo-liberal capitalism and how it worked behind the scenes – hopefully looking back in academic comfort after the downfall of same.

The meta-data goes back 40 years to 1980.

I’ve a nasty feeling this is a different subset of criminal capitalism – mainly with a City of London / British Empire leftovers / Luxemburg / Switzerland axis, and the US/Irish pig-sty will be relatively unilluminated.

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6. Gewerkschaftler - April 4, 2016

David Cameron’s father ran an offshore fund that avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents – including a part-time bishop – to sign its paperwork.

Ian Cameron was a director of Blairmore Holdings Inc, an investment fund run from the Bahamas but named after the family’s ancestral home in Aberdeenshire, which managed tens of millions of pounds on behalf of wealthy families.

Phnarf.

Blairmore – was that a deliberate naming, or pure coincidence?

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Gewerkschaftler - April 4, 2016

OK – I didn’t read that very carefully. But, bingo, here’s a mention of Ireland:

In 2012, in response to wider industry trends away from offshore, Blairmore moved residence from Panama to Ireland, which means it is now regulated in Europe.

New slogan for the IFSC:

Switch to the new Panama, where even fewer questions will be asked!

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WorldbyStorm - April 4, 2016

All too likely.

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7. Tomboktu - April 4, 2016

I wouldn’t have said it came out of nowhere.

Whatt it does is partly answer the ‘who’ question that follows the excellent answer to the ‘what’ and ‘how much’ questions that Gabriel Zucman answered in his book The Hidden Wealth of Nations (which is much more accessible than the tome by his PhD supervisor that also has a title which plays with the title of a classic work, Piketty & Capital in the Twenty First Century).

The risk now is that we’ll pursue these named individuals and this specific haven, and not deal with the systematic structures that Zucman identifies.

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8. Michael Carley - April 4, 2016

Any chance of #dublinpapers?

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9. Gewerkschaftler - April 5, 2016

Some reports in the Irish Times, I see. I can’t help thinking that they are hamstrung compared with others in the consortium by

a) The most punitive anti-whistleblower libel laws in Europe

and

b) Lack of funds / investigative journalists.

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10. Ed - April 5, 2016

An article worth bookmarking for future reference: John McTernan is a former adviser to Tony Blair who gets plenty of space in the Tory press for his anti-Labour diatribes. Now, he weighs in over the Panama Papers to describe tax dodging by the elite as ‘an expression of basic British freedoms’, laughing describing the spivs and oligarchs who’ve been exposed to plain sight as ‘workers’ who just want to ‘keep a little more of their money’. It’s worth lingering over every word to get a sense of quite how extreme, fanatical and utterly out of step with public opinion the Blairite ultras actually are; I wouldn’t say that argument would wash with most Telegraph readers, never mind anybody else. No wonder this guy hates the current leadership of the Labour Party so much.

http://www.telegraph.co.uk/news/2016/04/05/tax-avoidance-is-an-expression-of-basic-british-freedoms/

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