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There Will Be A Huge New 'Panama Papers' Data Dump (businessinsider.com)

An anonymous reader writes: The International Consortium of Investigative Journalists said in an email that on May 9 it would "publish what will likely be the largest-ever release of information about secret offshore companies and the people behind them," based on data from the Panama Papers investigation. "The searchable database will include information about more than 200,000 companies, trusts, foundations, and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States." The ICIJ said in the email, "The impact of Panama Papers has been epic." The investigation has caused Icelandic Prime Minister Sigmundur David Gunnlaugsson to resign following revelations about his personal finances. It has caused Putin to point fingers at the West, accusing the U.S. of trying to weaken Russia. It has even created drama in the UK with calls for Prime Minister David Cameron to resign after his connections to offshore companies became evident. In addition, the ICIJ said, "[The Panama Papers investigation] sparked a new sense of urgency among lawmakers and regulators to close loopholes and make information about the owners of shell companies public."

110 comments

  1. Possibly largest text coherent collection ever by Alomex · · Score: 4, Funny

    largest-ever release of information about secret offshore companies and the people behind them

    Actually there is so much data that this is possibly the largest release of a coherent text collection of any kind, secret or not.

    1. Re:Possibly largest text coherent collection ever by EmperorArthur · · Score: 4, Funny

      And 90% of it is boilerplate legalese. I'll bet it compresses rather nicely.

      --
      So lets pretend that we've just completed writing this code, as opposed to having just completed sabotaging it -Altera
    2. Re:Possibly largest text coherent collection ever by Anonymous Coward · · Score: 0

      Compressed legalese lumps serve perfectly to grill veggies, fertilize fields, make perfumes, etc

  2. "The impact of Panama Papers has been epic." by Anonymous Coward · · Score: 5, Interesting

    Ha, I'll believe it when I see it. If they're wealthy enough to take full advantage of these tax havens then they're wealthy enough to escape repercussion.

    1. Re:"The impact of Panama Papers has been epic." by Anonymous Coward · · Score: 0

      Pretty much this.
      It has claimed but one person. And even then, claimed is a stretch.
      It caused a countries leader (David Shameron) to change his opinion about 7 times in one week. Big fucking deal.

      The rich ARE power. They control everything.
      There is only one way to stop that.
      It ain't pretty, and everyone else will likely still lose than the greedy elite succumbing to "poor trash"

  3. Including John Kerry's accounts? by Anonymous Coward · · Score: 2, Interesting

    Surprise, surprise, surprise!

    John Kerry is dirty

    1. Re:Including John Kerry's accounts? by Anonymous Coward · · Score: 0

      Could you link to the Washington Post version of this story?

      I'm sure they are giving this it's due coverage.

    2. Re:Including John Kerry's accounts? by Anonymous Coward · · Score: 0

      Surprise, surprise, surprise!

      John Kerry is dirty

      From TFA: A DCNF investigation has confirmed that the former Massachusetts Democratic senator and his billionaire wife, using an elaborate set of Heinz family trusts, have invested “more than $1 million” each

      ONE million? Seriously? They are poorer than I am.

    3. Re:Including John Kerry's accounts? by Anonymous Coward · · Score: 0

      Finance guy here. The results I saw on google were sensationalist and not really informative. Authors I saw seemed like they didn't understand modern finance.
      Real question is did he declare / pay taxes. If taxes are paid, then it's not really a big deal.

      I donate to ICIJ, so I'm not that biased - just want real reporting and not bs.

    4. Re:Including John Kerry's accounts? by Paradise+Pete · · Score: 1

      Seriously? They are poorer than I am.

      You have a billionaire wife?

    5. Re:Including John Kerry's accounts? by Anonymous Coward · · Score: 0

      He has two billionaire wives.

    6. Re: Including John Kerry's accounts? by Anonymous Coward · · Score: 0

      That's so true. Most people don't Understand international tax treaties and how it's possible to pay 3% tax or less legally.

  4. Cool by inode_buddha · · Score: 2

    Cool, it can't happen soon enough. The trilateral Commission needs their dirty laundry aired so us regular people have a chance in life.

    --
    C|N>K
    1. Re:Cool by Anonymous Coward · · Score: 0

      These types of dumps are organized by a handful of the elites in order to damage their opposition. They're just as guilty, but their names are either filtered from the dump, or they deal with Cayman islands instead of Panama.

    2. Re:Cool by Applehu+Akbar · · Score: 0

      "These types of dumps are organized by a handful of the elites in order to damage their opposition."

      Oooh, a metaconspiracy, a plot perpetrated by your rival conspiracy theorists. Protip: keep your pit bull feed on the top of your least leaky slideout, or skunks will nest under your doublewide.

    3. Re:Cool by Anonymous Coward · · Score: 0

      Look into who is funding the research by "journalists" who have access to these documents. Hint: It's a bunch of bankers, like Rockefeller, et. al. Seriously, go do it, you'll see that it's a war between foreign banks and US / Jewish owned banks.

      All Wars are Banker Wars

    4. Re:Cool by Anonymous Coward · · Score: 0

      I keep telling you, ./ is turning into the "new' John Birch Society

      let the meta-conspiracies roll until we are all fucking bat-shit crazy

    5. Re:Cool by Anonymous Coward · · Score: 0

      Yeah, powerful people 'leaking' documents that damage their opponents is god damn straight out of fantasy. Never ever happened before, and it makes no sense at all why anyone would want to do it.

    6. Re:Cool by Hartree · · Score: 1

      " meta-conspiracies roll until we are all fucking bat-shit crazy"

      Until?!?!?! You're talking about Slashdot?

      Where the hell have you been for the past 18 years?

    7. Re:Cool by dave420 · · Score: 1

      Hint: If you ever are asked to back up your position with evidence, linking to a YouTube video is not the best way to do it. I see you favour believing you are right more than actually being right. I weep for your future.

    8. Re:Cool by Anonymous Coward · · Score: 0

      It has been alleged that this seems very much like the work of a state sponsored agency, potentially Russian. The idea being that although allegations come out about Putin it is nothing that hasn't already been floated around at depth. However, there seems to be a real lack of Western rich folks that have been unveiled thus far. Therefore the presumption is that potentially Putin has the full data including the rich Western folk, and possibly more politicians, and can therefore turn the screws on them at will.

    9. Re:Cool by OakDragon · · Score: 1

      Are we finally gonna get to the (slavering) DIRTY AMERICANS?!!

    10. Re:Cool by EricTDuckman1414 · · Score: 1

      Look into who is funding the research by "journalists" who have access to these documents. Hint: It's a bunch of bankers, like Rockefeller, et. al. Seriously, go do it, you'll see that it's a war between foreign banks and US / Jewish owned banks.

      All Wars are Banker Wars

      Another hint: don't use the words "Jewish owned banks" if you want to keep your antisemitism secret.

    11. Re:Cool by sabbede · · Score: 2
      The Trilateral Commission? Really?

      Your tinfoil hat is about 40 years out of date.

    12. Re:Cool by inode_buddha · · Score: 1

      :D looks to me like their work is still ongoing, in the form of the 1% and the illuminati

      --
      C|N>K
    13. Re:Cool by sabbede · · Score: 1

      Did you just sincerely reference the illuminati? Forget what I said before. Your hat is 400 years out of date. Might as well blame it all on witchcraft or ghosts.

    14. Re:Cool by inode_buddha · · Score: 1

      Dunno about witches or ghosts, but the Rothschilds have been around a while... seriously, read the link, somebody did their homework. Its spooky how things are being manipulated.

      --
      C|N>K
    15. Re:Cool by sabbede · · Score: 1

      Apophenia.

  5. Sad truth: No Jail Time or RICO confiscation by WillAffleckUW · · Score: 5, Insightful

    The sad truth is those "punished" for tax avoidance so far in the UK (the PM), Canada (a number of families using UK offshore tax havens), and Africa have mostly ...

    Not ... Gone to jail.

    Or suffered any real penalty other than paying, without excess interest owing, the taxes they avoided.

    What we need here, other than a few quick drone strikes until they all pay up, are RICO triple damage confiscations, including trust funds for kids and houses and yachts, and JAIL TIME.

    Which has not happened so far.

    --
    -- Tigger warning: This post may contain tiggers! --
    1. Re:Sad truth: No Jail Time or RICO confiscation by inode_buddha · · Score: 2

      This X 1000. Jail time is the only thing that makes some people slow down and think.

      --
      C|N>K
    2. Re:Sad truth: No Jail Time or RICO confiscation by wardrich86 · · Score: 5, Funny

      Assuming some of these people are the same people making profit off of privatized jails... would they actually make more money by throwing themselves in jail?

    3. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      "offshore" "tax havens" are typically used BECAUSE THEY ARE LEGAL... whether it's an individual or a big corporation like apple or microsoft.... THAT IS WHY THEY DO IT.. because they can, and because it's LEGAL. public corporations have the added obligation of 'maximizing shareholder value' and you do that by reducing your costs (taxes) as much as possible.. and that means utilizing all the legal tools and resources available, regardless of country.

      now i'm sure that some of the data to be released will detail illegal transactions and such.. but the majority of the persons and businesses (we're talking the 'non drug dealer' and 'non terrorist' types) will be legal transactions and accounts for which the public has absolutely no business knowing anything about.

    4. Re:Sad truth: No Jail Time or RICO confiscation by JoeMerchant · · Score: 2

      The problem is that the laws (written by lawyers and legislators, many of whom use these vehicles of financial obscurity) are written with relatively little penalties in them.

      Sure, the law says you must pay your taxes, but there's no penalty clauses in there for doing the kinds of things that the lawmakers themselves are engaged in.

    5. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      People who commit crimes don't think they are going to jail because they don't think they are going to get caught. No one actually sits around comparing the benefit of their crime to the amount of time they will need to do.

    6. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 1, Interesting

      "offshore" "tax havens" are typically used BECAUSE THEY ARE LEGAL... whether it's an individual or a big corporation like apple or microsoft.... THAT IS WHY THEY DO IT.. because they can, and because it's LEGAL. public corporations have the added obligation of 'maximizing shareholder value' and you do that by reducing your costs (taxes) as much as possible.. and that means utilizing all the legal tools and resources available, regardless of country. now i'm sure that some of the data to be released will detail illegal transactions and such.. but the majority of the persons and businesses (we're talking the 'non drug dealer' and 'non terrorist' types) will be legal transactions and accounts for which the public has absolutely no business knowing anything about.

      This is pure FUD and propaganda, and it has been debunked many times by actual Wall St. economists with publications and degrees to their name. Once again, it is pure FUD and propaganda.

    7. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 2, Informative

      AND? How is 'tax avoidance' a crime? I'm not talking about 'outright lying' on a tax return but moving money in such a way as to minimize the tax paid...people do this ALL the time. I haven't outright moved money but I look for every legal angle to reduce my tax bill, does that make me a 'bad person'? A 'criminal'? (heck I have purposely NOT taking a deduction that I felt I was 'morally'/ethically entitled to but didn't because of the potential fallout on others who are struggling) I'm not going to get all 'high & mighty' over someone or some company doing something that anyone would do if the rules were in their favor.

      There may in fact be 'illegal activity' going on with some people & corporations stashing money in these accounts but not EVERYONE here is doing anything illegal. You can argue that the 'rules of the game' are rigged, and if true than the 'rules' need to be changed but don't blame people for taking advantage of the rules. I mean shit, its not like Hilary & Bill are all 'above board' on where their Foundation money comes from or how its used.

      Shit, we KNOW 100% for a fact that the British government with backing by the US overthrew the democratically elected government of Iran & put the Shah back in place way back in the '70s just because the Prime Minister (or whatever they called him) wanted to 'nationalize the oil fields' which would have resulted in a major 'renegotiation' of oil rights for British Standard OIl...and yet NOBODY was really punished or sent to jail over that and we're still dealing with the fallout today because the people REALLY revolted & put in their current government of religious leaders.

      The US fought TWO wars in Iraq costing many hundreds of billions of dollars (maybe a trillion...I'm not up on the exact figures) and continues to spend STUPID amounts of money on 'undeclared wars' and 'security theatre' and you're all high & mighty about companies & people 'avoiding taxes'? Wake up. Unless your prepared to actually stand & fight for what you think should be done than your just a whining little puke hoping for 'the man' to throw a crumb or two your way.

      'Of course the game is rigged, but if you don't play you can't win'...figure out how the game is rigged in YOUR favour & use it.

    8. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Just to add more fuel to the fire, while tax *avoidance* is legal, and tax *evasion* is illegal, in many cases the *moral* thing to do is to evade taxes, particularly when they are being misused by a government.

      What if the only way to stop coups and wars is to starve the beast of government entirely?

    9. Re:Sad truth: No Jail Time or RICO confiscation by R3d+M3rcury · · Score: 1

      Actually, I saw an interesting graphic on the use of shell companies. It had some pretty legitimate uses for shell companies.

    10. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Two things:
      - legal != ethical.
      - two wrongs (questionable foreign policy and tax avoidance) do not make a right.

    11. Re:Sad truth: No Jail Time or RICO confiscation by WillAffleckUW · · Score: 2

      This is why we use drones until it happens

      Legal is only legal until it stops happening

      --
      -- Tigger warning: This post may contain tiggers! --
    12. Re:Sad truth: No Jail Time or RICO confiscation by MoaDweeb · · Score: 2

      Tax avoidance - the LEGAL minimisation of taxation due.
      Tax evasion - the ILLEGAL minimisation of tax due.

      Evasion gets you a cell mate, avoidance does not.

      Regardless of your own views of what should constitute avoidance/ evasion these people do not appear to have done anything illegal.
        Whether it is moral is another question.

      --
      New Zealanders are well balanced with a chip on each shoulder. One represents Australia, the other the rest of the world
    13. Re: Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      I enjoy table top wargaming. I am too broke to buy figurines, but I'm fortunate enough to live by the beach. All my companies are shell companies

    14. Re: Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      I used to own stock in Shell. I think it was rds-a or something like that.

    15. Re:Sad truth: No Jail Time or RICO confiscation by Mashiki · · Score: 1

      That's because in most countries, you have to actually investigate and do a financial audit before you start punishing people. I know, difficult to understand and all that. A few weeks back when all of this came to light the Canada Revenue Agency(IRS for Americans), directed their investigators to get a hold of and start investigating the papers for those who failed to pay their taxes or were hiding assets.

      --
      Om, nomnomnom...
    16. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Unfortunately government "representatives" seem to spend most of their effort, turning the later into the former for themselves and their sponsors.

    17. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      I don't think you know what FUD means.

    18. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Wow dude, you do realise that Tax Avoidance is perfectly legal right? Further, I'd argue that it's moral, since I can only assume that these people don't consent to pay the full tax expected of them (hence their avoidance), which would make that tax take theft, or extortion.

    19. Re:Sad truth: No Jail Time or RICO confiscation by smooth+wombat · · Score: 1

      The US fought TWO wars in Iraq costing many hundreds of billions of dollars (maybe a trillion...I'm not up on the exact figures)

      Bush's invasion and occupation of Iraq cost the U.S. $2+ TRILLION and that does not include the ongoing costs to pay for the medical expenses of the thousands of soldiers who were injured.

      --
      We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
    20. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Just to add more fuel to the fire, while tax *avoidance* is legal, and tax *evasion* is illegal, in many cases the *moral* thing to do is to evade taxes, particularly when they are being misused by a government.

      What if the only way to stop coups and wars is to starve the beast of government entirely?

      Nope, it' not moral to refuse to pay you taxes.

      The deal is pay taxes like a responsible member of society or go live in the woods. Do you want to live in the woods?

      Also, one of the traditional ways other than taxes that a government gets funds is plundering other nations. Why would you expect a reduction in wars from "starving" the government?

    21. Re:Sad truth: No Jail Time or RICO confiscation by sabbede · · Score: 1
      So, the DoJ should file RICO charges against foreign nationals for possible crimes committed against the sovereign nations of which they are citizens, while in said nations? Have you never heard of jurisdiction?

      What you suggest is entirely absurd. If an Englishman is evading UK taxes, that's a matter for the UK. Not the US. Yet you seem to want to use the US military and legal code to enforce foreign tax laws in foreign nations. I could stand next to you with a megaphone, screaming "STUPID!" in your face for days without even coming close to expressing how incredibly dumb that is.

    22. Re:Sad truth: No Jail Time or RICO confiscation by sabbede · · Score: 1
      The OP also seems to want the FBI to arrest Canadian tax evaders and charge them with violating US racketeering laws, or kill them in drone strikes.

      As an American, I'd prefer not to suddenly take over responsibility for enforcing Canadian law or blow up Canadian citizens. I have a feeling all of Canada agrees with me on that.

    23. Re:Sad truth: No Jail Time or RICO confiscation by jbr439 · · Score: 1

      In the case of Canada, it can be seen by even a layperson that the particular use of an Isle of Man tax haven was tax evasion with just enough lipstick on it to be able to later claim, in an emergency, 'gosh, I didn't realize that was a pig I was kissing'. Look up the details of it and tell me how any reasonable person could think what was being done was legal tax avoidance.

    24. Re:Sad truth: No Jail Time or RICO confiscation by jbr439 · · Score: 1

      In the case of Canada, it can be seen by even a layperson that the particular use of an Isle of Man tax haven was tax evasion with just enough lipstick on it to be able to later claim, in an emergency, 'gosh, I didn't realize that was a pig I was kissing'. Look up the details of it and tell me how any reasonable person could think what was being done was legal tax avoidance. !

    25. Re:Sad truth: No Jail Time or RICO confiscation by Anonymous Coward · · Score: 0

      Nice rationale for not paying your fair share. Do you use public infrastructure? You're a cheap SOB!

  6. Announcement that there will be an announcement by Anonymous Coward · · Score: 1

    Rich people use tax shelters. Yawn.

    1. Re:Announcement that there will be an announcement by Anonymous Coward · · Score: 1

      OMG???? Really???? You mean that having an account in the Cayman's is not just something people do in the movies?

      I'm shocked... shocked!

  7. Re:Former Tor developer created malware for the FB by danda · · Score: 0

    in other words... tor not secure.

  8. The USofA supports off-shoring by Anonymous Coward · · Score: 0, Flamebait

    All of this was known 8+ years ago by Bush and his subordinate Obama.
    Remember the campaign speech "Elect me, and I'll stop the offshore stuff."
    Well, the swearing in wasn't over but five minutes when that pledge was dead.

    Be interesting to see the current list of "victims"...

    CAP === 'parked'

  9. Epic? Really? by Anonymous Coward · · Score: 0, Informative

    Prime Minister of Iceland forced to resign?! Shouldn't he really be called the mayor of Iceland...it's like the head of Anaheim stepping down...only really news in Anaheim.

    And look how they nabbed Putin! Finally proved that he is a billionaire....is there anyone inside or outside of Russia that didn't know that.

    Short story is almost nothing will come of this. Snowden's leak got some very minor things done, but the world populace is too distracted to care about any of this anymore.

  10. Can the US join this time? by king+neckbeard · · Score: 5, Interesting

    One disappointing thing about the last leak is that it basically had no US connections. A leak that included US clients could probably bring down Clinton, Trump, and half of Congress.

    --
    This is my signature. There are many like it, but this one is mine.
    1. Re:Can the US join this time? by Anonymous Coward · · Score: 2, Insightful

      Which leads smart people to believe that this is a false flag operation from the CIA. That's how they be.

    2. Re:Can the US join this time? by Anonymous Coward · · Score: 0

      But to what end?

    3. Re:Can the US join this time? by Anonymous Coward · · Score: 1

      what about the president of the firm's numerous postings over the last decade about refusing business to US clients.... CIA long con.

    4. Re:Can the US join this time? by Anonymous Coward · · Score: 0

      > One disappointing thing about the last leak is that it basically had no US connections

      That's because americans don't need to leave the US to use shell corps. Delaware and Nevada make it easy to do right here at home.

    5. Re:Can the US join this time? by inode_buddha · · Score: 1

      Delaware and Nevada are still subject to the IRS.

      --
      C|N>K
    6. Re:Can the US join this time? by Black+Parrot · · Score: 1

      One disappointing thing about the last leak is that it basically had no US connections. A leak that included US clients could probably bring down Clinton, Trump, and half of Congress.

      If I were running for president, losing, and clean on this, I certainly wouldn't suspend my campaign until the dump hits the net.

      --
      Sheesh, evil *and* a jerk. -- Jade
    7. Re: Can the US join this time? by Anonymous Coward · · Score: 0

      So you set the corp up in deleware and the shell company in panama.

    8. Re:Can the US join this time? by sabbede · · Score: 1

      No... Even an idiot should recognize that as absurd. From pretty much any direction you could approach it.

  11. Soros by labnet · · Score: 5, Interesting

    Not much gets into main stream media without puppeteers pulling strings: And when I hear the Soros foundation is partially bankrolling this, you gotta ask why.

    Quote from infowars.

    The Panama Papers expose offshore tax havens in Switzerland, the Bahamas, Grand Cayman, and Panama, but says nothing about a new arrangement legalized under FATCA, the Foreign Account Tax Compliance Act.

    The law “makes the parking of dirty US money abroad practically impossible. So where does that money go instead—it stays in the US,” writes Zero Hedge. “And, to top it off, there is one specific firm which is spearheading the conversion of the U.S. into Panama: Rothschild.”

    The international bankster institution opened a trust company in Reno, Nevada. “It is now moving the fortunes of wealthy foreign clients out of offshore havens such as Bermuda, subject to the new international disclosure requirements, and into Rothschild-run trusts in Nevada, which are exempt,” Bloomberg reports. The United States “is effectively the biggest tax haven in the world,” boasted Andrew Penny of Rothschild. One of the world’s largest providers of offshore accounts, Trident Trust, opened an office in Sioux Falls, South Dakota.

    http://www.infowars.com/soros-...

    --
    46137
    1. Re:Soros by Anonymous Coward · · Score: 1

      Not much gets into main stream media without puppeteers pulling strings: And when I hear the Soros foundation is partially bankrolling this, you gotta ask why.

      Because his foundation is the Open Society Foundation, "with a stated aim of advancing justice, education, public health and independent media" (as per Wikipedia)...?

    2. Re:Soros by labnet · · Score: 1, Troll

      A name does not equal purpose.

      We have 'The Safe Schools Program', whos stated aim is 'the prevention of bullying in schools', but has now been revealed as primarily driven by LGBTI activists (Ros Ward) to introduce primary school aged children to alternative sexual lifestyles, which smacks of marxism (ie the state knows better than parents, so shut up)

      --
      46137
    3. Re: Soros by Anonymous Coward · · Score: 0

      Can you please cite reality as a source instead of strawman delusions? Thx

    4. Re:Soros by Anonymous Coward · · Score: 0

      You want to believe that, but you don't.

    5. Re:Soros by quintessencesluglord · · Score: 3, Funny

      Dude, you know the drill!

      First you have to do a 5 paragraph screed about the evils of money in politics with subtle hints that the Koch Bros are in league with Satan (or big oil. Same difference really).

      Then you do at least 7 posts of how Republicans are out to eat babies, rape your grandmother, and cheat at softball.

      And then you mention Soros as a half-assed et tu and mention the CCX in passing before the popcorn starts.

    6. Re:Soros by Sir+Holo · · Score: 0

      Please, never quote or link to www.infowars.com.

      It's a website for nut-job conspiracy 'theorists.'

    7. Re:Soros by Anonymous Coward · · Score: 0

      for nut-job conspiracy 'theorists.'

      What do you think 90% of Slashdotters are?

    8. Re:Soros by sabbede · · Score: 1

      I have good news for you! The mainstream media wasn't involved! At all. The ICIJ specifically excluded them!

    9. Re:Soros by jbr439 · · Score: 1

      Too true.
      The US refuses to sign on to the OECD Common Reporting Standard automatic exchange of information, and refuses to implement true reciprocity in FATCA IGAs. The result is that the US will be the last tax haven standing. Hypocrisy abounds.

    10. Re:Soros by Anonymous Coward · · Score: 0

      Why don't you go back to tossing Alex Jones' salad, you fascist alien-fucker?

  12. tougher laws by Smiddi · · Score: 1

    Now we need stronger laws to prosecute and jail these criminals. Or they will just walk away, making the entire process futile.

    1. Re:tougher laws by sabbede · · Score: 1

      Who's "we"? If you mean America, then it really doesn't matter how strong the laws are. We could make it a capital offence and it won't make one bit of difference. Because the US doesn't collect Swiss taxes from Swiss citizens, or punish them for evading said taxes. Our laws don't apply outside the US and we don't enforce other nation's tax laws for them.

  13. Future tax havens won't be online by davidwr · · Score: 4, Insightful

    I predict that future tax havens won't store client information online.

    The "true, beneficial ownership" information will all be stored on a non-connected computer network or maybe even in paper ledgers.

    Good luck getting at that without walking in and physically stealing it (or bribing/coercing a bank employee to make you a copy).

    --
    Knowledge is how to play a game, intelligence is how to win, wisdom is knowing what game to play.
    1. Re:Future tax havens won't be online by Anonymous Coward · · Score: 0

      Unless they do like with tax returns and being electronic is mandatory. Look at what happens if you don't comply with Banking Spy-err Secrecy Act type rules. Not having them online could be IRS level of fines.

    2. Re:Future tax havens won't be online by davidwr · · Score: 1

      The IRS doesn't have enforcement powers against banks in most of the world. Short of going after the country that is hosting the tax haven, the worst the US government can do is put the bank on the "bad-boy" list, denying it the right to do business with law-abiding US businesses or directly connect to the US banking system. If the bank is a tax-haven bank, it probably doesn't care.

      Let's assume for the sake of argument that the tax havens exist in countries where their own government doesn't object.

      --
      Knowledge is how to play a game, intelligence is how to win, wisdom is knowing what game to play.
    3. Re:Future tax havens won't be online by houghi · · Score: 1

      That has happened before. It will happen again.

      --
      Don't fight for your country, if your country does not fight for you.
    4. Re:Future tax havens won't be online by Anonymous Coward · · Score: 0

      If I get religion am I tax exempt?

  14. Yes, because I'm going to trust what Infowars says by Sycraft-fu · · Score: 3, Insightful

    You might want to try and find someone a little more credible than Alex Jones (9/11 truther, gold bug, serial martial law predictor, etc) if you want me to take a theory at all seriously.

  15. Nobody Trusts the Media Anymore by Anonymous Coward · · Score: 5, Insightful

    The reason the Panama Papers are failing to make the impact they should is because nobody trusts the media anymore.

    We are expected to believe that the same class which protects the interests of the wealthy and which prosletyes their neoliberal ideology has somehow enough concern for us lower castes, or for abstract concepts like "justice" or "fairness", that they will report on this impartially. Excuse me, but even if this massive group of PR-powdered international journalism extraordinaies is in fact legitimate and not just the twitter stunt they appear to be, even if they are legit, why should I believe the media this time around?

    Journalists have cried wolf, stayed silent, and betrayed the public trust too many times to be taken seriously now. The media has morphed from a fourth estate, into the new first estate. So when I see a campaign like this, I see only the new international priesthood, condemning some sin. I await their indulgences to be paid.

    1. Re:Nobody Trusts the Media Anymore by Anonymous Coward · · Score: 0

      The media has morphed from a fourth estate, into the new first estate.

      I get that they are the fourth branch of government, but I think it's OK [because checks and balances].

    2. Re:Nobody Trusts the Media Anymore by Anonymous Coward · · Score: 0

      The media has morphed from a fourth estate, into the new first estate.

      I get that they are the fourth branch of government, but I think it's OK [because checks and balances].

      Is that intended as funny?

  16. Online storage unnecessary for leaking by jbn-o · · Score: 1

    An air-gapped computer still has to have trusted people accessing it, hence each person represents a potential point of failure. The more updating these air-gapped computer records require the more frequent the on-site people use the air-gapped computers and the more opportunity any of them can copy data to a portable storage device. Leaks happen because people in-the-know who have a conscience choose to publish the confidential records. This predates the use of computers.

  17. Not from Panama by JBMcB · · Score: 1

    US companies don't use Panama as an anonymous tax shelter. They use Belize.

    The dump was from a Panamanian law firm that set up shell companies. Europeans like Panama. US companies like Belize. And, sometimes, Barbados.

    --
    My Other Computer Is A Data General Nova III.
    1. Re:Not from Panama by Kazoo+the+Clown · · Score: 1

      If that's the case, why was there a push in Congress to pass a Panama specific free trade deal in 2012? It's not like Panama has such a huge economy that a special free trade deal was warranted-- and Bernie predicted it would result in more tax shelter shenanigans, which of course, it did. There would be no point in that if there weren't wealthy people in the US pushing for it.

  18. Re:Soros ... Kochs by Anonymous Coward · · Score: 0

    But then ... one of the Kochs was heard recently ruminating about the relative presidential desirability of Hilary over Donald. Huh?

  19. Re:Soros ... Kochs by Anonymous Coward · · Score: 0

    Shhhh!

    Then certain latte liberals would have to come to terms with how their lifestyle choices align with the Kochs.

    Human sacrifice, dogs and cats living together, mass hysteria! The earth may implode!

  20. Re:Soros ... Kochs by Anonymous Coward · · Score: 1

    Nobody said the Kochs were stupid. Just venal, selfish, and corrupt.

  21. Leaks/inside jobs vs. external intrusions by davidwr · · Score: 1

    True, it is very hard to prevent a leak if your people lose faith in you.

    But air-gapping makes an un-assisted attack by a hostile outside party much, much harder. The outside party is reduce to only a couple of options: Dupe/social-engineer the people into doing their bidding (think stuxnet and the poisoned USB drives), or gaining physical access. That leaves a much lower attack surface than an internet-connected system.

    --
    Knowledge is how to play a game, intelligence is how to win, wisdom is knowing what game to play.
  22. Wait... What?? by pablo_max · · Score: 2

    Sorry, but what does our trust in the media have to do with anything? The government does not give a single fuck what the people thing or believe. Not a single fuck.
    The people are not the ones prosecuting people.
    The only outcome is what you always get. Your Clintons and what not say, OH NO!! We are gonna solve this together and those who responsible parties shall be looked at very closely, blah blah blah.
    In the then nothing at all will happen. How could it? The ones who make he laws are the ones breaking the laws and fucking over the general population time and time again.
    Do you think they are going to go after themselves? Of course they wont. Then entire system is rigged.

  23. Panama Papers Stolen? by Anonymous Coward · · Score: 0

    I must have missed something, isn't this information is stolen? Why are people trading in this stolen info?

    1. Re:Panama Papers Stolen? by ledow · · Score: 2

      The media are generally allowed to report anything "in the public interest" no matter the source.

      Technically every celebrity photo is stolen, or taken without permission, or whatever. But because the press are able to hide behind it being "in the public interest", where you and I could be sued to oblivion if we touched it, they get free reign.

  24. Intel operation, limited hangout by Anonymous Coward · · Score: 0

    Its called a "limited hangout" and there is a reason all the info is being selectively drip fed.

    1. Re:Intel operation, limited hangout by sabbede · · Score: 1
      Yeah, all those independent investigative journalists are just stooges for the CIA. The ICIJ are such great deep-cover agents that they actively work against intelligence agencies! It's not like the head of the organization has gone on the air and explained exactly why they're releasing the docs the way they are.

      Oh, wait.. http://www.npr.org/podcasts/45...

  25. Panama papers are about a global taxation system. by Anonymous Coward · · Score: 0

    The Panama Papers are about setting a false pretext to encourage demands for a global taxation system to encompass every transaction. This isn't about what is contained in the data dump (much of that information was already known to be fake years ago, btw). Keep in mind, a deliberate select few journalists have been given access to a "limited hangout" level of information. In combination with the "no-go zone" resolutions being passed by the UN and overseen by the UN Security Council without unanimous consent of the people it seeks to subdue, these leaks are about control of earth for the benefit and profit of very few globalists who've worked for generations to achieve incremental progress towards their goals being accepted by a borg/hive mind made possible by the fusion of government and media and by the US Dept of Edu-Indoctrination. People will eventually crave for the false comforts of global socialism while no one gains prosperity within socialism except those who have always been prosperous.

    The Panama Papers are an absolute psyop targeting regimes the State Department finds to be outside of international law which is another euphemism for globalist banksters' totalitarianism. The banking oil-igarch's UN and OECD wants a global tax grid - THAT is what the Panama Papers are about. Just like the fake threats inculcated during the "Cold War", people are still falling for anything they are told by assumed "reputable" outlets, all of which ECHO the government, not question it. Why are you people accepting these clear intelligence psyops like mindless drones?

  26. a global tax grid is the goal of the Panama Papers by Anonymous Coward · · Score: 0

    The Panama Papers are about setting a false pretext to encourage demands for a global taxation system to encompass every transaction. This isn't about what is contained in the data dump (much of that information was already known to be fake years ago, btw). Keep in mind, a deliberate select few journalists have been given access to a "limited hangout" level of information. In combination with the "no-go zone" resolutions being passed by the UN and overseen by the UN Security Council without unanimous consent of the people it seeks to subdue, these leaks are about control of earth for the benefit and profit of very few globalists who've worked for generations to achieve incremental progress towards their goals being accepted by a borg/hive mind made possible by the fusion of government and media and by the US Dept of Edu-Indoctrination. People will eventually crave for the false comforts of global socialism while no one gains prosperity within socialism except those who have always been prosperous.

    The Panama Papers are an absolute psyop that conveniently ONLY targeting regimes the State Department finds to be outside of its desired international law, which is another euphemism for globalist banksters' totalitarianism. The banking oil-igarch's UN and OECD wants a global tax grid - THAT is what the Panama Papers are about. They are pretending to want to catch tax dodgers by setting up a global taxation SYSTEM, not just an information automatic swapping accord that the OECD claims to be pursuing. And of course taxation = government. They can only march to total domination in this fashion if people accept it. Questioning it isn't enough.

    Just like the fake threats inculcated during the "Cold War", people are still falling for anything they are told by assumed "reputable" outlets, all of which ECHO the government, not question it. Why are you people accepting these clear intelligence psyops like mindless drones?

  27. Re:Yes, because I'm going to trust what Infowars s by sabbede · · Score: 1

    Hey, there's a quote in there from someone named Zero Hedge. If that isn't credible, I don't know what is.

  28. Re:a global tax grid is the goal of the Panama Pap by sabbede · · Score: 1

    It must be the Illuminati's doing! Or was it the Freemasons? Knights Templar? Aliens? The Devil himself?

  29. Re:a global tax grid is the goal of the Panama Pap by sabbede · · Score: 1
    Oh, and I forgot to ask why the State Department is so angry at Canada, the UK, Iceland and all the other close allies who had citizens implicated. Seems a bit silly considering they could not be closer to the US in terms of international law.

    I don't think you thought this through.