Review (Guest): Treasure Islands – Uncovering the Damage of Offshore Banking and Tax Havens

5 Star, Banks, Fed, Money, & Concentrated Wealth, Capitalism (Good & Bad), Complexity & Catastrophe, Congress (Failure, Reform), Corruption, Crime (Corporate), Crime (Government), Crime (Organized, Transnational), Diplomacy, Economics, Executive (Partisan Failure, Reform), Impeachment & Treason, Intelligence (Public), Peace, Poverty, & Middle Class, Secrecy & Politics of Secrecy, Threats (Emerging & Perennial)
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Nicholas Shaxson

Selected Editorial Comments:

“Shaxson’s story of offshore banking is nothing short of Shakespearean, a drama full of secrecy, treachery and corruption in which wealthy countries, companies and individuals collude to horde wealth in a complex global network of largely unregulated tax havens. To realize this end, they install corrupt leaders, exploit indigenous populations and, ultimately, deny both developed and developing nations of vital tax dollars. There is much here that should generate outrage…An admirable job of both arguing the consequences of offshore banking and providing a succinct history of the practice.”–Kirkus

“A blistering account of the role that tax havens play in international finance. . . brilliant.”—London Review of Books

“Far more than an exposé, Treasure Islands is a brilliantly illuminating, forensic analysis of where economic power really lies, and the shockingly corrupt way in which it behaves. If you’re wondering how ordinary people ended up paying for a crisis caused by the reckless greed of the banking industry, this compellingly readable book provides the answers.”–David Wearing, School of Public Policy, UCL, London’s Global University

“The real challenge to America’s economy comes not from China – but from the Caymans, the Bahamas, and a whole hot-money archipelago loosely under the control of the City of London.  If only as a civics lesson, read this astonishing book to find out the true political constitution of the world.”– Thomas Geoghegan, author of Were You Born on the Wrong Continent?

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

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