Archive for the ‘Thoughts’ Category

Mar 06 2013

My latest article in Vanity Fair

Posted by: Nick Shaxson in: Thoughts

It’s on the newsstands this week. A very short summary is here.

And now, from the Daily Mail, one one of the important characters in my story, this astonishing snippet:

“Now the British property tycoon has become the proud father of twins – whom he has apparently named after two of the world’s most well-known tax havens.

Isabella

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Mar 04 2013

Quote of the Day – City of London and the police

Posted by: Nick Shaxson in: Thoughts

From Rowan’s blog:

One of the first things we discovered was that the City and its practitioners did not like talking to detectives, and particularly detectives who were not from their own tame City Police Force.

A fine quote. (And you might ask: what is the City of London Police?) Some long discussion about his experiences, including:

“Those

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Mar 01 2013

What the hell is the UK doing in its tax haven of Jersey?

Posted by: Nick Shaxson in: Thoughts

Updated with commentary on commenters underneath (and note that one of the commenters appears to be an imposter claiming to be the blogger Tom Gruchy: I’ve just received a phone call about this.)

This is one in an occasional series on the widespread corruption, impunity and criminality in the Septic Isle, otherwise known as the part-British tax haven of Jersey. …

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Feb 28 2013

The UK’s Great Tax Robbery: read within range of punchbag

Posted by: Nick Shaxson in: Thoughts

I am currently reading Richard Brooks’ The Great Tax Robbery.

It is a relentlessly brilliant demolition job on the outdated shibboleths, myths and political capitulations that underpin Britain’s long and steady march towards global tax haven status. Very accessible and well written, it attacks the UK’s last “New Labour” government as much as the current Conservative government, just as …

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Feb 28 2013

Bonus caps and financial transparency: a big step forwards

Posted by: Nick Shaxson in: Thoughts

Alongside a cap on bankers’ bonuses, a requirement for country by country reporting for banks.

Important stuff.

And here’s something I like very much, from the FT.

“While the terms of the deal are unlikely to change, if Mr Osborne holds out it will be the first time Britain has been outvoted on a financial services issue, a significant

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Feb 15 2013

Lord Lucas on the threat from Amazon

Posted by: Nick Shaxson in: Thoughts

Take a look at Lord Lucas in Britain’s parliament, talking very frankly about Amazon. I can’t embed this video, for some reason. Still, this is scary stuff. Some excerpts:

Amazon is an amoral monopsony in its growth phase. It is using extremely low margins to drive market share. It is using aggressive tax avoidance to afford those low margins. It

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Feb 14 2013

This might be the best letter ever written about bankers’ bonuses

Posted by: Nick Shaxson in: Thoughts

Read it here. I cannot recommend it highly enough.

It’s a comment on bankers bonuses, but it could also be taken as a commentary on taxpayer-funded public services.

(And after you’ve read it, you might read this.)

Hat tip here.…

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Feb 11 2013

How tax havens might undermine that UK banking ring fence

Posted by: Nick Shaxson in: Thoughts

From Professor Prem Sikka, and an article entitled UK banking reform bill won’t curb reckless risk-taking, looking at Britain’s banking reforms which envisage an electrified ring-fence between the useful ‘utility’ banking that banks carry out and the ‘casino’ speculative activities that almost brought the global economy tumbling down about our ears. (The question of course is: why a ring …

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Feb 10 2013

British sugar company in African tax scandal

Posted by: Nick Shaxson in: Thoughts

Pasted from the Tax Justice blog, an important story

From The Observer, reporting on an important new investigation by ActionAid:

“One of Britain’s biggest multinationals, whose brands include Silver Spoon sugar, Twinings Tea and Kingsmill bread, is avoiding paying millions of pounds of tax in an African state blighted by malnutrition, a year-long investigation revealed on Sunday.

.

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Feb 08 2013

The “whore’s drawers” and the Libor scandal – a tale of two cultures

Posted by: Nick Shaxson in: Thoughts

From Rowan’s blog:

“A single mother who claimed more than £44,000 in benefits but failed to tell the authorities she was living with a man, has been sent to prison.”

And then from the Libor fraud scandal, he pulls out this correspondence:

Yen Trader 1: can we lower our fixings today please [Primary Submitter]
Primary Submitter: make your

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