Archive for the ‘Thoughts’ Category

Feb 04 2013

City of London wants to create a new African tax haven

Posted by: Nick Shaxson in: Thoughts

From Kenya’s Standard (hat tip Martin Kirk)

Nairobi’s vision of following the footsteps of London, and becoming a global financial centre, has started taking shape with a financial firm appointed to deliver the work — TheCityUK — seeking partners to participate in the development of the project.

Let’s see. Who is TheCityUK? Well, on their “Who we are” …

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Jan 24 2013

Leah McGrath Goodman, unbanned

Posted by: Nick Shaxson in: Thoughts

The U.S. journalist researching this “peculiar possession” of the Crown was banned from the UK, after doing some uncomfortable research in The Septic Isle Jersey.

Unbanned. Good news, thanks perhaps to Change.org.…

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Jan 24 2013

Britain’s Prime Minister now sings to a tax justice tune

Posted by: Nick Shaxson in: Thoughts

I was going to write on this separately, but here is instead a cut and paste from the TJN  blog, via Richard Murphy, who has done a good write-up.

David Cameron spoke in Davos this morning. There was, of course, stuff in his speech with which I disagreed. But he also spoke extensively on tax and transparency. And there

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Jan 21 2013

Exposed: The regime of fear inside Barclays – and how the boss lied and shredded the evidence

Posted by: Nick Shaxson in: Thoughts

This one’s a corker. From the UK’s Daily Mail:

A senior Barclays executive has quit after it was revealed that he secretly shredded a bombshell report that described a key part of the bank as ‘out of control’.

It reminds me of a Guardian report from 2009, only more so.…

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Jan 21 2013

‘Buddy’ scheme to give more multinationals access to ministers

Posted by: Nick Shaxson in: Thoughts

From The Guardian:

The government is expanding a controversial scheme which pairs dozens of multinational companies with a ministerial “buddy”, giving them privileged access to the heart of government, the Guardian has learned.

Oh dear, oh dear. The Guardian says 38 companies are involved, with more expected all the time. I don’t see banks on the list – what …

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Jan 16 2013

Secret City – new film about the City of London Corporation

Posted by: Nick Shaxson in: Thoughts

I have written extensively about the City of London Corporation before, in Treasure Islands and on this blog. As I’ve noted, with its Worshipful Company of Tax Advisers, and much, much, much, more – it’s a damned peculiar organisation.

There’s a new film out now, entitled Secret City. I haven’t seen it yet – I must get hold …

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Jan 15 2013

On apologising well

Posted by: Nick Shaxson in: Thoughts

A dignified apology from the always-interesting Golem XIV. He seems to me to come away from this apparent slip-up with his reputation enhanced by this admission. In any case, the reason for posting here is to draw attention to something from his blog that strikes a chord with me:

There is always a danger – which I am very aware

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Jan 15 2013

Ronen Palan: The new dependency theory

Posted by: Nick Shaxson in: Thoughts

For those who missed it, Professor Ronen Palan, one of very few academics to have taken a serious and active interest in offshore, recently wrote another superb and readable article entitled The New Dependency Theory. Old-style dependency theory, he said, hypothesised that the world capitalist economy is structurally arranged to facilitate massive transfers of capital from developing countries to …

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Jan 11 2013

Jon Stewart on H.S.B.C.: “Holy Shit, Bank’s Corrupt!”

Posted by: Nick Shaxson in: Thoughts

Jon Stewart on hilarious form, as usual, looking at HSBC. Among other gems (apart from HSBC’s new acronym):

“Money laundering with drug cartels and terrorist groups: I am surprised that those people would associate with . . . . . bankers.”

“That is outrageous. I cannot believe that our nation’s enemies are getting better and more personal customer service

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Jan 10 2013

Sainsbury’s boss Justin King slams tax avoidance

Posted by: Nick Shaxson in: Thoughts

Justin King, CEO of the UK supermarket Sainsbury’s, was on blistering form last night on Channel 4 News, delivering a fantastic lesson on corporate tax avoidance. Who could argue with him? I consider the intellectual argument to be won. Now all that is left in the way of true reform is the power of multinational corporations, which have effectively been …

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