Pandora Papers: "Biggest-ever" bombshell leak exposes financial secrets of the super-rich

[Lasher]

Source: Salon

In what's being called the "biggest-ever leak of offshore data," a cache of nearly 12 million files published Sunday laid bare the hidden wealth, secret dealings, and corruption of hundreds of world leaders, billionaires, public officials, celebrities, and others.

The bombshell revelations—known as the Pandora Papers—were published by the International Consortium of Investigative Journalists (ICIJ) and include private emails, secret contracts, and other records obtained during a two-year investigation involving more than 600 journalists in 117 countries and territories.

"This is the Panama Papers on steroids," said ICIJ director Gerard Ryle, referring to the 2016 exposé of the tax-evading secrets of the super-rich. "It's broader, richer, and has more detail."

Read more: https://www.salon.com/2021/10/03/pandora-papers-biggest-ever-bombshell-leak-exposes-financial-secrets-of-the-super-rich_partner/

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The Panama Papers on steroids. This should get interesting.

[I_UndergroundPanther]

1. Fuck the rich

And make them pay.

[Celerity]

20. The Members - Offshore Banking Business TOTP 05 04 1979

[Evolve Dammit]

2. Open it far and wide. Maybe, just maybe MSM will cover it.

[Lasher]

4. I don't think we will see many US names in these papers.

That's because US is itself a spectacularly corrupt tax haven. The wealthy in the United States tend to pay such low tax rates that they have less incentive to seek offshore havens.

[Evolve Dammit]

5. Perhaps not. Welcome any sunlight we can get. And wish Congress and IRS would go after tax evaders

[robbob]

6. MSM is owned by the ultra rich

So no, they probably won’t cover it.

[OldBaldy1701E]

29. And if they do

It will be to condemn it and tell us how horrible it was and how we all should be worried because any of us might be next. As if more than 12% of the population could even consider doing this. However, I do hope that the few agencies that do feel the need to tell us about this will do so and allow us to call out the other agencies that have a stake in maintaining the status quo.

[DanieRains]

3. They Are Rich They Are Criminals They Will Never Be Arrested

Because of law and order....

More order, less law.

[Hoyt]

7. Unfortunately, sounds like vast majority of the money/wealth is not from USA,

or taxable here. Although Russia, Britain, etc., might have a chance at taxation.

[RussBLib]

8. "pandora" - open it and who knows what comes out ?

BOO!?$$?!

Only a couple of people have been jailed due to the Panama Papers, and no one of high visibility. They have cheated their governments out of their rightful taxation long enough.

Let some frikkin' heads roll. And not the dupes or the mules.

[paleotn]

9. Sioux Falls a money laundering center?

Bet it's tougher to recruit help there than in the Caymans.

[Lasher]

10. Fact is stranger than fiction.

[Celerity]

19. This Tiny City Is Home to America's Richest Bank Branches

https://www.fool.com/investing/general/2014/03/02/this-south-dakota-city-is-home-to-americas-richest.aspx

[SpankMe]

11. This doesn't mean shit...

...until and unless an analysis of the data is published widely and leads to new legislation at state and national levels that close these loopholes.

I'm not holding my breath.

[AKwannabe]

12. I've not heard of Pandora Papers

Did anything come of it? Ie…does it even matter?
Having the info published supposed to embarrass?
Cause financial ruin?
Cause arrest or jail time?

Idk?
Does anyone?

[Pachamama]

26. Just released within last 24 hours....

That is a reason most people including yourself and me are learning about it…

[No Vested Interest]

13. Is my name on that list?

[NCjack]

14. Did USA treasury get any money, send anyone to jail based on Panama Papers?

I have low expectations of the Pandora Papers.

[KPN]

15. Lol. Right. This is just the tip of the iceberg.

[czarjak]

16. As Rushbo said...

“Wealth is like rainwater, all that’s ever been generated is already here, it’s just a matter of distribution”. It’s all at the top just waiting to trickle down. Any time rubes.

[orangecrush]

17. KICK

[ancianita]

18. Don't forget the Paradise Papers. Interpol's been so busy coordinating with governments that,

well, there's a warrant backlog in the West.

All that information in the Panama and Paradise Papers?

Nothing happened to any of the named hoarders and tax evaders.
Big leak. Big splash about the leak. Then what.

No FBI coordinations with Interpol, which currently has 62,448 Red and 12,234 Yellow notices in circulation, anyway.

No raids on the culprits' homes or offices;
no confiscation of electronics,
no confiscated passports,
no frozen assets,
no subpoenas for investigations,
no shell company charter dissolutions;
no nothing. Nada.

It's as if offshore account owners live in a world free from Rule of Law, isn't it. Yes, it is.

Wow it's as if they don't care, or might even want us to know who they are, just to rub the world's collective nose in it. With all the helpless, hapless enforcement across jurisdictions, maybe governments are not so much in a big hurry to take their nations' wealth back.
Gotta wonder why that is. A lot of us could sure use it, right?

[moondust]

21. Any 'Murcans the GQP can shower with tax cuts?

In exchange for BIG ongoing campaign contributions.

[burrowowl]

22. K&R!

[Orrex]

23. I predict that exactly nothing will be done about this

Except, of course, that key contributors to the investigation will suddenly be found dead of "suicide."

[Justice matters.]

24. Old news.

They "moved" to cryptocurrency by now.

[bucolic_frolic]

28. Yeah. The lack of government regulation re: crypto should tell you a lot. /nt

[Rhiannon12866]

25. From CBS News: Newly-published Pandora Papers expose secret financial dealings of global politicians

https://www.democraticunderground.com/1017685147

A massive document leak is revealing the secret financial dealings of some of the world's richest people and most powerful leaders. According to The Washington Post, the so-called Pandora Papers detail the "opaque financial universe where global elite shield riches from taxes, probes and accountability." The Post's investigative reporter Debbie Cenziper joins CBSN host Elise Preston with more on what she and her colleagues discovered while examining the documents. Aired on 10/03/2021.

[bucolic_frolic]

27. The world is not making any progress

We've been struggling with economic equity since the French Revolution, if not way way before that. And the peasants have been granted access to a 401K* and equity index funds which crash every time the Fed threatens to stop diluting the currency.

*You too can have one if you live frugally while working for the man.

[OldBaldy1701E]

30. Exactly!

(BTW, I love your signature line, but you know that the system is rigged to make the rich richer. Until we change the system...)

[bucolic_frolic]

31. That's just the way things are.

Self-interest, incentive, motivation, capitalism. Soviets tried something different but collectivism failed, and I would argue because it was basically the same elites bleeding the system while managing public wealth. Now they've privatized the same system.

European worker socialism in a capitalist economy seems to be working, but some of them do have sovereign energy funds to help the process, and most of their standards of living flag a bit.

Will the world ever cap wealth, and devolve capital and decision-making to informed workers? Would that be wise? We're not all equal in brains or motivation. Is there enough planet remaining to do so? Tune in next time as our exalted leaders confront limits in the exciting conclusion All Power to the Hourly Workers Causes Chaos, or Powell Cooks Thanksgiving Dinner for the Poor!

[OldBaldy1701E]

32. All very true

But as that wonderful meme says, all we have to do is stand up. It is the continual lies and strong-arming that has made things the way they are. Will the middling people ever pull the gold glitter from their eyes? Will they ever want to? Ignorance is bliss, after all.

[bucolic_frolic]

33. Well, that is the crux of the matter

The masses informed and united is quite another order of fries.

[twodogsbarking]

34. It wasn't a box. It was Pandora's jug.

Not sure how it got changed.

[hunter]

35. There's not so much corruption here in the U.S.A. because this kind of sociopathic behavior...

... is largely legal and often celebrated.

So many of us are temporarily embarrassed capitalists.