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Tue Apr 5, 2016, 01:36 AM

Where are all the Americans in the Panama Papers?

the panama papers universe

Where are all the Americans in the Panama Papers?

April 4, 2016 3:52 p.m.

This weekend, Fusion and more than 100 other media organizations started publishing the Panama Papers, a global investigation into the secrets of offshore finance. So far it has yielded huge revelations about heads of state and politicians around the globe. Some of the biggest names to come out of the files include close friends and associates of Vladimir Putin, as well as the prime minister of Iceland, the president of Argentina, and the family of Chinese president Xi Jinping. But we haven’t seen a lot of high-wattage U.S. names in the headlines.

So far, the International Consortium of Investigative Journalists (ICIJ) has only been able to identify 211 people with U.S. addresses who own companies in the data (not all of whom we’ve been able to investigate yet). We don’t know if those 211 people are necessarily U.S. citizens. And that figure covers only data from recent years available on a Mossack Fonseca internal database — not all 11.5 million files from the leak.

In other words, that 211 number comes from just a small sliver of the data. “It’s a complete underestimate,” says Mar Cabra, head of the data and research unit at the ICIJ. Finding a precise number of Americans in the data is difficult.

Not surprisingly, though, a lot of people are asking: If this is the biggest data leak in history – and our biggest window ever onto the offshore world – where are all the Americans? After all, an estimated $150 billion in potential U.S. tax revenues disappears into offshore tax schemes each year, according to a 2014 Senate subcommittee report. We asked top experts in offshore finance to break down the American-related aspects of the Panama Papers leak.

More:
http://fusion.net/story/287671/americans-panama-papers-trove/

18 replies, 2207 views

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Replies to this discussion thread
Arrow 18 replies Author Time Post
Reply Where are all the Americans in the Panama Papers? (Original post)
Judi Lynn Apr 2016 OP
silvershadow Apr 2016 #1
Bad Dog Apr 2016 #2
Joe Chi Minh Apr 2016 #5
Baobab Apr 2016 #10
Joe Chi Minh Apr 2016 #13
Baobab Apr 2016 #15
TexasBushwhacker Apr 2016 #11
Bad Dog Apr 2016 #12
TexasBushwhacker Apr 2016 #14
Bad Dog Apr 2016 #16
TexasBushwhacker Apr 2016 #17
silvershadow Apr 2016 #18
LittleGirl Apr 2016 #3
cheapdate Apr 2016 #4
marble falls Apr 2016 #6
Baobab Apr 2016 #7
cprise Apr 2016 #8
cprise Apr 2016 #9

Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 02:46 AM

1. bookmarked for later. My uninformed guess would be...

 

while the world is focused on Panama, the Americans are scrambling in the Cayman Islands, Bermuda, and elsewhere...and scrambling quickly.

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Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 04:10 AM

2. There's a lot of documents.

There's still a lot of stuff that's not been released. An anonymous WS banker is not as gossip worthy as Putin's mate.

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Response to Bad Dog (Reply #2)

Tue Apr 5, 2016, 07:44 AM

5. Nor, apparently, is it going to be released. I believe

VT reported that it was stated that 80% would not be made public. The devil looks after his own.

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Response to Joe Chi Minh (Reply #5)

Tue Apr 5, 2016, 03:00 PM

10. US taxes are already low- we are a tax haven already.

seriously.


See http://ctj.org

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Response to Baobab (Reply #10)

Wed Apr 6, 2016, 09:03 AM

13. I read today Wikileaks is pushing for the public to have access to all

the data. Some has mysteriously gone missing apparently. Said to have been stolen.

Yep. It was inevitable that Bush would start lowering the taxes on the rich and it will perhaps take an Act or Acts of God to put a stop to their pillage and dramatically reverse the process. In these major money-matters, Obama is no more than a cypher. But, as MLK remarked, 'Longevity has its place'. And St Augustine : 'When justice leave a society, what are its leaders, but mighty bands of robbers?' How about : 'Untouchables' into the bargain ?

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Response to Joe Chi Minh (Reply #13)

Wed Apr 6, 2016, 11:09 AM

15. One has to wonder why not just abolish money

since its so prone to misuse.

Or alternatively, the can just meter everything and turn it off the minuite somebody's account goes negative. Imagine somebody's oxygen supply being cut off in the middle of a breath. Because their student loans. Its coming.

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Response to Bad Dog (Reply #2)

Tue Apr 5, 2016, 05:15 PM

11. 11.5 MILLION documents!

Even though the journalists have been working on this for a year, that's a lot of data.

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Response to TexasBushwhacker (Reply #11)

Wed Apr 6, 2016, 05:12 AM

12. Exactly.

it's going to take a very long time to go through all that.

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Response to Bad Dog (Reply #12)

Wed Apr 6, 2016, 09:56 AM

14. And it's being examined by journalists from all over the world

So the Indian journalists are most interested in Indians, like Bollywood actress Aishwarya Rai.



Granted, everyone would want to find something on world leaders. I'm sure Donald Trump or the Clintons would be a big find for anyone, but those names don't sell as many papers in Hong Kong as Jackie Chan.

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Response to TexasBushwhacker (Reply #14)

Wed Apr 6, 2016, 01:45 PM

16. Over here it's Cameron's dad.

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Response to Bad Dog (Reply #16)

Wed Apr 6, 2016, 02:33 PM

17. Exactly. In Iceland it's the (former) PM n/t

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Response to TexasBushwhacker (Reply #11)

Sat Apr 30, 2016, 09:22 PM

18. The fallout should be epic...eventually, and barring unforeseen circumstances. nt

 

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Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 04:18 AM

3. That was my first question!

Where are the Americans? We know that they are in there. Bring them out!

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Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 05:57 AM

4. In perspective, this leak was from one firm among hundreds of offshore shell companies

that hide money. These shell companies are in Panama, the Bahamas, the British Virgin Islands, and all over.

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Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 08:10 AM

6. Where are all the Americans? The Caymans.

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Response to Judi Lynn (Original post)

Tue Apr 5, 2016, 08:47 AM

7. Taxes in US already are low

relative to most other countries.

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Response to Baobab (Reply #7)

Tue Apr 5, 2016, 12:08 PM

8. Article points out Delaware, Nevada, North Dakota already

provide havens for shell companies.

Our elites are so conditioned shelter these people from prosecution that few feel the need to go offshore.

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Response to Baobab (Reply #7)

Tue Apr 5, 2016, 12:17 PM

9. Here is an example to today's news:

BP clinches Deepwater Horizon tax break
http://www.democraticunderground.com/10027739586

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