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Leaks take their first scalp. Curious to see if/when they go after more sensitive/powerful Western interests. Seems like so far the articles have gone after fa

Leaks take their first scalp. Curious to see if/when they go after more sensitive/powerful Western interests. Seems like so far the articles have gone after fairly easy targets.

xlm1717 11y ago
My thoughts exactly. Really hope they don't take too long in leaking more powerful targets.
losteric 11y ago
> Seems like so far the articles have gone after fairly easy targets. They're being careful. There are legitimate reasons for running these shell corps and (accidental) libel will throw all their accusations in to question. > When asked about the lack of Americans in the original release, the German newspaper’s editor responded mysteriously: "Just wait for what is coming next." I am patiently waiting with a bucket of popcorn.
- pdabbadabba 11y ago
  > When asked about the lack of Americans in the original release, the German newspaper’s editor responded mysteriously: "Just wait for what is coming next." We may see something eventually. But it has also been pointed out that U.S. laws give wealthy individuals fewer reasons to form companies in Panama. It is possible to form entities with secret owners under U.S. law, with a little effort. So the primary reason for Americans to go offshore may be tax-related, for which Panama would not normally be the jurisdiction of choice. See: http://fusion.net/story/287671/americans-panama-papers-trove/ http://fusion.net/story/287671/americans-panama-papers-trove...
  - rconti 11y ago
    There's a whole series of NPR Planet Money podcasts about setting up offshore (and onshore!) shell companies. http://www.npr.org/sections/money/2012/07/27/157499893/episode-390-we-set-up-an-offshore-company-in-a-tax-haven http://www.npr.org/sections/money/2012/07/27/157499893/episo...
    - joezydeco 11y ago
      Just finished these as well. PM couldn't have lucked out more with the timing on this one.
      - freshyill 11y ago
        I don't think it was luck. I was just listening to All Things Considered and apparently there was considerable collaboration among journalists. The Planet Money podcasts were rebroadcasts from a few years ago. I bet they knew the story would be dropping soon, and they decided to give their listeners a primer. http://www.npr.org/2016/04/05/473139196/panama-papers-leak-is-the-result-of-unprecedented-media-collaboration http://www.npr.org/2016/04/05/473139196/panama-papers-leak-i...
        joezydeco 11y ago
        Wow. Good point.
  - epimetheus 11y ago
    There are Americans named, actually, though just not as much in the limelight: http://www.seattletimes.com/nation-world/americans-including-a-bellevue-man-show-up-in-panama-papers/ http://www.seattletimes.com/nation-world/americans-including...
    - pdabbadabba 11y ago
      Yes, this is discussed in the article I linked to as well. It may be that, although Americans generally have less need to set up shell corporations in Panama, Panama may be relatively more attractive for criminals, since not only can they be anonymous (no different from the U.S.), but also less easily reached through U.S. judicial processes. This may mean that, though there are fewer Americans named in these files than one might expect, their dealings might be shadier, on average, than other nationalities'.
- adventured 11y ago
  > I am patiently waiting with a bucket of popcorn. Why would that be of worthy entertainment value? Shouldn't you be hoping the exact opposite, that very few or no Americans are involved (and insert any replacement country, as the same should go for all nations)?
  - deong 11y ago
    That would be true in a country in which the public believed their governments to be functioning bodies directed at improving their country. I'd challenge you to find a lot of people who feel that way. When you believe the game is already rigged, every cheater hauled away is good news.
    - eru 11y ago
      Actually, you can probably find people who feel that way in Singapore. (And probably in very brainwashed countries, too, but they'd be less justified.)
  - losteric 11y ago
    Why does everyone say that? Everyone knows there are corrupt Americans. It's a fact. We're well past the fantasy land of universally ethical citizens. The debate isn't whether there are corrupt Americans, the question is who. Mob bosses? Trust-fund baby tax evaders? Wall Street hedge funds? Big-Oil CEOs? Ex-military defense contractors? Politicians? I don't know, but some of them better get jailed to discourage others from gaming the system. And it's entertaining when a big criminal gets caught and punished, especially when the public strongly suspected them but lacked the concrete evidence (like Al Capone).
- kevin_thibedeau 11y ago
  Odds on Romney?
  - eru 11y ago
    Are you willing to bet? I'd give even odds we won't hear about him involved in a Panama Papers related scandal in the next 12 months.
coltonv 11y ago
Hardly taking a scalp when he remains the leader of the party and another member of the same party takes over for him. He's also still rich as fuck and very powerful within the country.

Leaks take their first scalp. Curious to see if/when they go after more sensitive/powerful Western interests. Seems like so far the articles have gone after fairly easy targets.

xlm1717 11y ago

My thoughts exactly. Really hope they don't take too long in leaking more powerful targets.

losteric 11y ago

> Seems like so far the articles have gone after fairly easy targets. They're being careful. There are legitimate reasons for running these shell corps and (accidental) libel will throw all their accusations in to question. > When asked about the lack of Americans in the original release, the German newspaper’s editor responded mysteriously: "Just wait for what is coming next." I am patiently waiting with a bucket of popcorn.

pdabbadabba 11y ago
> When asked about the lack of Americans in the original release, the German newspaper’s editor responded mysteriously: "Just wait for what is coming next." We may see something eventually. But it has also been pointed out that U.S. laws give wealthy individuals fewer reasons to form companies in Panama. It is possible to form entities with secret owners under U.S. law, with a little effort. So the primary reason for Americans to go offshore may be tax-related, for which Panama would not normally be the jurisdiction of choice. See: http://fusion.net/story/287671/americans-panama-papers-trove/ http://fusion.net/story/287671/americans-panama-papers-trove...
- rconti 11y ago
  There's a whole series of NPR Planet Money podcasts about setting up offshore (and onshore!) shell companies. http://www.npr.org/sections/money/2012/07/27/157499893/episode-390-we-set-up-an-offshore-company-in-a-tax-haven http://www.npr.org/sections/money/2012/07/27/157499893/episo...
  - joezydeco 11y ago
    Just finished these as well. PM couldn't have lucked out more with the timing on this one.
    - freshyill 11y ago
      I don't think it was luck. I was just listening to All Things Considered and apparently there was considerable collaboration among journalists. The Planet Money podcasts were rebroadcasts from a few years ago. I bet they knew the story would be dropping soon, and they decided to give their listeners a primer. http://www.npr.org/2016/04/05/473139196/panama-papers-leak-is-the-result-of-unprecedented-media-collaboration http://www.npr.org/2016/04/05/473139196/panama-papers-leak-i...
      - joezydeco 11y ago
        Wow. Good point.
- epimetheus 11y ago
  There are Americans named, actually, though just not as much in the limelight: http://www.seattletimes.com/nation-world/americans-including-a-bellevue-man-show-up-in-panama-papers/ http://www.seattletimes.com/nation-world/americans-including...
  - pdabbadabba 11y ago
    Yes, this is discussed in the article I linked to as well. It may be that, although Americans generally have less need to set up shell corporations in Panama, Panama may be relatively more attractive for criminals, since not only can they be anonymous (no different from the U.S.), but also less easily reached through U.S. judicial processes. This may mean that, though there are fewer Americans named in these files than one might expect, their dealings might be shadier, on average, than other nationalities'.
adventured 11y ago
> I am patiently waiting with a bucket of popcorn. Why would that be of worthy entertainment value? Shouldn't you be hoping the exact opposite, that very few or no Americans are involved (and insert any replacement country, as the same should go for all nations)?
- deong 11y ago
  That would be true in a country in which the public believed their governments to be functioning bodies directed at improving their country. I'd challenge you to find a lot of people who feel that way. When you believe the game is already rigged, every cheater hauled away is good news.
  - eru 11y ago
    Actually, you can probably find people who feel that way in Singapore. (And probably in very brainwashed countries, too, but they'd be less justified.)
- losteric 11y ago
  Why does everyone say that? Everyone knows there are corrupt Americans. It's a fact. We're well past the fantasy land of universally ethical citizens. The debate isn't whether there are corrupt Americans, the question is who. Mob bosses? Trust-fund baby tax evaders? Wall Street hedge funds? Big-Oil CEOs? Ex-military defense contractors? Politicians? I don't know, but some of them better get jailed to discourage others from gaming the system. And it's entertaining when a big criminal gets caught and punished, especially when the public strongly suspected them but lacked the concrete evidence (like Al Capone).
kevin_thibedeau 11y ago
Odds on Romney?
- eru 11y ago
  Are you willing to bet? I'd give even odds we won't hear about him involved in a Panama Papers related scandal in the next 12 months.

coltonv 11y ago

Hardly taking a scalp when he remains the leader of the party and another member of the same party takes over for him. He's also still rich as fuck and very powerful within the country.