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We need to ban offshores and ban any contact with them. Create some legal framework and set defined thresholds of what is offshore and what is not and punish wi
by Yizahi 4y ago
We need to ban offshores and ban any contact with them. Create some legal framework and set defined thresholds of what is offshore and what is not and punish with short prison terms any schemes involving them. Unfortunately all world politicians are beneficiaries of this scam, and so financial crime will continue as before.
- kibwen 4y agoBan shell companies while we're at it. This is not sarcasm or exaggeration. Companies should not be allowed to own majority stakes in other companies or obfuscate their operations under sub-brands of sub-brands.
- telotortium 4y ago> Companies should not be allowed to own majority stakes in other companies You don't want companies to be able to buy other companies? You don't want multinationals? Good luck. Maybe you want a limit on the depth of an ownership tree instead - no more than 3 levels of ownership.
- kibwen 4y agoOn the contrary, why should we allow it?
- telotortium 4y agoTo get started, are you a socialist?
- kibwen 4y agoBy what logic would one need to be a socialist in order to oppose opaque corporate structures that obscure the market and thereby make it harder for consumers to make more informed judgments? Companies don't need to own other companies to make markets work. Is it "socialist" to be pro-transparency?
- telotortium 4y agoI could agree with the need for corporate transparency, but the initial proposal seemed excessively strict. Unfortunately, people managed to arrange complicated empires of corporations even back in the days when it took an act of the legislature to create a corporation (and therefore shell companies as we know them were impossible to create)[1]. [1] https://en.wikipedia.org/wiki/Trust_(business) https://en.wikipedia.org/wiki/Trust_(business)