Regarding the international network of offshore financial schemes . . . it has been going on for a very long time. Rachel Maddow has been talking about the oligarchs of Russia for years and offshore accounts are nothing new! Obviously, the grotesque financial inequity that has grown to 100's of billionaires has fed this situation to a…
Regarding the international network of offshore financial schemes . . . it has been going on for a very long time. Rachel Maddow has been talking about the oligarchs of Russia for years and offshore accounts are nothing new! Obviously, the grotesque financial inequity that has grown to 100's of billionaires has fed this situation to a global insanity. From the perspective of U.S. government policy there should to be a huge "reset button" regarding financial aid to countries where leaders and individuals hoard $billions and leave their own people in poverty.
And, in this country, it is totally nuts we do the same thing . . . we go begging for and compromising on infrastructure funds (including social infrastructure) while the self-centered uber rich take multi-minute rocket rides to the edge of space as a pure joy ride. Because of the vast financial and social inequities, the masses end up with no control over their lives (for women it gets right down to their own bodies!) There certainly is no easy way out . . .
Hands up for everyone who knew a major location for “offshore hidden assets” was South Dakota? Read the reports on South Dakota trust assets. South Dakota Republican Governor Kristi Noem needs to be asked about this every time she appears in public. And, where are U.S. regulators on this? WTF???
I have wondered many times about her rise in popularity. She has always appeared to me as disingenuous. Hmmm. Who would’ve thought South Dakota as such a piggy bank.
South Dakota has for many decades had an extremely relaxed attitude about the regulation of the financial services companies located and chartered within their state. For many years the credit card industry and many other consumer lenders located operations and chartered themselves there to take advantage of their ability to charge higher rates by virtue of that. South Dakota's excuse was that it provided employment and jobs within what was otherwise a largely rural and agricultural state. Many of these operations were for the financial services industry giants who otherwise were located in coastal states.
She needs to be asked but won't. They'd never pose that question on right wing outlets and you won't be seeing her on 60 Minutes anytime soon I'm guessing.
Thanks Herb. He's probably busy trolling other liberal forums. I was going to ask him to "prove it" but you did a nice job. And as Fern says, "Don't feed it!"
Ummm. The SD angle is in the International Consortium of Independent journalism exposé, guys. And of course, all over WaPo. (WashPost) Let’s be expanding our go-to reliable news sources. (AND subscribing to them, if we want to keep this democratic republic of ours.)
There is a news headline in what you assert, J Boone..."Liberal Democrats in NY and CA hide their millions in South Dakota". Wonder if the locals agree ??
At the core of the problem are all the politicians from both parties that conspire with the wealthy in the high-stakes game of politics. It is quid pro quo on steroids.
It's on full display with every piece of legislation. It's why Biden's $6-trillion Build Back Better proposal has been quickly cut down to as low as $1.5 trillion by the corporate centrist branch of the Democratic Party. It doesn't help when supporters are so willing to compromise on widely lauded and supported legislation just to make a deal.
The other piece of it, as Heather mentioned, is how politicians constantly divert attention from their larcenous ways by distracting most of us with issues that divide and alienate voters. Republicans are masters at this and Democrats participate by default!
As Janet W. noted this has been going on for a very long time. Does anyone believe that politicians will come together, grow a spine, and stand up to the wealthy? I don't.
I was working in the institutional investment management business in the mid-1970's when the industry was solidly under the control of privileged white men (young and old) and offshore accounts (specifically Bermuda) were a financial haven for the affluent of the time! While the wealth factor definitely was there, it wasn't even a blip on the charts compared to today. It has all grown to monsterous levels. For the most part those with wealth and/or privilege have been enabled to accumulate concentrations of riches and influence unheard of in any other time period. They were and are the gatekeepers!
I used to work for Fireman’s Fund Insurance. Their stock is White Mountains. Warren Buffett is an investor. In the latter part of tge 80’s, they moved their operations to Bermuda. I figured it out after I left the company. Took my stock and reinvested elsewhere.
And...while the ultra rich of this country continue to build their empires, We The People (most of us being NOT wealthy) are asked to subsidize our fellow Americans' grief, loss, operations, etc. through GoFundMe requests. We are told that religious institutions should take up the slack created by gutted social programs (think food pantries), but who will fund the religious organizations?...wait, I know...the poor and middle class (if there is any middle class left). We (retired on a fixed income and praying that our 401(k)s don't tank) are besieged by requests from all manner of charitable organizations, hoping beyond hope that we can make a "small monthly donation." At last count, I have 18 requests on my desk. At a minimal $5/month, that's $90 a month...and it doesn't begin to include the e-mail and social media requests. But it's OK to send the rich to space. (no, it's not OK...that was a snarky comment)
Fred, I can certainly relate, at about 30 mail requests for money each month. I've drawn the line at $20/year for about 8 different organizations...other than my church.
In the same shape as you guys. Waiting for the stock market to reflect what hit Brazil this year and devastated their coffee trees, in addition to their severe ongoing drought. Their orange trees are down as well, and corn for cattle and egg laying chickens. We will feel this! Starbucks and Dunkin are already scrambling for alternative sources for next year. Brazil is one of the two major exporters of Arabica coffee; the other is Vietnam, then Africa, I think.
Regarding the international network of offshore financial schemes . . . it has been going on for a very long time. Rachel Maddow has been talking about the oligarchs of Russia for years and offshore accounts are nothing new! Obviously, the grotesque financial inequity that has grown to 100's of billionaires has fed this situation to a global insanity. From the perspective of U.S. government policy there should to be a huge "reset button" regarding financial aid to countries where leaders and individuals hoard $billions and leave their own people in poverty.
And, in this country, it is totally nuts we do the same thing . . . we go begging for and compromising on infrastructure funds (including social infrastructure) while the self-centered uber rich take multi-minute rocket rides to the edge of space as a pure joy ride. Because of the vast financial and social inequities, the masses end up with no control over their lives (for women it gets right down to their own bodies!) There certainly is no easy way out . . .
Hands up for everyone who knew a major location for “offshore hidden assets” was South Dakota? Read the reports on South Dakota trust assets. South Dakota Republican Governor Kristi Noem needs to be asked about this every time she appears in public. And, where are U.S. regulators on this? WTF???
I have wondered many times about her rise in popularity. She has always appeared to me as disingenuous. Hmmm. Who would’ve thought South Dakota as such a piggy bank.
South Dakota has for many decades had an extremely relaxed attitude about the regulation of the financial services companies located and chartered within their state. For many years the credit card industry and many other consumer lenders located operations and chartered themselves there to take advantage of their ability to charge higher rates by virtue of that. South Dakota's excuse was that it provided employment and jobs within what was otherwise a largely rural and agricultural state. Many of these operations were for the financial services industry giants who otherwise were located in coastal states.
She needs to be asked but won't. They'd never pose that question on right wing outlets and you won't be seeing her on 60 Minutes anytime soon I'm guessing.
Had no idea!
Now I know! Thank you Bruce.
Thanks Herb. He's probably busy trolling other liberal forums. I was going to ask him to "prove it" but you did a nice job. And as Fern says, "Don't feed it!"
Ummm. The SD angle is in the International Consortium of Independent journalism exposé, guys. And of course, all over WaPo. (WashPost) Let’s be expanding our go-to reliable news sources. (AND subscribing to them, if we want to keep this democratic republic of ours.)
And the source of that money is generally owned by liberal Democrats living in New York and California.
I've seen enough of rich "liberal" Democrats to believe you have a point, but do you have any concrete evidence?
THERE’s our troll for today!!!!
Considering the size of this list, I'm amazed that there are so few trolls. OTOH, I believe they have to subscribe to post. That helps!
There is a news headline in what you assert, J Boone..."Liberal Democrats in NY and CA hide their millions in South Dakota". Wonder if the locals agree ??
At the core of the problem are all the politicians from both parties that conspire with the wealthy in the high-stakes game of politics. It is quid pro quo on steroids.
It's on full display with every piece of legislation. It's why Biden's $6-trillion Build Back Better proposal has been quickly cut down to as low as $1.5 trillion by the corporate centrist branch of the Democratic Party. It doesn't help when supporters are so willing to compromise on widely lauded and supported legislation just to make a deal.
The other piece of it, as Heather mentioned, is how politicians constantly divert attention from their larcenous ways by distracting most of us with issues that divide and alienate voters. Republicans are masters at this and Democrats participate by default!
As Janet W. noted this has been going on for a very long time. Does anyone believe that politicians will come together, grow a spine, and stand up to the wealthy? I don't.
Great comments, Janet!
I was working in the institutional investment management business in the mid-1970's when the industry was solidly under the control of privileged white men (young and old) and offshore accounts (specifically Bermuda) were a financial haven for the affluent of the time! While the wealth factor definitely was there, it wasn't even a blip on the charts compared to today. It has all grown to monsterous levels. For the most part those with wealth and/or privilege have been enabled to accumulate concentrations of riches and influence unheard of in any other time period. They were and are the gatekeepers!
I used to work for Fireman’s Fund Insurance. Their stock is White Mountains. Warren Buffett is an investor. In the latter part of tge 80’s, they moved their operations to Bermuda. I figured it out after I left the company. Took my stock and reinvested elsewhere.
And...while the ultra rich of this country continue to build their empires, We The People (most of us being NOT wealthy) are asked to subsidize our fellow Americans' grief, loss, operations, etc. through GoFundMe requests. We are told that religious institutions should take up the slack created by gutted social programs (think food pantries), but who will fund the religious organizations?...wait, I know...the poor and middle class (if there is any middle class left). We (retired on a fixed income and praying that our 401(k)s don't tank) are besieged by requests from all manner of charitable organizations, hoping beyond hope that we can make a "small monthly donation." At last count, I have 18 requests on my desk. At a minimal $5/month, that's $90 a month...and it doesn't begin to include the e-mail and social media requests. But it's OK to send the rich to space. (no, it's not OK...that was a snarky comment)
Fred, I can certainly relate, at about 30 mail requests for money each month. I've drawn the line at $20/year for about 8 different organizations...other than my church.
In the same shape as you guys. Waiting for the stock market to reflect what hit Brazil this year and devastated their coffee trees, in addition to their severe ongoing drought. Their orange trees are down as well, and corn for cattle and egg laying chickens. We will feel this! Starbucks and Dunkin are already scrambling for alternative sources for next year. Brazil is one of the two major exporters of Arabica coffee; the other is Vietnam, then Africa, I think.