
A quarter of Iceland’s cabinet members held offshore companies - hythloday
http://panamapapers.sueddeutsche.de/articles/56fec0cda1bb8d3c3495adfc/
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MrTonyD
I've known several senior executives in Silicon Valley and they all had many
offshore stocks. Once you got to know them, they freely admitted it (they were
legal, and set up by the Big 3 or Big 5 accounting firms.) But they usually
didn't talk about how offshore stocks were also used to "reward" competitors
for killing the right products, or dropping prices against other competitors.
And they were also used to finance other offshore companies providing fake
services to the US-based companies - so that profit could be turned to loss
and hidden offshore for individual executives or groups of executives. This
has been standard practice for decades.

And people wonder why the .1% has so much of our society's money -- while
others claim that it is just free market economy working fairly. I wish they
would catch a clue and make these financial instruments illegal except in very
rare and transparent cases.

