Press Briefing for the Walking Tour of Banks based in Jersey's tax haven

Press Briefing for the Walking Tour of Banks based in Jersey's tax haven.
In our guided tour of the financial district of Saint Helier, Jersey, we set out to make the link between secrecy jurisdictions and global crisis.

Selected global banks, including Barclays, BNP Paribas, Citi, Deutsche Bank, RBS International, Société Générale and UBS, were use as case studies to illustrate how deeply engaged banks are in promoting capital flight from poorer countries, in facilitating tax evasion, in supporting corrupt regimes, in financing ecologically harmful projects, and in undermining regulation.

We also showed how the secretive world of tax havens has acted as the crucible for much of the financial innovation of the past 20 years, including the growth of offshore hedge funds, the hosting of the shadow banking system, the creation of securitised debt obligations, the increased use of "off-balance sheet" accounting, and the spread of highly-leveraged private equity financing.
Antonio Tricarico (CRBM), Nick Hildyard (The Cornerhouse), John Christensen (Tax Justice Network) and others.
St. Helier, 13th March 2009

More info:
http://www.rethinkingfinance.org
http://www.ifiwatch.tv
http://www.taxjustice.net
http://www.waronwant.org
http://www.CRBM.org
http://www.thecornerhouse.org.uk

Category:

News & Politics

Tags:

• crisis of capitalism

[zoeyou]

presumably because jesus threw the money lenders out of the temple, it's easier for a camel to pass through the eye of a needle than a rich man to go to heaven, and in theory at least, the church is against injustice.. but you'd better ask them...

[aethiops007]

Why is the Catholic Institution involved?