Daily News Digest April 7, 2016

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Daily News Digest April 7, 2016

Inside the Panama Papers: Massive leak shows just how extensive corruption is worldwide, implicating politicians, human traffickers and drug dealers: One of the biggest leaks in history exposes how global elites and their relatives hide money in offshore tax havens by Ben Norton

PanamaPapersImages of the Day:

Sack cartoon: The ‘Panama Papers’ImageoftheDaySteve Bell on David Cameron and the Panama PapersImageoftheDay2Quotes of the Day:

This is actually not the first time Mossack Fonseca has been exposed. Investigative journalist Ken Silverstein released a report in December 2014 detailing how the law firm works with oligarchs, money launderers and dictators. A year and a half later, however, the release of a gargantuan cache of the company’s records show just how far this network of corruption spreads around the globe. The release of the Panama Papers comes mere days after the revelation of another scandal involving the shadowy company Unaoil. An explosive investigation found that the Monaco-based company exploits the widespread corruption in the Global South, charging multinational corporations multi-million dollar fees and then bribing government officials in oil-rich countries in order to get good deals for these companies. In the process, the little-known firm fuels inequality and helps destabilize natural resource-rich conflict areas in these countries, some of which are also implicated in the Panama Papers scandal. Both leaks shine further light on the international schemes of economic and political elites. — Inside the Panama Papers: Massive leak shows just how extensive corruption is worldwide, implicating politicians, human traffickers and drug dealers

It’s hard to know where to start in tallying up the explosive revelations in the Panama Papers, an analysis of leaked documents from global law firm Mossack Fonseca revealed by the International Consortium of Investigative Journalists (ICIJ). Yes, we’ve known for a while now that the shadow financial system was growing. But it’s another thing to take in 11.5 million documents showing the way in which Mossack Fonseca was working with big name financial groups like UBS, HSBC, Société Générale, and many others to help elites from the Communist Party leadership of China, to soccer star Lionel Messi, to global financiers hide cash in offshore havens around the world. It’s just the tip of a much bigger iceberg. “The size of the leak is unprecedented, but the tricks Mossack Fonseca has allegedly used for its clients are neither new nor surprising. Anonymous shell companies and the failure of governments to require lawyers, corporate service companies, or banks to collect beneficial ownership information on clients leave the door wide open for dirty money to flow around the globe virtually unhindered,” says Heather Lowe, the Director of Government Affairs for Global Financial Integrity, a Washington DC-based consultancy. — Time Magazine, The Panama Papers Could Lead to Capitalism’s Great Crisis

It is interesting but not at all mysterious that there are no Americans named in the Mossack Fonseca documents. The reason is simple. U.S. law so clearly favors the rich that they have no need to go offshore to form shell corporations. They can do so legally in Wyoming, Delaware or Nevada. Rich people everywhere know it too. No need to go to Panama or Switzerland. The U.S. is now the best tax haven on the planet. Hopefully the corporate media will decide to cover that story too. — Freedom Rider: The Panama Papers Problem

Video the Day:

In Shock to Wall Street & Washington, Puerto Rico Moves to Suspend Payments on $72B Public Debt

U.S.:

Class-Action Suit Targets System That Added a Baby to Terrorist Watchlist By Ryan DevereauxClass_action Environment:

A ‘hothouse’ Planet Earth is about to enter uncharted waters By Stewart Smith

Fossil fuel use must fall twice as fast as thought to contain global warming — study By Tim RadfordTedRadford

Ongoing/Big Energy Disasters!:

Energy News:

06:30 PM EST on April 4th, 2016 | Scientists: “Unprecedentedly huge mortality events” happening along US West Coast — “Die-offs… are ongoing and severe!… Really a big story” — We had diversity, we had organisms in the water… then all of a sudden we saw nothing, it was really striking (VIDEO)

Black Liberation/Civil Rights:

BarFreedom Rider: The Panama Papers Problem by BAR editor and senior columnist Margaret KimberleyBarMargaretKimberlyA Few Black Caucus Members Have Some Questions About Israel A Black Agenda Radio commentary by executive editor Glen FordBarGlen FordPetition to Fire Environmental Protection Agency Administrator Gina McCarthy for Gross Negligence in the Flint Water Crisis by BAR editor and columnist Dr. Marsha Coleman-AdebayoarMarsha ColemanThe 2016 Elections Reflect General Crisis of Imperialism by Danny HaiphongBarDanny HaiphongMy Wise Country Cousin on Mule Dung at the Apollo by BAR poet in residence Raymond Nat TurnerBARRaymndTaylorThey Call Me MISTER Picasso! by Dan De Leon BarDan De LeonKatrina, Climate Justice and Fish Dinners: Social Justice Lawyer Colette Pichon Battle By Bill QuigleyBarBill QuigleyWestern Sahara: Another Misinformed Imperial Analysis by Dr. Fikrejesus AmahazionBarFikrejesus AmahazionMillions Starve as Ethiopia Rejects Eritrean Ports by Thomas MountainBarThomasMountain Labor:

Economy:

The British steel crisis and the anarchy of capitalism  By Rob Sewell

RobSewell

World:

The Panama Papers and the corruption of capitalism by Roberto Sarti and Ben Gliniecki

RobertoSarti

Health, Education and Welfare:

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