Sept 29, 2007
It’s that time of the year when the UN General Assembly opens and heads of state and foreign ministers meet up at parties and quiet gatherings and even give a few public speeches around town. A popular stop is the Council on Foreign Relations, where anyone representing an establishment view is assured of a warm welcome. 
French Foreign Minister Bernard Kouchner, famous as the founder of Médecins Sans Frontières (actually he was one of 12 doctor and journalist founders), spoke at the Council on Tuesday. In his introduction Felix Rohatyn, the prominent investment banker, US ambassador to France in 1997-2000 and now an advisor to the chairman of Lehman Brothers, said, “There are very few people who act according to their principles. Bernard Kouchner acts on his principles, and that’s a very rare virtue, especially in a politician.”
I was hopeful that Minister Kouchner, a Socialist who has joined a conservative government, would display these principles in his answer to my question about a corruption scandal that could be the French Watergate. However, the minister displayed the not-so-rare political attribute of solidarity with high-level officials who want to suppress evidence of corruption.
Sept 17, 2007
There’s an astonishing article in the Washington Post’s Business Section (“Risk. Now They See It. Now You Don’t.“ Sept 16, 2007)
The Post, which has never, ever, railed against tax havens, is now suggesting that their use to cheat tax authorities and investors threatens the entire global financial system. Of course, it doesn’t put it so starkly, but that’s the gist.
The Post says, “Over the past few years, major banks figured out how to use “conduits” and “structured investment vehicles” to earn big fees while playing cute little games of tax and regulatory arbitrage and keeping it all pretty much hidden from investors.”
Where does The Post think those off-balance-sheet investment vehicles are? Most of Enron’s were in Grand Cayman. The Post should connect the dots. Tax and regulatory arbitrage plus hidden plus off-balance-sheet investment vehicles = offshore.
Why did regulators tolerate the use of offshore? Because global tax evasion and avoidance of regulation is something corporations want. That’s what offshore secrecy is for. Now, will Congress act, in spite of corporate power, when there is a threat to the entire global financial system?
September 17, 2007 | Posted in
Blog,
offshore,
tax evasion |
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Inter Press Service (IPS), Sept 13, 2007
In a new play by a Palestinian-American woman, two characters say in unison: “Oppression is like a coin maker. You put in human beings, press the right buttons and watch them get squeezed, shrunk, flattened till they take the slim shape of a two-faced coin, one side is a martyr, the other a traitor. All the possibilities of a life get reduced to those paltry two.”
In a strange coincidence — or maybe not so strange — that is also the theme of a play written in 1990 by an Israeli man. Both were commenting on the murderous violence that had engulfed Palestinians. Betty Shamieh wrote “The Black Eyed” after the 2001 attack on the World Trade Centre. Ilan Hatsor wrote “The Masked” a decade earlier during the first intifada. Both plays have made their way to off-Broadway in New York.
September 13, 2007 | Posted in
Theater |
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