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JOSEPH E. STIGLITZ AND MARK PIETH – THE REAL SCANDAL BEHIND THE PANAMA PAPERS

I’ll confess that my jaw dropped when I looked beyond the headlines about the Panama Papers last spring and began to read the fine print. “Panama Papers” is shorthand for the widely publicized report of the International Consortium of Investigative Journalists, originally published on April 3, 2016. The story broke simultaneously on the I.C.I.J. Web site and in newspapers around the world …

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Paul Kiel – So Sue Them: What We’ve Learned About the Debt Collection Lawsuit Machine

A couple of years ago, we set out to find out more about the growing use of the courts to collect consumer debts. How many lawsuits are filed? Who is filing them? Who is getting sued? The suits are filed in state and local courts, and many states rely on antiquated systems or only keep data at the county level. …

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‘Why? And Why Now?’ Panama Papers ‘John Doe’ Steps Out of Shadows

The anonymous source behind the Panama Papers stepped out of the shadows on Friday to offer justification for what has been called the biggest leak in history. The whistleblower’s gender and name remain secret, as does their occupation. German newspaper Süddeutsche Zeitung, the leaker’s initial contact, has authenticated that the statement came from the Panama Papers source. “For the record, I do not work for any government …

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The War on Savings: The Panama Papers, Bail-Ins, and the Push to Go Cashless

Exposing tax dodgers is a worthy endeavor, but the “limited hangout” of the Panama Papers may have less noble ends, dovetailing with the War on Cash and the imminent threat of massive bail-ins of depositor funds. The bombshell publication of the “Panama Papers,” leaked from a Panama law firm specializing in shell companies, has triggered both outrage and skepticism. In …

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Jay Syrmopoulos – 10 Biggest Wall St. Banks Now Facing Legal Action for Price Fixing $320 Trillion Derivative Market

New York, NY – A class action lawsuit, filed last week, accuses two trading platforms and ten of Wall Street’s largest megabanks of conspiring to stifle competition in the $320 trillion dollar derivatives market for interest rate swaps. The lawsuit claims the banks “have been able to extract billions of dollars in monopoly rents, year after year, from the class …