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Jacobin Radio

Behind the News: Offshore Capital w/ Brooke Harrington

Jacobin Radio

Jacobin

Socialism, History, News, Left, Jacobin, Alternative, Socialist, Politics

4.71.5K Ratings

🗓️ 3 December 2024

⏱️ 53 minutes

🧾️ Download transcript

Summary

Brooke Harrington, author of Offshore, uncovers how and where the mega-rich stash their cash. Mahendran Thiruvarangan talks about a new leftish government in Sri Lanka.

Behind the News, hosted by Doug Henwood, covers the worlds of economics and politics and their complex interactions, from the local to the global. Find the archive online: https://www.leftbusinessobserver.com/radio.html

Transcript

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0:00.0

The

0:07.0

The Hello and welcome to Behind the News. My name is Doug Henwood. According to a directive from the

0:37.7

Department of Best Practices, two guests today. Brooke Harrington will talk about offshore wealth,

0:43.2

and Manhedron-Turvangan will talk about the new leftish government in Sri Lanka.

0:48.4

Most of us are aware of the fact that vast pots of money are stashed in tax shelters around the world.

0:54.0

How does that all work?

0:55.6

Who are the money stashers and who are the technicians that make their secrecy possible?

1:00.0

Here with some answers to those questions is Brooke Harrington, a professor of sociology at

1:04.4

Dartmouth. She was on this show in November 2017 just after the release of the Paradise

1:09.7

Papers, a set of electronic documents that

1:12.2

were leaked from a law firm called Appleby, which specializes in offshoring money. Appleby has offices

1:18.1

in all the major sites, like Bermuda, the British Virgin Islands, Jersey, and Mauritius.

1:23.3

Among those listed in the papers as having offshore accounts for Queen Elizabeth and her son

1:27.2

Charles,

1:28.0

many foreign political figures, including three former Canadian prime ministers,

1:32.6

several members of the first Trump administration, Madonna, George Soros, Jeffrey Epstein, and Bono.

1:39.5

Numerous brand-name corporations were also revealed as tax dodgers in the documents.

1:45.3

That release came a year and a half after the release of the Panama Papers, a similar set of electronic documents.

1:50.1

And then in 2021, came the Pandora papers, sourced from a number of operators in the offshore industry,

1:55.1

which revealed offshore holdings of 35 political figures from around the world and 100 business people and celebrities.

2:02.7

Despite the rich detail and all the names named, there was remarkably little political fallout

2:07.2

from the revelations.

...

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