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On the Media

The Ecstasy of Gold

On the Media

WNYC Studios

Magazine, Newspapers, Media, 1st, Advertising, Social Sciences, Studios, Radio, Transparency, Tv, History, Science, News Commentary, Npr, Technology, Amendment, Newspaper, Wnyc, News, Journalism

4.68.7K Ratings

🗓️ 10 November 2017

⏱️ 50 minutes

🧾️ Download transcript

Summary

The Paradise Papers and the industry devoted to keeping wealth hidden; journalism's "billionaire problem"; and how one Syrian refugee found himself in the Wild West in Sweden.

Transcript

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0:00.0

From WNYC in New York, this is on the media.

0:05.0

Brooke Gladstone is out this week. I'm Bob Garfield.

0:09.0

The week began with the dose of media coup deja vu.

0:14.0

Now, a new series of investigations reveals the offshore financial dealings

0:19.0

of some of the world's wealthiest people and biggest corporations.

0:23.3

The stories are tied to what's being called the Paradise Papers.

0:27.0

No, not the Panama Papers.

0:29.3

That was last year's massive leak that exposed tax dodges by corporations and rich individuals

0:34.7

through offshore accounts.

0:37.1

The Paradise Papers are a much bigger trove of documents that revealed even more rich people

0:43.5

avoiding even more taxes.

0:46.5

Nine trillion dollars in taxes, it's estimated.

0:50.0

Oh, plus this little nugget.

0:52.3

One of many investigations getting a lot of attention,

0:54.9

the investments of Commerce Secretary Wilbur Ross.

0:58.1

Ross kept a stake in a shipping company called Navigator Holdings

1:02.0

after he became secretary.

1:04.2

One of Navigator's top clients is the Russian energy company Seabor,

1:08.3

whose owners include Vladimir Putin's son-in-law and Kremlin-linked

1:12.5

oligarchs on the U.S. sanctions list. To be clear, this is not an allegation of wrongdoing,

1:18.4

but proof that the super-rich get to play by a different set of rules. As President Trump's

1:24.3

chief economic advisor, Gary Cohn, put it, this is the way that the world works.

...

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