A thrilling ride inside the wo r ld of tax havens a nd co r po r ate masterminds

While the United States experiences recession a nd economic stagnation a nd European countries face bankruptcy, experts struggle to make sense of the crisis. Nicholas Shaxson, a fo r mer co r respondent fo r the Financial Times a nd The Economist, argues that tax havens are a central cause of all these disasters.

In this hard hitting investigation he uncovers how offsho r e tax evasion, which has cost the U.S. 100 billion dollars in lost revenue each year, is just one item on a long rap sheet outlining the damage that offsho r ing wreaks on our societies. In a riveting journey fr om Moscow to London to Switzerla nd to Delaware, Shaxson dives deep into a vast a nd secret playground wh ere bankers a nd multinational co r po r ations operate side by side with nefarious tax evaders, o r ganized criminals a nd the wo r ld's wealthiest citizens. Tax havens are wh ere all these players get to maximize their own rewards a nd leave the middle class to pick up the bill.

With eye opening revelations, Treasure Isla nds exposes the culprits a nd its victims, a nd shows how:

*Over half of wo r ld trade is routed through tax havens

*The rampant practices that precipitated the latest financial crisis can be traced back to Wall Street's offsho r ing practices

*Fo r every dollar of aid we send to developing countries, ten dollars leave again by the backdoo r

The offsho r e system sits much closer to home than the pristine tropical isla nds of the popular imagination. In fact, it all starts on a tiny isla nd called Manhattan. In this fast paced narrative, Treasure Isla nds at last explains how the system wo r ks a nd how it's contributing to our ever deepening economic divide. أقرأ أقل