Largest date leak in global history 2.6 Terabytes.

Well here is a data leak for the record books.

Panama Papers - Politicians, Criminals, and Rouges hide their cash.

2.6 Terabytes of data, strangely enough no US politicians are listed yet. These guys make Bernie Madoff look like a candy thief.

I came in here just to post that. Thank you for getting to it last night! The best part is there is more to come. Just downright scary.

They said there would be US people in the second release.

Sadly I am sure a lot of this stuff won't really come as a surprise.

I knew that Panama was considered a safe place to conceal money. Protective laws towards bank. I do a good bit of business with Cayman Islands and expected this to be from there.

Huh, first the Unaoil leak and now this...I wonder if anyone will go to jail?

While I don't have a lot of trouble believing the subject matter of the story....Who might the ICIJ be that would reassure me this is not the national enquirer or just another e-mail phishing engine?

Anyone dare to sign up for the "Tour"?

If the leak is real, and my name was Ramon Fonseca or Jurgen Mossack, I would be looking for a place to hide right about now!

https://www.icij.org/about

In reply to NOHOME:

already arrested

Thats a lot of floppy disks!!

As a poor hourly worker I fail to see how it affects me, other than the given humor derived from seeing the rich and sleazy get their just comeuppance.

We're all still too comfortable (anesthetized) to take our displeasure to the street and erect guillotines on the courthouse lawns.

I can't wait for a current presidential candidate (or 2) to pop up in the names

captdownshift wrote: I can't wait for a current presidential candidate (or 2) to pop up in the names

I am thinking all BUT 2

Off I went down the rabbit hole to see where it leads. Seems like a legit news story. Some interesting stuff besides the individual being outed.

Funny enough, what is coming out of the story is that the USA has been on a major campaign to shut down all foreign tax havens where US citizens might hide, while simultaneously setting up the USA as the singular tax haven for the world.

Might partly explain how the "Leak" that shut these guys down happened.

Well played.

I guess since they haven't released the US names as of yet, it hasn't really made the news. I read about it last night and specifically had CNN and Al Jazzera news on this morning to see the difference. AJ mentioned it several times in the hour or so that I was watching, CNN didn't mention anything. But, I DO know every possible permutation/view/opinion on the GOP nominations. So, there's that.....

Reading through some of the docs, I can't figure out yet if it's a bit of trolling or if there really is something there. For example, the Iceland PM (I think that was the one), was on the list. But, he's stated that the dealings were to separate his wife's business interests from his because he's a political figure. That seems like a legitimate reason to have one.

As with any of this stuff, there's the most extreme opinions are getting the press, and the truth will be somewhere in the middle.

-Rob

Good related article:

http://www.wired.com/2016/04/reporters-pulled-off-panama-papers-biggest-leak-whistleblower-history/

So has a specific group claimed responsibility for this and the big oil leak about a month ago. If so I want to buy them a beer.

I think that Al Jazzera pretty much nails it with this statement:

the unprecedented leak of nearly 40 years' worth of documents (more than 11 million documents on more than 210,000 companies, trusts, foundations, and world leaders), revealing that Mossack Fonseca offered its services to facilitate money laundering, tax avoidance, and criminal activity should surprise no one.

The Panama Papers leak shows that it is not just the global tax system that is broken, but global governance itself.

Anyone else remember when CNN was the trusted voice of News and Al Jazzera was a fringe source of information? How did that ever get turned around so far?

NOHOME wrote: I think that Al Jazzera pretty much nails it with this statement:

the unprecedented leak of nearly 40 years' worth of documents (more than 11 million documents on more than 210,000 companies, trusts, foundations, and world leaders), revealing that Mossack Fonseca offered its services to facilitate money laundering, tax avoidance, and criminal activity should surprise no one.

The Panama Papers leak shows that it is not just the global tax system that is broken, but global governance itself.

Anyone else remember when CNN was the trusted voice of News and Al Jazzera was a fringe source of information? How did that ever get turned around so far?

Money, money, money..... Gotta bring in the viewers, so make sure an concentrate on the most outlandish stories to keep the viewers "entertained" rather than educated.

Which is probably why Al Jazeera being cancelled in April. Sad, really, as I was starting to watch them a lot more than the "other" channels. http://www.breitbart.com/big-journalism/2016/01/13/3-down-2-to-go-al-jazeera-america-to-shut-down-in-april/

-Rob

rob hit it. People don't want information anymore they want to be entertained and have their own opinions shouted back at them with vigor in a different voice.

News of this finally hit my office. Some locals have been caught, I haven't been able to figure out who yet. The woman at my office with the IS350 joked that she hopes she's not on the list...

So someone needs to explain to me how this works. Not the money hiding, that I get,also get the money laundering is obvious. But ultimately, capital is no good until you spend it. How do I go about spending the money without leaving a trace?

NOHOME wrote: So someone needs to explain to me how this works. Not the money hiding, that I get,also get the money laundering is obvious. But ultimately, capital is no good until you spend it. How do I go about spending the money without leaving a trace?

Be in post Soviet Russia????

FWIW, this is on The Guardian as well.

NOHOME wrote: So someone needs to explain to me how this works. Not the money hiding, that I get,also get the money laundering is obvious. But ultimately, capital is no good until you spend it. How do I go about spending the money without leaving a trace?

When it's not you that is spending the money. If a trust of some unknown source is paying for your luxury stuff, it's hard to figure out where that is coming from.

US author of live it, love it, earn it aaand hide it.

Maybe not much showing up in the US news, but the story is the lead for the BBC and in Germany.

I like the interactive game on the ICIJ site.