Wednesday, May 6, 2009

How Tax Havens caused the crisis?

Sol Picciotto, an emeritus professor at Lancaster University and a senior adviser to the Tax Justice Network, wrote an article in the FT on how tax havens caused the credit crisis.

Absolute garbage. If the FT would post information from this guy, then they can post my blog articles as well.

I guess, in the sense of fairness, we have to hear all sides--regardless of how insane it is.

His main issue is that the lack of international cooperation, to help weed out tax dodgers, was a cause as to why the financial crisis happened. Well, he hedges himself, to say that this was not the only reason. Really?

In any event, we all know the cause of the crisis--greedy CDS traders!
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