Friday, 8 April 2016

Corruption on a grand scale!

YESTERDAY, an editorial in the New York Times stated:
'The first reaction to the leaked documents dubbed the Panama Papers is simply awe at the scope of the trove and the ingenuity of the anonymous source who provided the press with 11.5 million documents - 2.6 terabytes of data - revealing in extraordinary detail how offshore bank accounts and tax havens are used by the world's rich and powerful to conceal their wealth or avoid taxes.'
Then we have the questions:
'After these revelations, will anything change?  Many formal denials and pledges of official investigations have been made.  But to what degree do the law and public shaming still have dominion over this global elite?'
Today, the Daily Mail reports:
'David Cameron is facing demands for his resignation after finally being forced to admit he had a £30,000 stake in his late father's offshore fund.  After days of failing to kill off questions, the Prime Minister dramatically declared last night that he had profited from shares in the Bahamas-based company.  He also conceded that some of the £300,000 left to him by Ian Cameron may have come from funds kept offshore.'
Opposition MPs are now insisting Mr Cameron should consider his position, accusing him of being 'less than honest' and 'speaking out of both sides of his mouth'.
In a TV interview last night, Mr Cameron said he and his wife Samantha had jointly held a stake in his father’s investment fund, Blairmore, which was registered in Panama and operated out of the Bahamas. 
He said they had sold the shares in January 2010 – four months before he became Prime Minister – for £31,500, pocketing a tax-free profit of just over £19,000 on the deal.  He also pledged to release his personal tax return in an attempt to limit the damage from his revelation.
It is hard to how an inquiry will resolve these damaging revelations or prevent corrupt politicians from hiding their assets from public view.  The only answer is, as one pundit said is that those caught should be 'roasted alive'!

1 comment:

Trevor Hoyle said...

David Cameron has repeatedly criticised Edward Snowden for leaking classified information showing that millions of personal emails and phone messages were spied on by the US and UK intelligence services.

On Monday, Cameron issued a statement that his tax affairs were "a private matter".
In a post on Twitter, Snowden wrote: "Oh, now he's interested in privacy."
The post has garnered over 25,000 re-tweets.