Offshore by William Brittain-Catlin
The Dark Side of the Global Economy

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A revealing-and chilling-exposé on the hidden side of global wealth and power

A revealing-and chilling-exposé on the hidden side of global wealth and power Offshore is an unprecedented exploration of perhaps the most mysterious aspect of global society today-and one of the most provocative books about money and business to appear in the decade since the age of globalization began.

The world of offshore finance is one of dummy companies, shadow bank accounts, post office boxes, foreign registries, and the like, which allow giant corporations--such as Wal-Mart, British Petroleum, and Citigroup--to keep huge profits out of sight of investors, regulators, and the public.

Whether in the Cayman Islands or the shadowy redoubts of the Islamic financial center of Labuan, Malaysia, "offshore" is where the game of profit and loss is played. A third of the world's wealth is held offshore. Eighty percent of international banking transactions take place there. Half the capital in the world's stock exchanges is "parked" offshore at some point.

Trained as a reporter and a private investigator, William Brittain-Catlin brings both skills to this gripping book. He tells the story of how tax havens have become central to global finance today; in so doing, he takes us into the secret networks of Enron and Parmalat, behind international trade disputes, and into organized crime and terror networks, giving disquieting evidence that, through offshore practices, the key value of capitalism and civilization alike-freedom-is being put in grave danger.

 

About William Brittain-Catlin

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William Brittain-Catlin, born in 1966, has worked as a BBC producer and as an investigator for the corporate investigations firm Kroll Associates. He lives in London.
 
Published May 15, 2007 by Farrar, Straus and Giroux. 288 pages
Genres: Biographies & Memoirs, Business & Economics, Law & Philosophy, Education & Reference, Professional & Technical. Non-fiction

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the Saudi Arabian Bin Laden Corporation, source of the Al-Qaeda mastermind’s wealth, “is believed to operate through subsidiary holding companies in the Bahamas, the Virgin Islands, and Cayman.” The U.S. government, writes Brittain-Catlin, has done only a little to follow that money and stanch it...

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In this ambitious meditation on the soul of capitalism, "offshore" means places like the Cayman Islands, where shadowy holding companies process vast sums of money on behalf of corporate be

May 16 2005 | Read Full Review of Offshore: The Dark Side of th...

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