Yet more non-shocking, but completely repulsive news: these crooks aka "managers" and "best and brightest" are setting up reinsurance companies in Bermuda to help them avoid taxes in the US. The link's at the bottom. John Paulson and others involved. There's also a link to the IRS because maybe they might care to end these games (or crimes) by the big boys.
Yes, that's right, hedge fund managers now of all a sudden are interested in the reinsurance game. The funny thing about that (besides the obvious fact that insurance used to have nothing to do with hedge funds and banksters) is that AIG was also a big reinsurance player, was actually involved in the game (not strictly for tax purposes), linked to Bermuda, and still faced destroying the entire global economy unless we, the taxpayers, bailed it out.
But now we have billionaire idiots that can't beat market indexes, earning billions in management fees, and are getting into "insurance" in tax havens for a very obvious purpose of avoiding US taxes. Oh, to top it off, their entry into the actual reinsurance game puts us all, again, at very real risk because INSURANCE and REINSURANCE aren't supposed to be tools for tax evasion, but are actually supposed to be safe, conservative backups when things go wrong for people and businesses that rely on it. No taxes, companies and individuals brazenly evading US taxes by setting up sham or legitimate companies meant solely to avoid taxes, money laundering?, and endangering the global economy once again. How are these not sham companies and transactions a la Enron and KPMG and Arthur Andersen? Hey, buddy, can you spare a dime, because close to 30 million of us here never evaded taxes, never laundered money, but we can't afford to feed ourselves or families and we're scum? Screw this circus, it's vomit-inducing.
And of course regulators, bankster-owned media, big law firms, politicians, and anyone else in the corruption game will say it's all legal and fine because of a "lack of clarity" or it's not illegal at the same time demanding less regulation and fewer laws and ethics because rules, laws, ethics, and enforcement only hurt tax-evading banksters and job killers. $1 billion? Damn, these people begrudge the little folks that want to earn $30,000, or $50,000, or $60,000 for jobs that actually help other people or create real value, but not paying $1 in taxes is too much for them? Here are the links.