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    Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens (Hardback) By (author) Nicholas Shaxson

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    DescriptionA thrilling ride inside the world of tax havens and corporate mastermindsWhile the United States experiences recession and economic stagnation and European countries face bankruptcy, experts struggle to make sense of the crisis. Nicholas Shaxson, a former correspondent for the "Financial Times "and "The Economist," argues that tax havens are a central cause of all these disasters.In this hard hitting investigation he uncovers how offshore tax evasion, which has cost the U.S. 100 billion dollars in lost revenue each year, is just one item on a long rap sheet outlining the damage that offshoring wreaks on our societies. In a riveting journey from Moscow to London to Switzerland to Delaware, Shaxson dives deep into a vast and secret playground where bankers and multinational corporations operate side by side with nefarious tax evaders, organized criminals and the world's wealthiest citizens. Tax havens are where all these players get to maximize their own rewards and leave the middle class to pick up the bill.With eye opening revelations, "Treasure"" Islands"""exposes the culprits and its victims, and shows how: *Over half of world trade is routed through tax havens*The rampant practices that precipitated the latest financial crisis can be traced back to Wall Street's offshoring practices*For every dollar of aid we send to developing countries, ten dollars leave again by the backdoorThe offshore system sits much closer to home than the pristine tropical islands of the popular imagination. In fact, it all starts on a tiny island called Manhattan. In this fast paced narrative, "Treasure"" Islands" at last explains how the system works and how it's contributing to our ever deepening economic divide.

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    Treasure Islands
    Uncovering the Damage of Offshore Banking and Tax Havens
    Authors and contributors
    By (author) Nicholas Shaxson
    Physical properties
    Format: Hardback
    Number of pages: 264
    Width: 155 mm
    Height: 236 mm
    Thickness: 28 mm
    Weight: 499 g
    ISBN 13: 9780230105010
    ISBN 10: 0230105017

    B&T Merchandise Category: GEN
    B&T Book Type: NF
    BIC subject category V2: KFFD1
    BIC E4L: FIN
    B&T Modifier: Region of Publication: 01
    BIC subject category V2: KFFK
    Nielsen BookScan Product Class 3: S4.9
    B&T Modifier: Academic Level: 05
    B&T General Subject: 180
    B&T Modifier: Geographic Designator: 01
    Ingram Subject Code: BE
    B&T Modifier: Subject Development: 04
    Libri: I-BE
    BISAC V2.8: BUS004000
    LC subject heading: ,
    B&T Approval Code: P47352500
    LC subject heading:
    Warengruppen-Systematik des deutschen Buchhandels: 17750
    BISAC V2.8: BUS064000
    B&T Approval Code: A39404400, A47244500
    DC22: 364.1/338
    LC classification: HV6344.U6 S53 2011
    LC subject heading: , ,
    DC22: 364.1338
    DC21: 364.1338
    BISAC V2.8: BUS064020
    BISAC region code:
    Thema V1.0: KJK, KFFK, KFFD
    Palgrave MacMillan
    Imprint name
    Palgrave MacMillan
    Publication date
    12 April 2011
    Publication City/Country
    New York, NY
    Author Information
    Nicholas Shaxson is a journalist who has written for the "Financial""Times," "The Economist Group," "African Energy," and the insider newsletter "Africa Confidential." He is the author of the highly acclaimed "Poisoned Wells: The Dirty Politics of African Oil" and an associate fellow with the Royal Institute of International Affairs in London.
    Review quote
    "This book is a vigorous and well researched polemic against financial deregulation..."--Richard Cooper, "Foreign Affairs""Shaxson's story of offshore banking is nothing short of Shakespearean, a drama full of secrecy, treachery and corruption in which wealthy countries, companies and individuals collude to horde wealth in a complex global network of largely unregulated tax havens. To realize this end, they install corrupt leaders, exploit indigenous populations and, ultimately, deny both developed and developing nations of vital tax dollars. There is much here that should generate outrage...An admirable job of both arguing the consequences of offshore banking and providing a succinct history of the practice."--"Kirkus""A blistering account of the role that tax havens play in international finance. . . brilliant."--"London Review of Books""Perhaps the most important book published in the UK so far this year."--George Monbiot, "The Guardian""Shaxson provides a fascinating narrative that is both analytically compelling and rich in institutional detail."--"New York Times" Economix blog"A useful critique."--Tyler Cowen, Marginal Revolution"Treasure Islands, Nicholas Shaxson's excellent book on the global offshore tax system."--FT Alphaville"Treasure Islands has prised the lid off an important and terrifying can of worms."--"Literary Review""Shaxson shows us that the global financial machine is broken and that very few of us have noticed."--"New Statesman""In this riveting, well-written expose, Shaxson goes deep into the largely unexamined realm of offshore money. In the process, he reveals that this shadow world is no mere sideshow, but is troublingly central to modern finance, with the US and the UK as leaders. The resulting abuses are widespread, ranging from tax revenue stripping from African nations to individuals and corporations escaping enforcement and accountability. A must read for anyone who wants to understand the hidden reasons why