The financial crisis mutates into a worldwide economic crisis. Corporate fraud, regulatory failure and expansion of the financial sector lead to atrophy of public spirit. Harry Hopkins and FDR created 4 million jobs in 2 months. Work must be redefined and shared.
Video: Nicholas Shaxson, March 2011, author of Treasure Island: How Tax Havens Stole the World, 26 min
Nicholas Shaxson on Tax Havens, the Banking system & UK Uncut
"According to the Golden Rule, those who have gold make the rules."
"If it's a crime to steal bacon, it's also a crime to steal billions."
"For a long while secrecy was regarded as a necessity and revealing secrets a crime."
"Journalists developed a worldview that taxes are bad and offshore is good.. Now public consciousness is changing and the worldview is being challenged."
The revenue crisis is a crisis of corporate tax evasion. If corporations in the US paid 41% (the 1961 tax rate) instead of 11% (today's effective rate), the deficit would be drastically reduced.
Nicholas Shaxson, journalist, writer, consultant, and author of Treasure Islands: Tax Havens and the Men Who Stole the World, gives an insight into his book, Tax Havens, the UK Banking system, UK Uncut and the mechanics of Tax avoidance.
Original: Video: Tax Havens and the Men Who Stole the World