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Millions of people have a queasy feeling that something is not right in the global economy - but they struggle to put their fingers on what exactly the problem is. Treasure Islands at last tells the real story of where it all went wrong. This is the great untold story of globalisation. Tax havens are not exotic, murky sideshows at the fringes of the world economy: they lie at its centre. Half of world trade flows, at least on paper, through tax havens. Every multinational corporation uses them routinely. The biggest users of tax havens by far are not terrorists, spivs, celebrities or Mafiosi - but banks. Tax havens are the ultimate source of strength for our global elites. Just as European nobles once consolidated their unaccountable powers in fortified castles, to better subjugate and extract tribute from the surrounding peasantry, so financial capital has coalesced in their modern equivalent today: the tax havens. In these fortified nodes of secret, unaccountable political and economic power, financial and criminal interests have come together to capture local political systems and turn the havens into their own private law-making factories, protected against outside interference by the world's most powerful countries - most especially Britain. Treasure Islands will, for the first time, show the blood and guts of just how they do it. Tax havens aren't just about tax. They are about escape - escape from criminal laws, escape from creditors, escape from tax, escape from prudent financial regulation - above all, escape from democratic scrutiny and accountability. Tax havens get rich by taking fees for providing these escape routes. This is their core line of business. It is what they do. These escape routes transform the merely powerful into the untouchable. "Don't tax or regulate us or we will flee offshore!" the financiers cry, and elected politicians around the world crawl on their bellies and capitulate. And so tax havens lead a global race to

By John B. Taylor This review is from a syndication service of The Washington Post. In "Reckless Endangerment," Gretchen Morgenson and Joshua Rosner argue that cozy connections between government and the financial industry were the primary cause of the financial crisis. While many economists-including this reviewer-have argued that government actions caused the crisis, Morgenson and Rosner use their investigative skills to dig down and explain why those actions were taken. The book focuses on two government agencies, Fannie Mae and the Federal Reserve. The mutual support system is better explained and documented in the case of Fannie, the government-sponsored enterprise that supported the home mortgage market by buying mortgages and packaging them into marketable securities, which it then guaranteed and sold to investors.

As Jeff writes in the introduction, the first part of Age of Greed "is mostly a story of business pioneers who fought government regulation or, through innovation, escaped government oversight," building on fear from punishing inflation in the seventies and a new post-Watergate distrust of government, "all the while diminishing the power of government and reinforcing the changing national attitudes." In the second part, "Once government was no longer a counterweight and a new political ideology cleared their path, financiers led the way... Debts more than innovation and technological progress became the economy's driving force. Financial businesses doubled in size compared to the economy and profits grew still faster. Hundreds of billions of precious American savings were wasted."

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The basic purpose of the orders was to enable working people to pool their financial resources to supply each other with essentials that the state and the capitalists would not, including life insurance, pensions, cradle-to-grave medical care, and homes and schools for destitute family members. Members paid dues, usually modest, to support these services, which sometimes included their own hospitals, clinics, orphanages, and schools. And unlike private employers, the orders fought hard and usually succeeded in keeping their promises to their members even when times were bad.

I'm genuinely excited today to announce the release of my new book, With Liberty and Justice for Some: How the Law is Used to Destroy Equality and Protect the Powerful. As of this morning, it is available in bookstores as well as for shipping online. The book focuses on what I began realizing several years ago is the crucial theme tying together most of the topics I write about: America's two-tiered justice system - specifically, the way political and financial elites are now vested with virtually absolute immunity from the rule of law even when they are caught committing egregious crimes, while ordinary Americans are subjected to the world's largest and one of its harshest and most merciless penal states even for trivial offenses. As a result, law has been completely perverted from what it was intended to be - the guarantor of an equal playing field which would legitimize outcome inequalities - into its precise antithesis: a weapon used by the most powerful to protect their ill-gotten gains, strengthen their unearned prerogatives, and ensure ever-expanding opportunity inequality. This is how I described that development in the book:

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MBA TERMS & GLOSSARY is an essential tool for Managers and MBA students. It is a wide-ranging and informative guide to all areas of business. It features up-to-date coverage of business terms from marketing to accounting, business strategy and supply chain management. It also includes US business terms, financial jargon, case studies and exercises.