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Dirty Business: Swiss Oil Traders Caught Exporting Daesh-Extracted Oil - 0 views

  • Swiss oil traders might have gotten themselves into some trouble after it was revealed that they regularly imported oil from terminals in Turkey, where Daesh, also known as ISIL/ISIS, sold their illegal oil supply, the Swiss newspaper Le Matin reported.The newspaper obtained documents showing that several major Swiss petroleum trading companies exported oil from the Turkish city of Ceyhan, one of the places in the country where Daesh-extracted oil was sold. "The risk [of Swiss companies importing Daesh-oil] is very high," said Jean-Charles Brisard, a French expert on terrorism financing, according to Le Matin. As Daesh sold oil for a cheaper price than its official market price, many customers didn't mind buying it, although there was an official ban to purchase oil from Daesh-controlled territories.
  • An investigation carried out by Le Matin shows that several Swiss companies recently purchased oil from the port of Ceyhan. Previously, it was reported that Daesh transports oil and petroleum products to Turkey using a complex system that involves a wide network of middlemen. Turkey has long been the main destination for petroleum products, stolen by Daesh from numerous oilfields in Iraq and Syria. In early December, the Russian Ministry of Defense released satellite images showing columns of trucks on their way from the territories controlled by the militants to Turkey.
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Benjamin Netanyahu Admits That Israeli Forces Operate in Syria - 0 views

  • Israeli Prime Minister Benjamin Netanyahu said on Tuesday that Israeli forces operate in Syria from “time to time.” It is the first public recognition of Israel’s military involvement in its neighboring war-torn country. The Israeli leader said that forces carry out operations to prevent weapons transfers to Lebanon, where Iranian-backed Shiite militant group Hezbollah—which went to war with Israel in 2006—operates, and to stop southern Syria becoming a front against Israel. "We operate in Syria from time to time to prevent it from becoming a front against us, a second terror front against us," Netanyahu said at the Galilee Conference in the northern Israeli city of Acre, the Associated Press reported.
  • He added: "We are also acting of course to prevent the transfer of deadly weapons from Syria to Lebanon in particular and we will continue to do so.” Netanyahu did not elaborate further on Israeli operations in Syrian territory but Israeli forces have carried out airstrikes against a number of regime targets this year and have also attacked Hezbollah fighters—allies of Syrian President Bashar al-Assad— operating on its border. Israeli intelligence service Mossad has also been linked with the 2008 assassination of top Hezbollah commander Imad Mugniyah in Damascus. Other Israeli strikes in Syrian territory have been widely reported since the onset of the Syrian civil war in March 2011. The Israeli military acknowledged this year’s strikes but Israeli officials have never publicly admitted to the country’s involvement within Syrian territory.
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UK 'moving towards' military intervention against IS in Libya: Government source | Midd... - 0 views

  • The United Kingdom may soon begin bombing the Islamic State in Libya, following on from the recent decision to carry out air strikes against the group in Syria.A government source told the Daily Telegraph on Friday that the UK is “moving in the direction” of launching military action in war torn Libya, where IS has emerged out of a civil war that has paralysed the country since a revolution in 2011 overthrew long-time leader Muammar Gaddafi.“Things are moving in that direction. We are taking it one step at a time,” the source said.Ministers at the Foreign and Commonwealth Office told the Telegraph that they are “extremely concerned” by the rise of IS in Libya and want to intervene in the troubled North African country.Defence Secretary Michael Fallon said it is important “to keep an eye on Libya”, according to the Telegraph.Militants proclaiming affinity with IS have taken control in the central Libyan city of Sirte, and have carried out attacks across the country, including in the capital Tripoli and in the eastern town of Derna, where they have an ongoing presence.
  • Support for intervention in Libya is growing across Europe, with French Prime Minister Manuel Valls on Friday demanding that IS be confronted in Libya.“We are at war, we have an enemy, that we must fight and crush in Syria, in Iraq, and soon in Libya too,” he said.France has already sent reconnaissance plans over Libya to monitor militias battling on the ground for control of Africa’s largest oil reserves.The fear among Western officials is that IS may establish a presence along Libya’s Mediterranean coast in order to launch attacks against Europe.The group has already claimed responsibility for numerous attacks on European soil, including a string of massacres in Paris last month that saw 130 people killed.Middle East Minister Tobias Ellwood recently told MPs: “We are working closely with international partners to develop our understanding of its (IS’s) presence and how to tackle it there.”But any intervention in Libya will be dependent on a national unity government being formed. At the moment there are two rival administrations – one in the east and the other in Tripoli – who are vying for control, backed by opposing military forces waging war on the ground.
  • “There needs to be a recognised government in place in Libya that can ask us for help,” the government source told the Telegraph. “Then we will do whatever we can to help them deal with IS.”The rival Libyan parliaments have committed to signing a UN-backed deal to form a unity government next week. However, there remains staunch opposition to the agreement in both camps, with analysts suggesting a rushed deal will do little to bring a sustainable end to Libya’s civil war.
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    Down the Libya rabbit hole once more?
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Erdogan says no way Turkey will withdraw troops from Iraq | News , Middle East | THE DA... - 0 views

  • Turkey's President Tayyip Erdogan on Thursday said it was out of the question that Turkish troops would withdraw from Iraq after Baghdad accused Ankara of deploying soldiers there without permission.The row has badly soured relations between the two countries and saw the Turkish ambassador to Iraq summoned on Saturday to demand that Turkey immediately withdraw hundreds of troops deployed in recent days to northern Iraq, near the ISIS-controlled city of Mosul.Iraq's foreign ministry said Turkish forces had entered Iraqi territory without the knowledge of Baghdad, who view their presence as a "hostile act".Speaking at a press conference, Erdogan said that the troops were there for training Kurdish peshmerga fighters and not combat purposes. He also reiterated an earlier statement that they were deployed following an invitation by Iraqi Prime Minister Haider al-Abadi last year.
  • "The number of our soldiers (in northern Iraq) might increase or decreased depending on the number of peshmerga being trained," Erdogan stated. "Withdrawing our soldiers is out of the question for the moment."Erdogan said there would be a trilateral meeting between Turkey, the United States and Kurdish northern Iraqi authorities on Dec. 21 but made no mention of a possible meeting with Baghdad.Speaking to his counterpart earlier this week, the Turkish foreign minister emphasised Ankara's respect for Iraqi territorial integrity and said further troop deployments had been halted for now.
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Abadi Instructs FM to File Complaint at UN over Turkish Troops Deployment - 0 views

  • Iraqi Prime Minister Haidar al-Abadi on Friday instructed the Foreign Ministry to lodge an official complaint to the UN Security Council over the deployment of Turkish troops in northern Iraq.A statement by Abadi's office said the incursion by Turkish troops "is blatant violation of the provisions and principles of the UN Charter and a violation to the sovereignty of the Iraqi state, which happened without the knowledge and consent of the Iraqi authorities."Iraq demands the UN Security Council "to shoulder its responsibilities and orders Turkey to withdraw its troops immediately, and to ensure unconditionally withdrawal to the internationally recognized border between the two countries," the statement said.
  • On Thursday, an Iraqi foreign ministry spokesman said that Iraq has contacted the five permanent member states of the UN Security Council for condemning Turkey's deployment of troops on Iraqi soil.He also said that Iraq demanded an Arab League extraordinary session to "discuss the consequences of the Turkish breach (to Iraqi sovereignty) and adopt an Arab stance against it."Iraq's latest move came a day after the Turkish President Recep Tayyip Erdogan said that withdrawing Turkish troops from Iraq is out of the question and that the Turkish soldiers are in Iraq as part of a training mission."Turkish troops in Mosul are not there as combatants; they are trainers. Their numbers may vary depending on the size of Kurdish Peshmerga troops. It is out of the question, for now, to pull them out," he said.The crisis between the two countries sparked last Friday when reports said a Turkish training battalion equipped with armored vehicles was deployed near the city of Mosul to train Iraqi paramilitary groups in fighting the ISIL terrorist group.Mosul, the capital of Nineveh province, has been under ISIL control since June 2014.
  • Baghdad has insisted that the Turkish troops had no authorization from the Iraqi government and thus demanded their withdrawal, while Ankara called the troops only a routine rotation of the trainers.
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Iraq appeals to UN and demands Turkey withdraw troops from its north | World news | The... - 0 views

  • Earlier on Friday, Abadi asked his foreign ministry to submit a complaint to the United Nations about the presence of Turkish troops near the Isis-held city of Mosul. Abadi asked the security council to “shoulder its responsibilities” and order the withdrawal of the Turkish troops. “This is a flagrant violation of the provisions and principles of the UN charter and in violation of the sanctity of Iraqi territory,” a statement from his office said. US ambassador Samantha Power, the current council president, said on Friday night: “There’s growing alarm from the Iraqi government. Any troop deployment must have the consent of the Iraqi government.”
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    And the U.S. said, "Any troop deployment must have the consent of the Iraqi government."  Sounds like Turkey may get pushed back to its border. 
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Putin's Revenge? The Fight for the Border - 0 views

  • “We have received additional information confirming that the oil controlled by Islamic State militants (ISIS) enters Turkish territory on an industrial scale. We have every reason to believe that the decision to down our plane was guided by a desire to ensure the security of this oil’s delivery routes to ports where they are shipped in tankers.” –Russian President Vladimir Putin, Paris, 11-30-15
  • In candid remarks to the Russian media, Putin implicated the US in the downing of the Su-24 stating that the US military was briefed on the warplane’s flight path and then immediately passed along that information to Turkey. Here’s what he said: “We told our US partners in advance where, when at what altitudes our pilots were going to operate. The US-led coalition, which includes Turkey, was aware of the time and place where our planes would operate. And this is exactly where and when we were attacked. Why did we share this information with the Americans? Either they don’t control their allies, or they just pass this information left and right without realizing what the consequences of such actions might be. We will have to have a serious talk with our US partners.” Putin’s damning remarks have not appeared in any of the western media. The censorship of this information is similar to the blackout of comments Putin made just two weeks earlier at the G-20 summit where he announced that “40 countries” are financing ISIS including members of the G-20.
  • Here’s an except of Putin’s bombshell announcement: “I provided examples based on our data on the financing of different Islamic State units by private individuals. This money, as we have established, comes from 40 countries and, there are some of the G20 members among them,” Putin told the journalists. “I’ve shown our colleagues photos taken from space and from aircraft which clearly demonstrate the scale of the illegal trade in oil and petroleum products. The motorcade of refueling vehicles stretched for dozens of kilometers, so that from a height of 4,000 to 5,000 meters they stretch beyond the horizon,” Putin added, comparing the convoy to gas and oil pipeline systems.” (Putin: ISIS financed from 40 countries, including G20 members, RT)
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  • It’s clear that Russia’s bombardment of jihadi groups operating near the Turkish-Syrian border has Turkish President Recep Tayyip Erdogan worried. Erdogan has long hoped that the area would be turned into a Safe Zone where Sunni militants– committed to removing Assad from power– could receive weapons and other support from their sponsors while coming and going as they pleased. The Russian-led coalition’s attempt to retake the area and seal the border to stop the flow of terrorists from Turkey, is probably what precipitated the attack on the Russian warplane. It was a desperate attempt to wave-off the Russian offensive and reverse the course of the war which has turned decisively in Assad’s favor. As for the militant groups that are operating in this area, analyst Pepe Escobar sums it up like this in a recent post at Sputnik News: “The Su-24s were actually after Chechens and Uzbeks — plus a few Uyghurs — smuggled in with fake Turkish passports (Chinese intel is also on it), all of these operating in tandem with a nasty bunch of Turkish Islamo-fascists. Most of these goons transit back and forth between the CIA-weaponized Free Syrian Army (FSA) and Jabhat al-Nusra. These were the goons who machine-gunned the Russian pilots as they parachuted down after the hit on the Su-24…. Turkey, for all practical purposes, has been a handy, sprawling Salafi-jihadi Infrastructure and Logistics Center; it offers everything from porous borders enabling countless jihadi return tickets from Syria to Europe, facilitated by corrupt police, to a convenient crossroads for all kinds of smuggling and a hefty money laundering ops.” (Sultan Erdogan’s War on…Russia, Pepe Escobar, Sputnik)
  • Escobar sums up Ankara’s role in Syria as succinctly as anyone. Erdogan has been ISIS best friend, of that, there is little doubt. The problem that Turkey faces now is that the Russian-led coalition is rapidly destroying the infrastructure that provides funding for ISIS, (oil refineries, fields and transport) while gradually retaking territory that was formally-controlled by the many anti-regime or al Qaida-linked groups in the north, west and central parts of the country. In the last few days alone, Russia and Co. have concluded the encirclement of Syria’s biggest city, Aleppo, vaporized a convoy of over 500 oil trucks in the vicinity of Raqqa, and intensified their bombing in the Turkmen Mountains, the Kurdish Mountains, and the Prophet Jonah Mountains. The coalition has moved as far north as Azaz along the Turkish border and recaptured the strategic Aleppo-Raqqa highway which completely cuts off ISIS supply-route from the east in Raqqa. All of the recent progress comes in the wake of the retaking of the strategic Kuweris Airbase which was the tipping point in the 4 and a half year-long conflict. Now the Russian coalition has focused on closing the border, a move that will sever vital supply-lines to pro-Turkish militias operating in Syria and force the terrorists to either flee or surrender. Russian Foreign Minister Sergei Lavrov emphasized this point last week saying, “We are convinced that by blocking the border we will in many respects solve the tasks to eradicate terrorism on Syrian soil.”
  • Keep in mind, that Erdogan is not the only one with designs on the so-called “Afrin-Jarabulus corridor” east of the Euphrates. Powerful politicians in the US, including John McCain, Lindsay Graham, Jeb Bush, Hillary Clinton and others, have all alluded to this area as the most suitable location for a no-fly zone. And, despite the fact that Obama refuses to send US ground forces to fight in Syria, he has continued to fuel the conflict in other less conspicuous ways. Just last Wednesday, under the cover of the Thanksgiving holiday when the media was preoccupied with other matters, Obama signed the National Defense Authorization Act of 2016 which provides another $800 million in aid to armed extremists in Syria and Ukraine. The NDAA, which effectively prevents the closing down of US concentration camp at Guantanamo Bay (Gitmo), reflects Obama’s determination to continue Washington’s vicious policy in Syria which has resulted in the deaths of more than 250,000 and the displacement of 11 million more. This helps to explain why the Russian offensive has set alarms off in Washington; it’s because the US plan to establish a permanent staging ground for terrorists in N Syria is quickly going up in smoke.
  • Seen in this light, Obama’s recent request for Turkey to deploy “30,000 (troops) to seal the border on the Turkish side”, (See: Wall Street Journal) should be viewed with extreme skepticism. Clearly, Washington has not relented in its “Assad must go” policy at all, in fact, Obama reiterated that mantra less than a week ago. That means the Obama crew may be hoping that Turkish ground forces can succeed where his jihadi proxies failed, that is, that the 30,000 troops will be used to clear and hold a 60×20-mile stretch of Syrian territory that can be used as the proposed safe zone. All Turkey would need is a pretext to invade and a little bit of air cover from the USAF. It wouldn’t be the first time a false flag was used to start a war. The bottom line is this: Putin had better move quickly before Washington and Ankara get their ducks in a row and begin to mobilize. The time to seize the border is now.
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Wells Fargo in Hot Water with US Regulators & Fed After Lawsuit - nsnbc international |... - 0 views

  • Wells Fargo is facing a probe by the Officer of the Comptroller of the Currency (OCC) and the San Francisco Federal Reserve Bank (SFFR) into their allegedly unethical business practices.
  • Back in May Wells Fargo was sued by employees (current and former) and customers all across the nation for setting up “unwanted accounts, unwarranted fees”. This lawsuit “contends the largest California-based bank violated state and federal laws by misusing confidential information and failing to notify customers when personal information was breached.” Using “aggressive tactics” to coerce new customers, WF made it “difficult to correct the mistakes” made by WF and return fees to customers because of “high-pressure sales culture set unrealistic quotas, spurring employees to engage in fraudulent conduct to keep their jobs and boost the company’s profits.” Los Angeles City Attorney Mike Feuer said: “In its push for growth, Wells Fargo often elevated its profits over the legal rights of its customers.”
  • For 2 years, Feuer has been investigating how WF “staffers, fearing disciplinary action from managers, begged friends and family members to open ghost accounts” and forged signatures “and falsified phone numbers” of customers who did not want to open an account. This practice drove WF success with an estimated “26% of the company’s revenue was from fee income, including those from credit and debit card accounts, trusts and investments.” WF not only stole money from customers but “also damage their credit scores” and put some into collections to garner fees “for unauthorized accounts went unpaid”. According to the 19-page complaint, WF would “sandbag” their customers; meaning “failing to open accounts when requested by customers, and instead accumulating a number of account applications to be opened at a later date.” Another devious tactic WF employed was “bundling” or “incorrectly informing customers that certain products are available only in packages with other products such as additional accounts, insurance, annuities, and retirement plans.”
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Martin Shkreli Arrested on Securities Fraud Charges - 0 views

  • Martin Shkreli, a boastful pharmaceutical executive who came under withering criticism for price gouging vital drugs, denied securities fraud charges on Thursday following an early morning arrest, and was freed on a $5 million bond. While the 32-year-old has earned a rare level of infamy for his brazenness in business and his personal life, what he was charged with had nothing to do with skyrocketing drug prices. He is accused of repeatedly losing money for investors and lying to them about it, illegally taking assets from one of his companies to pay off debtors in another. “Shkreli essentially ran his company like a Ponzi scheme where he used each subsequent company to pay off defrauded investors from the prior company,” Brooklyn U.S. Attorney Robert Capers said at a press conference.
  • Evan Greebel, a New York lawyer, who is alleged in the federal indictment to have helped Shkreli in his schemes, was also arrested and charged. Like Shkreli, he pleaded not guilty, and he was freed on a $1 million bond. Both men and their lawyers declined to comment after their court appearance.
  • Read the full text of the indictment here In the federal indictment and a complaint by the Securities and Exchange Commission, authorities say Shkreli began losing money and lying to investors from the time he began managing money. In his mid-20s, he got nine investors to place $3 million with him and at one point he had only $331. Securities fraud is hardly unheard of on Wall Streeet and the amounts involved here are nowhere near on the scale of Bernie Madoff. But Shkreli’s case has drawn such attention because of his defiant price-gouging and his own up-by-the-bootstraps history. The son of immigrants from Albania and Croatia who did janitorial work and raised him and his brothers in working-class Brooklyn, Shkreli seemed at first to embody the American dream and then to mock it. After dropping out of an elite Manhattan high school, he worked as an intern for Jim Cramer’s hedge fund as a 17-year-old and quickly impressed with his ability to call stocks. He created hedge funds, taught himself biology and, after earning a BA at Baruch College in New York City, began hedge funds investing in biotech.
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  • He became famous within a certain world but entered public consciousness after he raised the price more than 55-fold for Daraprim in September from $13.50 per pill to $750. It is the preferred treatment for a parasitic condition known as toxoplasmosis, which can be deadly for unborn babies and patients with compromised immune systems including those with HIV or cancer. His company, Turing Pharmaceuticals AG, bought the drug, moved it to a closed distribution system and instantly drove the price into the stratosphere. He drew shocked rebukes from Congress, doctors and presidential candidates, and brought public attention to the rising prices of older drugs. Donald Trump called Shkreli a “spoiled brat,” and the BBC dubbed him the “most hated man in America.” Bernie Sanders, the Democratic presidential candidate, rejected a $2,700 campaign donation from him, directing it to an HIV clinic. A spokesman said the campaign would not keep money “from this poster boy for drug company greed.” All the criticism seemed at first to have some impact and Shkreli said he would lower the price. Then he reneged. When Hillary Clinton tried one more time last month to get him to cut the cost, he dismissed her with the tweet “lol.” At a Forbes summit in New York this month, wearing a hooded sweatshirt, he said if he could have done it over, “I probably would have raised the price higher,” adding, “My investors expect me to maximize profits.”
  • Shkreli did further damage to his public image with other acts and boasts. He spent millions on the only copy of a Wu-Tang Clan album that music fans are desperate to hear and then told Bloomberg Businessweek that he had no immediate plans to listen to it. He takes often to Twitter and message boards, bragging about his business strategies, musical tastes and politics; he live-streams from his office for long stretches. The SEC complaint and federal indictment lay out a series of schemes and cover-ups carried out by Shkreli. Capers said authorities began investigating him as early as 2014.
  • Barely 23, he was managing hedge fund Elea Capital in New York and lost it all in 2007. Around then, a trade with Lehman Brothers ended with a $2.3 million judgment against him, prosecutors said. In 2010, he lost his clients’ $3 million investment in his new fund, MSMB Capital. In 2011, he bet that shares of Orexigen Therapeutics Inc. would fall and wound up owing $7 million to his broker, Merrill Lynch, authorities said. He couldn’t pay, and he, an unnamed accomplice and MSMB Capital eventually extinguished the debt with a $1.35 million settlement, they said. Part of that money came from his next firm, authorities said. After the collapse of MSMB Capital, Shkreli launched MSMB Healthcare with about $5 million from 13 investors. He paid himself “far in excess” of the agreed-upon 1 percent management fee and 20 percent profit incentive, according to the SEC.
  • Shkreli then used cash from MSMB Healthcare to invest in Retrophin, the pharmaceutical company he founded in 2011, even though it “had no products or assets,” prosecutors said. Later, he used the assets of Retrophin to repay angry investors in his hedge funds, prosecutors said. Shkreli is confident that he will be cleared of the charges, according to a statement on his behalf. Shkreli is particularly disappointed that his litigation with Retrophin has become a government enforcement matter, according to the statement. He also denied the charges regarding the MSMB entities, which he said involve complex accounting matters that prosecutors and the SEC fail to understand, according to the statement. “It is no coincidence that these charges, the result of investigations which have been languishing for considerable time, have been filed at the same time of Shkreli’s high-profile, controversial and yet unrelated activities,” according to the statement. “The government suggested that Mr. Shkreli was involved in a Ponzi scheme. Ponzi victims do not make money, yet Mr. Shkreli’s investors enjoyed strong results.”
  • As Shkreli’s losses mounted, so did his lies. He fabricated portfolio statements and, with his lawyer’s help, deceived the SEC and outside accountants. He backdated records, manufactured a phony loan agreement between Retrophin and a hedge fund, and created sham consulting agreements with Retrophin as a way to route the company’s cash to his earlier investors. Greebel, the arrested lawyer, made sure Retrophin’s outside accountants were unaware of Shkreli’s financial maneuvers and helped him concoct the consulting agreements used to repay the hedge fund investors, the U.S. said. The cases mirror a lawsuit brought by Retrophin. Shkreli blithely dismissed his old company’s claims, saying, “The $65 million Retrophin wants from me would not dent me. I feel great. I’m licking my chops over the suits I’m going to file against them.” Earlier, he had denied wrongdoing in a post on InvestorsHub after Retrophin disclosed it had received a subpoena from federal prosecutors and the preliminary findings from its own investigation of Shkreli. He called the company’s allegations “completely false, untrue at best and defamatory at worst.”
  • “Every transaction I’ve ever made at Retrophin was done with outside counsel’s blessing,” he said on the investment blog in February, without identifying the lawyers. When Shkreli was working for Cramer’s firm, he was still a teenager. After recommending successful trades, Shkreli eventually set up his own hedge fund, quickly developing a reputation for trashing biotechnology stocks in online chatrooms and shorting them, to enormous profit. Widely admired for his intellect and sharp eye, he set up Retrophin to develop drugs and acquire older pharmaceuticals that could be sold for higher profits. Turing, which is less than a year old and has raised $90 million in financing, has followed a similar strategy with the purchase of drugs, including Daraprim. Shkreli recently bought a majority stake in KaloBios Pharmaceuticals Inc. after Turing received a warning from the New York attorney general that the distribution network for Daraprim may violate antitrust laws. State officials made their concerns known to Turing and Shkreli in an Oct. 12 letter obtained by Bloomberg.
  • KaloBios recently acquired the license for benznidazole, a standard treatment for Chagas, a deadly parasitic infection most common in South and Central America. The firm announced plans to increase the cost from a couple hundred dollars for two months to a pricing structure like that for hepatitis-C drugs, which can run to nearly $100,000 for 12 weeks.
  • With the federal charges and regulatory actions, Shkreli could be banned from running a public company, which could put the future of KaloBios into question. Trading in KaloBios shares was halted after the stock fell 53 percent. It’s less clear what the impact could be on Turing, which is closely held.
  • Federal authorities will have to ask a judge to impose an asset freeze if they want to guarantee Shkreli doesn’t dispose of ill-gotten gains. The charges suggest that a small group of health-care firms—ones that acquire the rights to drugs and significantly increase their prices—is drawing the scrutiny of regulators and prosecutors, with a possible chilling effect on aggressive drug-pricing strategies. Legislators are already paying attention. A hearing of the Senate Special Committee on Aging on Dec. 9 scrutinized such tactics. Before Shkreli started Turing, Retrophin raised the price of Thiola, used to treat a rare condition causing debilitating recurrences of kidney stones, from $1.50 a pill to $30. “Some of these companies seem to act more like hedge funds than traditional pharmaceutical companies,” said Senator Susan Collins, a Maine Republican who ran the recent hearing. George Scangos, CEO of biotechnology giant Biogen Inc., went further, saying in an interview, “Turing is to a research-based company like a loan shark is to a legitimate bank.”
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    Couldn't happen to a nicer guy.
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Syria: Obama authorizes boots on ground to fight ISIS - CNNPolitics.com - 0 views

  • The United States is set to deploy troops on the ground in Syria for the first time to advise and assist rebel forces combating ISIS, the White House said Friday. White House spokesman Josh Earnest said that the U.S. would be deploying "less than 50" Special Operations forces, who will be sent to Kurdish-controlled territory in northern Syria. The American troops will help local Kurdish and Arab forces fighting ISIS with logistics and are planning to bolster their efforts.
  • The Special Ops troops will first be deployed to northern Syria to help coordinate local ground forces and U.S.-led coalition efforts to fight ISIS, the senior administration official said. The local forces in that area have been the most effective U.S. partners in confronting ISIS.
  • He was also careful to insist: "These forces do not have a combat mission."
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  • The President has approved a current cap of less than 50 troops, with the first contingent expected to be about two dozen. But more could be sent, the official said.
  • There will be additional Special Operations forces available for raids against targets in both Syria and Iraq when high-value ISIS targets are identified, the official said.The U.S. support for the anti-ISIS fighters has a crucial goal of making them capable of challenging ISIS control of its unofficial capital, Raqqa. The effort is to make them able to isolate, take control, and "ultimately hold" the key city, the official said. There is no prediction of when that might be possible.
  • The U.S. will also boost its military footprint in confronting ISIS in Syria by deploying A-10 and F-15 fighter jets to Incirlik Air Base in Turkey. And the U.S. is also eying the establishment of a Special Forces task force in Iraq to boost U.S. efforts to target ISIS and its leaders, the administration official said. President Barack Obama has also authorized enhancing military aid to Jordan and Lebanon to help counter ISIS.
  • Obama has long resisted an American military presence on the ground to combat ISIS in Iraq and Syria but has reluctantly escalated U.S. involvement in that fight over time since launching the military effort in 2014.The number of U.S. military forces in Iraq has swelled to more than 3,500 since Obama first announced the deployment of up to 300 American military advisers to Iraq in June 2014.U.S. Special Ops have previously conducted some secretive missions on the ground in Syria as well. But the deployment marks the first permanent presence of U.S. ground troops in Syria since the U.S. began leading an international effort last year to confront ISIS, the militant Islamist group which now controls broad swaths of territory in Iraq and Syria.
  • The troops to be sent to Syria are not expected to serve on the front lines with rebel forces and, according to a U.S. official, they will rotate in and out of Syria from the existing U.S. base in Irbil, Iraq.But they are entering a very hot combat zone and have the right to engage the enemy if they come under fire. They could also join Syrian and Kurdish forces on raids if they get explicit permission from Washington.
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    Although not mentioned in the article, the accompanying video goes through many of Obama's prior statements that he would not put American boots on the ground in Syria. 
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M of A - U.S. Stopped Syria Air Strikes While Nusra And IS Prepared Attack On Governmen... - 0 views

  • During the last days a large attack on the Syrian government supply line to Aleppo city was carried out by Jabhat al-Nusra (aka al-Qaeda in Syria) and the Islamic State seemingly in coordination with the U.S. military.
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    Reminds of the time when ISIL invaded Iraq from Syria to take Mosul and somehow the U.S. satellites, etc., didn't manage to see convoys of hundreds of white Toyota pickups streaming down the highways and the U.S. trained Iraqi forces fled from an inferior force because their generals had disappeared. There's an appearance that U.S. collusion with ISIL is again afoot. But the irreducible mnimum is that ISIL is conducting joint operations with al-Nusrah, the latter of which is being repainted as a Syrian "moderate" force acceptable to the U.S. That's even though the U.S. voted for the U.N. Security Council Resolution outlawing any collaboration with or support of any kind for al-Nusrah. 
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Microsoft Helping to Store Police Video From Taser Body Cameras | nsnbc international - 0 views

  • Microsoft has joined forces with Taser to combine the Azure cloud platform with law enforcement management tools.
  • Taser’s Axon body camera data management software on Evidence.com will run on Azure and Windows 10 devices to integrate evidence collection, analysis, and archival features as set forth by the Federal Bureau of Investigation Criminal Justice Information Services (CJIS) Security Policy. As per the partnership, Taser will utilize Azure’s machine learning and computing technologies to store police data on Microsoft’s government cloud. In addition, redaction capabilities of Taser will be improved which will assist police departments that are subject to bulk data requests. Currently, Taser is operating on Amazon Web Services; however this deal may entice police departments to upgrade their technology, which in turn would drive up sales of Windows 10. This partnership comes after Taser was given a lucrative deal with the Los Angeles Police Department (LAPD) last year, who ordered 7,000 body cameras equipped with 800 Axom body cameras for their officers in response to the recent deaths of several African Americans at the hands of police.
  • In order to ensure Taser maintains a monopoly on police body cameras, the corporation acquired contracts with police departments all across the nation for the purchase of body cameras through dubious ties to certain chiefs of police. The corporation announced in 2014 that “orders for body cameras [has] soared to $24.6 million from October to December” which represents a 5-fold increase in profits from 2013. Currently, Taser is in 13 cities with negotiations for new contracts being discussed in 28 more. Taser, according to records and interviews, allegedly has “financial ties to police chiefs whose departments have bought the recording devices.” In fact, Taser has been shown to provide airfare and luxury hotels for chiefs of police when traveling for speaking engagements in Australia and the United Arab Emirates (UAE); and hired them as consultants – among other perks and deals. Since 2013, Taser has been contractually bound with “consulting agreements with two such chiefs’ weeks after they retired” as well as is allegedly “in talks with a third who also backed the purchase of its products.”
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Battle of Aleppo is a must-win for Russia - RT Op-Edge - 0 views

  • Once again, whatever hangs in the future for Syria on both the political and military fronts depends on the new Battle of Aleppo. The city and its outskirts, with the influx of internal refugees, may be harboring up to three million people by now. It’s always about Aleppo.Here’s what’s going on, essentially, on the ground. West Aleppo is controlled by Damascus, via the Syrian Arab Army (SAA).Some of the northern parts are controlled by the Kurds from the PYD – which are way more engaged in fighting ISIS/ISIL/Daesh than Damascus. The PYD also happens to be considered an objective ally by the Obama administration and the Pentagon, much to the disgust of Turkey’s ‘Sultan’ Erdogan.
  • East Aleppo is the key. It is controlled by the so-called Army of Conquest, which includes Jabhat al-Nusra, a.k.a. Al-Qaeda in Syria, and the Salafi outfit Ahrar al-Sham. Other eastern parts are controlled by the “remnants” (copyright Donald Rumsfeld) of the Free Syrian Army (FSA), who refused to collaborate with the Army of Conquest.Across the Beltway, all of the above are somewhat considered “moderate rebels.”
  • Additionally, several hundred Iraqi Shi’ite fighters, under the supervision of superstar Iranian Quds Force commander Qasem Soleimani, have been transferred from Latakia to Aleppo. And a roughly 3,000-strong, battle-hardened, armored Hezbollah brigade is also coming.What is shaping up is a kind of southern offensive. These forces will all be converging not only towards Aleppo but, in a second stage, will have to clear the terrain all the way to the Turkish-Syrian border, which is now a de facto Russian-controlled no-fly zone.The supreme target is to cut off the supply lines for every Salafi or Salafi-jihadi player – from “moderate rebels” to ISIS/ISIL/Daesh. That’s the meaning of Moscow’s insistence on the fight against all brands of terror, with no distinction. It does not matter that ISIS/ISIL/Daesh is not the main player in and around Aleppo.For all practical purposes the whole Syria campaign is now under Russian operational, tactical and strategic management – of course with key Iranian strategic input.
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    Pepe Escobar on a major battle that will kick off in Syria this week, the battle for East Aleppo and between it and the Turkish border.
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US Special Forces Fight IS Group for Months, Kurdish Forces Say | News | teleSUR English - 0 views

  • The United States special forces currently stationed in Iraq are engaged in fighting against the Islamic State group, several Kurdish Iraqi fighters have told the British newspaper The Guardian, contradicting President Barack Obama’s assertion that no U.S. personnel were in direct combat with the extremist group. According to The Guardian, none of the fighters with Kurdish Iraqi army, known as Peshmerga, were willing to publish their photos or video footage for fear of dismissal, but they allowed the newspaper's crew to watch the video and see the images on their cellphones.
  • A 29-year-old peshmerga fighter named Peshawa showed a video through his cellphone filmed just after dawn on Sept. 11, showing four Western-looking men in a battle against the Islamic State group in Iraq. “These are the Americans,” Peshawa said referring to U.S. soldiers. He added that such footage and other asserts that Washington has been involved directly in the fight against the Islamic State group.
  • President Obama announced in June last year the deployment of 3,500 U.S. special forces to Iraq in order to “advise and train” Kurdish fighters in their fight against the extremist group, according to the Pentagon, but denied that this was part of a boots-on-the-ground operation. “The joke going around here is there are no boots on the ground because they’re all wearing sneakers,” an unnamed western volunteer with the peshmerga, told the Guardian. Major Loqman Mohammed with the peshmerga force showed another video, dated 11 June,  where a U.S. soldier was  seen wearing the uniform and badge of a Kurdish counter-terrorism unit and walking with two dozen peshmerga fighters after several hours of fighting with Islamic State group militants in the village of Wastana and Saddam settlement.
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  • “They fight and they even fight ahead of the peshmerga. They won’t allow anyone to take photos of them, but they take photos of everyone, ” Karwan Hama Tata, a Peshmerga volunteer, told The Guardian reporter after showing him another video of two U.S. soldiers in the middle of an operation with other Kurdish fighters. In an Oct. 28 report by Bloomberg, U.S. and Kurdish officials, not authorized to speak about the matter, said that he U.S. was running an operations center in Irbil city staffed by a special operations task force whose work is so classified its name is a state secret.
  • The Guardian said that when asked about the videos and the testimonies of the Kurdish fighters, the U.S. Central Command in Baghdad said: “No U.S. or coalition SOF [special operations forces] were engaged in any of these events you listed.” It added “we have no reports of any coalition advise and assist teams becoming engaged during the actions you referenced.”
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Afghan defense minister says Taliban hid in bombed hospital - 0 views

  • Afghanistan's acting defense minister said Monday that the Doctors Without Borders hospital bombed by U.S. forces in the northern city of Kunduz was being used by insurgents as a "safe place." The hospital was bombed by a U.S. AC-130 gunship in the early hours of Oct. 3, killing at least 22 people and wounding many more. The main building was destroyed and the hospital has been shut down. "That was a place they wanted to use as a safe place because everybody knows that our security forces and international security forces were very careful not to do anything with a hospital," Defense Minister Masoom Stanekzai told The Associated Press, adding that a Taliban flag had been mounted on one of the hospital's walls.
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    That's a public relations defense, not a legal defense to a war crime. Hospitals with staff and patients are strictly off-limits as targets during wartime. Notably, even if one took what Stanekzai said at face value, it constitutes an admission that the Taliban were using the hospital as a safe harbor, not as a fortification from which to direct fire. But he could also be sweeping in wounded Taliban who were among the patients being treated. Would the fact that American troops are being treated for wounds in an Afghan hospital be viewed as making it permissible for the Taliban to target the hospital for rocket fire? Hardly. 
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Finian CUNNINGHAM - Russia Vindicated by Terrorist Surrenders in Syria - Strategic Cult... - 0 views

  • As Syrians gather in their capital Damascus to celebrate, there is a sense that the New Year will bring a measure of peace – the first time such hope has been felt over the past five years of war in the country. Russia’s military intervention to help its Arab ally at the end of September has been the seminal event of the year. After three months of sustained Russian aerial operations in support of the Syrian Arab Army against an array of foreign-backed mercenaries, there is an unmistakable sense that the «terrorist backbone has been broken», as Russian President Vladimir Putin recently put it.
  • What is interesting is how the Western news media are reporting all this. Their reportage of the truces and evacuations are straining to minimize the context of these developments. This BBC report is typical, headlined: «Syria fighters’ evacuation from Zabadani ‘under way’». The British state-owned broadcaster tells of hundreds of «fighters» being relocated from the town of Zabadani as if the development just magically materialized like a present donated by Santa Claus. What the BBC fails to inform is that that truce, as with several others around Damascus, has come about because of Russia’s strategic military intervention in Syria dealing crushing blows against the militant networks. The Western media have preoccupied themselves instead with claims from the US State Department that Russia’s military operations have either been propping up the «Assad regime» or allegedly targeting «moderate rebels» and civilians. The disingenuous Western narrative, or more prosaically «propaganda», then, in turn, creates a conundrum when widespread truces and evacuations are being implemented. That obviously positive development signaling an end to conflict thanks to Russia’s military intervention has to be left unexplained or unacknowledged by the Western media because it negates all their previous pejorative narrative towards Russia and the Assad government.
  • Furthermore, the Western media are obliged to be coy about the exact identity of the «fighters» being evacuated. As noted already, the militants are variously described by the Western media in sanitized terms as «fighters» or «rebels». But more informative regional and local sources, such as Lebanon’s Al Manar, identify the brigades as belonging to the al-Qaeda-linked Islamic State group and al-Nusra Front. These are terror groups, as even defined by Washington and the European Union. So, the Western media has to, by necessity, censor itself from telling the truth by peddling half-truths and sly omissions. The Jaish al-Islam (Army of Islam), whose commander was killed, is also integrated with the al-Qaeda terror network. Jaish al-Islam is funded and armed by Saudi Arabia and Qatar, and serves as a conduit for American CIA weapons to the more known terrorist outlets. Notably, Voice of America referred to the terror commander Zahran Alloush with the euphemistic cleansing term as a «rebel leader». What the Russian-precipitated truces and termination of sieges is demonstrating is that the western side of Syria, from Daraa in the south, through Damascus and up to the northern Mediterranean Sea coast around Aleppo and Latakia, are infested with the terror brigades of IS and Al-Nusra and their myriad offshoots.
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  • Western media have repeatedly accused Russia of conducting air strikes against «moderate rebels» and not the IS brigades, which they claim, were concentrated in the east of Syria. It is true that the IS is strongly based in eastern cities of Raqqa and Deir Ezzor, from where its oil smuggling operations are mounted. Russia has stepped up its air strikes on IS smuggling routes in eastern Syria with devastating results. But also integral to the air operations is the cutting off of weapons routes in the northwest to fuel the insurgents along the entire western flank, including around Damascus. The surrender of the various mercenary brigades and the breaking of sieges around Damascus is vindication of Russia’s military tactics; and also its narrative about the nature of the whole conflict in Syria. The Western notion of «moderate rebels» and «extremists» is being exposed as the nonsense that it is. And so Western media are compelled to evacuate any meaningful context from their coverage of recent events in Syria. Riad Haddad, Syria’s ambassador to Russia, spoke the plain truth in recent days when he said: «We are at a turning point in the Syrian army operations against terrorists – namely the transition from defense to attack… [because of] the effective work of the Russian air force in Syria». But the ambassador’s comments were scarcely, if at all, reported in the Western media. Simply because those words vindicate Russia’s military intervention and its general policy towards Syria.
  • Also missing or downplayed in the Western media coverage of the truces across Syria is the question of where the surrendering mercenaries are being evacuated to. They are not being bussed to other places inside Syria. That shows that there is no popular support for these insurgents. Despite copious Western media coverage contriving that the Syrian conflict is some kind of «civil war» between a despotic regime and a popular pro-democracy uprising, the fact that surrendering militants have no where to go inside Syria patently shows that these insurgents have no popular base. In other words, this is a foreign-backed war on Syria; a covert war of aggression on a sovereign country utilizing terrorist proxy armies. So where are the terrorist remnants being shipped to? According to several reports, the extremists are being given safe passage into Turkey, where they will receive repair and sanctuary from the President Recep Tayyip Erdogan – and no doubt subsidized by the European Union with its $3.5 billion in aid to Ankara to «take care of refugees».
  • Again, this is another indictment of the state-terrorist links of NATO-member Turkey, which the EU is recently giving special attention to for accession to the bloc. Russia is not only vindicated in Syria. The Western governments, their media and their regional client regimes are being flushed out like the bandits on the ground in Syria.
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    I don't normally bookmark ariticles by the author of this one.  He's too inclined to hyperbolic overstatement. But I think he struck true in this instance, albeit I'm less than certain that U.S. and allies don't have a major counter-attack in store and ISIL is still firmly ensconsced in Iraq. But the tide has definitely turned in Syria. 
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One Map That Explains the Dangerous Saudi-Iranian Conflict - 0 views

  • The Kingdom of Saudi Arabia executed Shiite Muslim cleric Nimr al-Nimr on Saturday. Hours later, Iranian protestors set fire to the Saudi embassy in Tehran. On Sunday, the Saudi government, which considers itself the guardian of Sunni Islam, cut diplomatic ties with Iran, which is a Shiite Muslim theocracy. To explain what’s going on, the New York Times provided a primer on the difference between Sunni and Shiite Islam, informing us that “a schism emerged after the death of the Prophet Muhammad in 632” — i.e., 1,383 years ago. But to the degree that the current crisis has anything to do with religion, it’s much less about whether Abu Bakr or Ali was Muhammad’s rightful successor and much more about who’s going to control something more concrete right now: oil.
  • In fact, much of the conflict can be explained by a fascinating map created by M.R. Izady, a cartographer and adjunct master professor at the U.S. Air Force Special Operations School/Joint Special Operations University in Florida. What the map shows is that, due to a peculiar correlation of religious history and anaerobic decomposition of plankton, almost all the Persian Gulf’s fossil fuels are located underneath Shiites. This is true even in Sunni Saudi Arabia, where the major oil fields are in the Eastern Province, which has a majority Shiite population. As a result, one of the Saudi royal family’s deepest fears is that one day Saudi Shiites will secede, with their oil, and ally with Shiite Iran.
  • This fear has only grown since the 2003 U.S. invasion of Iraq overturned Saddam Hussein’s minority Sunni regime, and empowered the pro-Iranian Shiite majority. Nimr himself said in 2009 that Saudi Shiites would call for secession if the Saudi government didn’t improve its treatment of them.
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  • As Izady’s map so strikingly demonstrates, essentially all of the Saudi oil wealth is located in a small sliver of its territory whose occupants are predominantly Shiite. (Nimr, for instance, lived in Awamiyya, in the heart of the Saudi oil region just northwest of Bahrain.) If this section of eastern Saudi Arabia were to break away, the Saudi royals would just be some broke 80-year-olds with nothing left but a lot of beard dye and Viagra prescriptions. Nimr’s execution can be partly explained by the Saudis’ desperation to stamp out any sign of independent thinking among the country’s Shiites. The same tension explains why Saudi Arabia helped Bahrain, an oil-rich, majority-Shiite country ruled by a Sunni monarchy, crush its version of the Arab Spring in 2011. Similar calculations were behind George H.W. Bush’s decision to stand by while Saddam Hussein used chemical weapons in 1991 to put down an insurrection by Iraqi Shiites at the end of the Gulf War. As New York Times columnist Thomas Friedman explained at the time, Saddam had “held Iraq together, much to the satisfaction of the American allies Turkey and Saudi Arabia.”
  • Of course, it’s too simple to say that everything happening between Saudis and Iranians can be traced back to oil. Disdain and even hate for Shiites seem to be part of the DNA of Saudi Arabia’s peculiarly sectarian and belligerent version of Islam. In 1802, 136 years before oil was discovered in Saudi Arabia, the ideological predecessors to the modern Saudi state sacked Karbala, a city now in present-day Iraq and holy to Shiites. The attackers massacred thousands and plundered the tomb of Husayn ibn Ali, one of the most important figures in Shiite Islam. Without fossil fuels, however, this sectarianism toward Shiites would likely be less intense today. And it would definitely be less well-financed. Winston Churchill once described Iran’s oil – which the U.K. was busy stealing at the time — as “a prize from fairyland far beyond our brightest hopes.” Churchill was right, but didn’t realize that this was the kind of fairytale whose treasures carry a terrible curse.
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    A very interesting map, indeed. It explains a lot the situation in the Mideast. And if Pepe Escobar is right about the U.S. moving to reduce its dependency on Saudi oil with a corresponding tilt toward Iran, the map tells a lot about why the U.S. would do so. But to make it work, I can't see the U.S. pulling it off unless a deal is cut with Iran for it to step into the Saudi's shoes in maintaining the petrodollar, i.e., Iran would have to insist on being paid in U.S. dollars for all of its oil and gas. Was a side deal made to that effect during the negotiations over Iran's nuclear energy development program? If so, that's bad news for the Saudis and for its new ally, the right-wing government of Israel, which has ambitions to be dominant military *and* economic power in the Mideast and to extend its borders from the Nile River in Egypt to the Euphrates River in Iraq and east across the Arabian Peninsula. But what Israel cannot bring to the table is large oil and gas reserves. Iran can.  
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Spanish University Boycotts Israel - International Middle East Media Center - 0 views

  • The deanship at the Central University of Barcelona (UAB) announced the official boycott of Israel, with the cut of all kinds of communication and relations with the Israeli universities and institutions which are related directly or indirectly to the occupation.
  • The Canary Islands adopted the boycott of Israel two weeks ago, during a visit by Ambassador of the State of Palestine in Spain, Kefah Odeh, in celebration of the International Day of Solidarity with the Palestinian people. Seville and dozens of other Spanish cities have adopted the boycott movement in support of the Palestinian cause, and the BDS activities.
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    BDS on the march.
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Russian Defense Ministry: 217 populated areas in Syria restored since Sep. 30 - Syrian ... - 0 views

  • The Russian Defense Ministry said on Friday the Russian Aerospace Forces carried out 5,662 sorties since the beginning of its military air operations against the terrorists’ sites in Syria, supporting the Syrian Arab Army’s efforts to establish control over 217 villages and towns.
  • Lt. Gen. Sergei Rudskoy, chief of the Main Operational Directorate of the General Staff of the Russian Armed Forces told reporters, adding that this has contributed to liberating 217 populated areas and over 1,000 square kilometers in Syria from terrorists. Rudskoy affirmed that Russian aircrafts have observed the continued arrival of ammunition and weapons to the terrorists in Syria under the cover of humanitarian aid, pointing out that the US-led coalition seeks to downplay the results of Russian operations in Syria. He stressed the importance of humanitarian operations in Syria while ensuring that they won’t be used by terrorists, adding that the Russian Air Force is providing basic humanitarian aid to the civilians of Deir Ezzor city which has been besieged by terrorists.
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First to Fall? Panama Papers Bring Down Iceland PM, Portending Future Fallout | Common ... - 0 views

  • In the first instance of a prominent politician taken down by the 11.5 million documents leaked in the Panama Papers, Iceland Prime Minister Sigmundur Davíð Gunnlaugsson resigned on Tuesday after fully 10 percent of Iceland's population rallied in protest of his wife's secret, offshore shell company holding millions. Gunnlaugsson was asked about the account on the day the leak was announced in a television interview, and he walked out rather than answer the question:
  • The next day, "an estimated 22,000 Icelanders slung eggs and protested outside the Parliament building" demanding his resignation, as Common Dreams reported. Gunnlaugsson initially refused to bow to the public pressure, but eventually announced his resignation on Tuesday evening.
  • News editor of the Reykjavík Grapevine Paul Fontaine said Tuesday, "While the Prime Minister's particular role in the Panama Papers leak is huge, and I don't want to downplay it, I also don't want to downplay the involvement other Icelanders—and the countless others around the world—also had in this." "This extends beyond the prime minister; it reaches parliament, it reaches Reykjavík City Hall, and it reportedly reaches hundreds of as yet unnamed Icelandic businesspeople," Fontaine pointed out. "The greater crime, which the Panama Papers illustrate comprehensively, is that we have a secret economy connected to and even supporting some of the worst aspects of the global capitalist system."
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  • Meanwhile, Ukraine's president faces possible impeachment proceedings for his offshore holdings in the British Virgin Islands, and the Chilean head of anti-corruption group Transparency International resigned Tuesday after the Panama Papers revealed his own use of secret shell companies.
  • Relatively few Americans have been named in the leak thus far, perhaps pointing to the country's status as one of the foremost locales for creating shell corporations like those documented in the Panama Papers. "Americans can form shell companies right in Wyoming, Delaware or Nevada," said Shima Baradaran Baughman, a law professor at the University of Utah, in an interview with Fusion. "They have no need to go to Panama to form a shell company to use for illicit activities."
  • David Dayen explored in depth the paltry U.S. regulations around onshore shell companies in Salon: "While we force foreign financial institutions to give up information on accounts held by U.S. taxpayers through the Foreign Account Tax Compliance Act of 2010, we don’t reciprocate by complying with international disclosure requirements standardized by the Organization for Economic Co-Operation and Development (OECD) and agreed to by 97 other nations. As a result, the U.S. is becoming one of the world’s foremost tax havens."
  • President Barack Obama addressed the Panama Papers leak for the first time on Tuesday, condemning the laws that make offshore tax havens legal. But those words rang hollow to many observers who recalled that the Obama Administration was behind the very trade deal, Panama TPA, that enshrined the rights of firms such as Mossack Fonseca to funnel millions into untraceable offshore shell companies. As Common Dreams noted, "Much of [Mossack Fonseca's] activities were not necessarily illegal—thanks to agreements such as the Panama TPA." It is worth noting that Bernie Sanders advocated against the deal.
  • Reform also seems unlikely should Hillary Clinton become the Democratic party's nominee, considering that she and her husband own a shell corporation such as the ones documented in the Panama Papers, as the Associated Press reported last year. Unnamed officials told the AP that "the entity was a 'pass-through' company designed to channel payments to the former president." Thanks to the nature of the laws surrounding such corporations, Clinton is not required to disclose the company's existence or earnings in her campaign finance reports. Still, observers are hopeful that this record-shattering leak will drum up enough public pressure to not only topple prominent politicians, but to also propel the efforts of groups seeking real legislative reform. "The Panama Papers are a boost to the global movement to stop tax-haven abuse and recapture trillions of the hidden wealth of nations," wrote author Chuck Collins in The Nation. "This story isn’t going away anytime soon."
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