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Javier E

Revealed: Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians | Cr... - 0 views

www.theguardian.com/...fraudsters-corrupt-politicians

switzerland bank secrecy corruption tax evasion whistleblower

shared by Javier E on 21 Feb 22 - No Cached
  • The huge trove of banking data was leaked by an anonymous whistleblower to the German newspaper Süddeutsche Zeitung. “I believe that Swiss banking secrecy laws are immoral,” the whistleblower source said in a statement. “The pretext of protecting financial privacy is merely a fig leaf covering the shameful role of Swiss banks as collaborators of tax evaders.”
  • Swiss financial institutions manage about 7.9tn CHF (£6.3tn) in assets, nearly half of which belongs to foreign clients.
  • It identifies the convicts and money launderers who were able to open bank accounts, or keep them open for years after their crimes emerged. And it reveals how Switzerland’s famed banking secrecy laws helped facilitate the looting of countries in the developing world.
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  • his case is one of dozens discovered by reporters appearing to show Credit Suisse opened or maintained accounts for clients who had serious convictions that might be expected to show up in due diligence checks. There are other instances in which Credit Suisse may have taken quick action after red flags emerged, but the case nonetheless shows that dubious clients have been attracted to the bank.
  • Like every other bank in the world, Credit Suisse professes to have stringent control mechanisms to carry out extensive due diligence on its customers to “ensure that the highest standards of conduct are upheld”. In banking parlance, such controls are called know-your-client or KYC checks.
  • A 2017 leaked report commissioned by Switzerland’s financial regulator shed some light on the bank’s internal procedures at that time. Clients would face intensified scrutiny when flagged as a politically exposed person from a high-risk country, or a person involved in a high-risk activity such as gambling, weapons trading, financial services or mining, the report said.
  • Such controls might be expected to prevent a bank from opening accounts for clients such as Rodoljub Radulović, a Serbian securities fraudster indicted in 2001 by the US Securities and Exchange Commission. However, the leaked data identifies him as the co-signatory of two Credit Suisse company accounts. The first was opened in 2005, the year after the SEC had secured a default judgment against Radulović for running a pump-and-dump scheme.
  • One of Radulović’s company accounts held 3.4m CHF (£2.2m) before they closed in 2010. He was recently given a 10-year prison sentence by a court in Belgrade for his role trafficking cocaine from South America for the organised crime boss Darko Šarić.
  • Due diligence is not only for new clients. Banks are required to continually reassess existing customers. The 2017 report said Credit Suisse screened customers at least every three years and as often as once a year for the riskiest clients. Lawyers for Credit Suisse told the Guardian these periodic reviews were introduced “more than 15 years ago”, meaning it was continually running due diligence on existing clients from 2007.
  • The bank might, therefore, have been expected to have discovered that its German client Eduard Seidel was convicted of bribery in 2008. Seidel was an employee of Siemens. As the multinational’s lead in Nigeria, he oversaw a campaign of industrial-scale bribery to secure lucrative contracts for his employer by funnelling cash to corrupt Nigerian politicians.
  • After German authorities raided the Munich headquarters of Siemens in 2006, Seidel immediately confessed his role in the bribery scheme, though he said he had never stolen from the company or appropriated its slush funds. His involvement in the corruption led to his name being entered into the Thomson Reuters World-Check database in 2007.
  • However, the leaked Credit Suisse data shows his accounts were left open until at least well into the last decade. At one point after he left Siemens, one account was worth 54m CHF (£24m). Seidel’s lawyer declined to say whether the accounts were his. He said his client had addressed all outstanding matters relating to his bribery offences and wished to move on with his life.
  • The lawyer did not respond to repeated invitations to explain the source of the 54m CHF. Siemens said it did not know about the money and that its review of its own cashflows shed no light on the account.
  • A representative for Sederholm said Credit Suisse never froze his accounts and did not close them until 2013 when he was unable to provide due diligence material. Asked why Sederholm needed a Swiss account, they said that he was living in Thailand when it was opened, adding: “Can you please tell me if you would prefer to put your money in a Thai or Swiss bank?”
  • One client, Stefan Sederholm, a Swedish computer technician who opened an account with Credit Suisse in 2008, was able to keep it open for two-and-a-half years after his widely reported conviction for human trafficking in the Philippines, for which he was given a life sentence.
  • Swiss banks have cultivated their trusted reputation since as far back as 1713, when the Great Council of Geneva prohibited bankers from revealing details about the fortunes being deposited by European aristocrats. Switzerland soon became a tax haven for many of the world’s elites and its bankers nurtured a “duty of absolute silence” about their clients affairs.
  • The custom was enshrined in statute in 1934 with the introduction of Switzerland’s banking secrecy law, which criminalised the disclosure of client banking information to foreign authorities. Within decades, wealthy clients from all over the world were flocking to Swiss banks. Sometimes, that meant clients with something to hide.
  • One former Credit Suisse employee at the time alleges there was a deeply ingrained culture in Swiss banking of looking the other way when it came to problematic clients. “The bank’s compliance departments [were] masters of plausible deniability,” they told a reporter from the Organized Crime and Corruption Reporting Project, one of the coordinators of the Suisse secrets project. “Never write anything down that could expose an account that is non-compliant and never ask a question you do not want to know the answer to.”
  • The 2000s was also a decade in which foreign regulators and tax authorities became increasingly frustrated at their inability to penetrate the Swiss financial system. That changed in 2007, when the UBS banker Bradley Birkenfeld voluntarily approached US authorities with information about how the bank was helping thousands of wealthy Americans evade tax with secret accounts.
  • Birkenfeld was viewed as a traitor in Switzerland, where banking whistleblowers are often held in contempt. However, a wide-ranging US Senate investigation later uncovered the aggressive tactics used by UBS and Credit Suisse, the latter of which was found to have sent bankers to high-end events to recruit clients, courted a potential customer with free gold, and in one case even delivered sensitive bank statements hidden in the pages of a Sports Illustrated magazine.
  • The revelations sent shock waves through Switzerland’s financial sector and enraged the US, which pressured Switzerland into unilaterally disclosing which of its taxpayers had secret Swiss accounts from 2014. That same year, Switzerland reluctantly signed up to the international convention on the automatic exchange of banking Information.
  • By adopting the so-called common reporting standard (CRS) for sharing tax data, Switzerland in effect agreed that its banks would in the future exchange information about their clients with tax authorities in foreign countries. They started doing so in 2018.
  • Membership of the global exchange system is often cited by Switzerland’s banking industry as a turning point. “There is no longer Swiss bank client confidentiality for clients abroad,” the Swiss Bankers Association told the Guardian. “We are transparent, there is nothing to hide in Switzerland.”
  • Switzerland’s almost 90-year-old banking secrecy law, however, remains in force – and was recently broadened. The Tax Justice Network estimates that countries around the world collectively lose $21bn (£15.4bn) each year in tax revenues because of Switzerland. Many of those countries will be poorer nations that have not signed up to the CRS data exchange.
  • More than 90 countries, most of which are in the developing world, remain in the dark when their wealthy taxpayers hide their money in Swiss accounts.
  • This inequity in the system was cited by the whistleblower behind the leaked data, who said the CRS system “imposes a disproportionate financial and infrastructural burden on developing nations, perpetuating their exclusion from the system in the foreseeable future”.
  • “This situation enables corruption and starves developing countries of much-needed tax revenue. These countries are the ones that therefore suffer most from Switzerland’s reverse-Robin-Hood stunt,” they said.
  • “I am aware that having an offshore Swiss bank account does not necessarily imply tax evasion or any other financial crime,” they said. “However, it is likely that a significant number of these accounts were opened with the sole purpose of hiding their holder’s wealth from fiscal institutions and/or avoiding the payment of taxes on capital gains.”
Javier E

Wait a Minute. How Can They Afford That When I Can't? - The New York Times - 0 views

www.nytimes.com/...financial-security-envy.html

wealth rich spending education inequality

shared by Javier E on 07 Nov 19 - No Cached
  • Sharon (not her real name), who lives in Westchester County, N.Y., has relatives who have paid her children’s full college tuition and give the family additional help.
  • Not only do people want to play down their inherited wealth or money from family “but they actively try to hide it,” Mr. Conley said. “We have this ideology of individualism and worshiping of the self-made man or woman.”
  • theoretically, there’s a correlation between getting more because you work harder, said Evan Polman, a professor of marketing at the University of Wisconsin at Madison School of Business. “Inheritance is a violation of that correlation.”
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  • So, why does this matter? What if we don’t know where our neighbors got the money for that new deck? Few would want everyone’s financial status to be transparent.
  • this secrecy helps reinforce the idea that it is only individual choices, not laws and policies, as well as our national history, that comes into building wealth.
  • “It seems like a straight-up cultural issue, but public policy plays a role in how we view secrecy about money and also the consequences that secrecy has,” said Mr. Wherry, who is also director of the Dignity and Debt Network. People need to understand others are in a similar situation — struggling to pay for college or retirement or health care — to realize it’s not a personal failing and to push for reforms.
  • “The secrecy surrounding money may also differ to some extent in countries with higher rates of unionization,” Mr. Conley said, “where salaries are more transparent.”
  • Some say we’re focusing on the wrong thing if we’re looking at the outward signs of wealth. The reality now is that if we’re going to envy our neighbors, it shouldn’t be for their BMW or new swimming pool. It should be for their fat 401(k) or gold-plated health insurance, because the ability to put away large amounts of money to secure our future and our children’s future is the sign of real wealth now.
  • The top 1 percent of households still spend money on conspicuous consumption but “the thing that really separates them is their spending on inconspicuous consumption,
  • Over the last few decades, wealthy people have increased how much of their spending they direct to education and retirement, compared with members of the middle class, whose expenditures in those areas have remained more or the less the same.
  • For example, in 2014, the last year of Ms. Currid-Halkett’s analysis, the top 1 percent of American earners — those making at least $340,000 annually — directed, on average, 6 percent of their total expenditures to education. According to her research, that percentage has climbed significantly since 1996.
  • Only about 1 percent of the expenditures of the middle class — people making about $40,000 to $60,000 annually in 2014 — was devoted to education, a number that has stayed static for almost two decades,
  • And about 20 percent of the top earners’ expenditures go to personal insurance and pensions — an annual average of $32,500 in 2014 — compared with just under $4,000 or about 8 percent for the middle class.
  • biggest signifier of class divide in America today,”
Javier E

What Oppenheimer really knew about an atomic bomb ending the world - The Washington Post - 0 views

www.washingtonpost.com/...oject-history-atomic-bomb-test

world atom bomb end-of-the-world catastrophe physics quantum

shared by Javier E on 28 Jul 23 - No Cached
  • In a chilling, existential, bizarrely comic moment, the new movie “Oppenheimer” revives an old question: Did Manhattan Project scientists think there was even a minute possibility that detonating the first atomic bomb on the remote plains of New Mexico could destroy the world?
  • physicists knew it wouldn’t, long before the Trinity test on July 16, 1945, at the Alamogordo Bombing Range, about 210 miles south of the secret Los Alamos, N.M., laboratory.
  • “This thing has been blown out of proportion over the years,” said Richard Rhodes, author of the Pulitzer Prize-winning book “The Making of the Atomic Bomb.” The question on the scientists’ minds before the test, he said, “wasn’t, ‘Is it going to blow up the world?’ It was, ‘Is it going to work at all?’”
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  • In the movie, one scene has J. Robert Oppenheimer, director of the laboratory, seeking to reassure his boss, Gen. Leslie Groves, on the eve of the test. Upon investigation, Oppenheimer tells him, physicists have concluded that the chances the test detonation will destroy the world are “near zero.” Realizing the news has alarmed, not reassured, the general, Oppenheimer asks, “What do you want from theory alone?”“Zero would be nice,” the general replies.
  • no physicists or historians interviewed for this story recalled coming across any mention of such a conversation between Oppenheimer and the general in the historical record.
  • Still, the discussions and calculations persisted long after the Trinity test. In 1946, three Manhattan project scientists, including Teller, who would later become known as the father of the hydrogen bomb, wrote a report concluding that the explosive force of the first atomic bomb wasn’t even close to what would be required to trigger a planet-destroying chain reaction in air. The report was not declassified until 1973.
  • At a conference in the summer of 1942, almost a full year before Los Alamos opened, physicist Edward Teller raised the possibility of atomic bombs igniting Earth’s oceans or atmosphere. According to Rhodes’s account, Hans Bethe, who headed the theoretical division at Los Alamos, “didn’t believe it from the first minute” but nonetheless performed the calculations convincing the other physicists that such a disaster was not a reasonable possibility.
  • “I don’t think any physicists seriously worried about it,” said John Preskill, a professor of theoretical physics at California Institute of Technology.
  • “Did the actual exchange happen at that moment? No, I don’t think so,” said Alex Wellerstein, an associate professor at Stevens Institute of Technology in Hoboken, N.J., and author of the 2021 book, “Restricted Data: The History of Nuclear Secrecy in the United States.”“But were there discussions like that? I believe so,” he added.
  • A 1979 study by scientists at the University of California’s Lawrence Livermore Laboratory examined the question of whether a nuclear explosion might trigger a runaway reaction in the atmosphere or oceans. In page after page of mathematical equations, the scientists described a complex set of factors that made atmospheric ignition effectively impossible.
  • As outlandish as the notion was to many scientists, the nuclear research organization CERN felt obliged to deal with the fear, noting on its website that “some theories suggest that the formation of tiny ‘quantum’ black holes may be possible. The observation of such an event would be thrilling in terms of our understanding of the Universe; and would be perfectly safe.”
  • Dudley’s essay also recounted a story that on the day of the test, “as zero hour approached” Gen. Groves was annoyed to find Manhattan Project physicist and Nobel Prize winner Enrico Fermi making bets with colleagues about whether the bomb would ignite the atmosphere, “and, if so, whether it would destroy only New Mexico ― or the entire world.” (Some experts have suggested Fermi’s actions may have been more of a joke, or an example of gallows humor.)
  • Fascination with this doomsday scenario may stem, at least in part, from a misunderstanding of what physicists mean when they say “near zero.” The branch of physics known as quantum mechanics, which deals with matter and light at the atomic and subatomic scale, does not rule out any possibilities.
  • For example, if a boy tosses a rubber ball at a brick wall, there is an exceedingly remote — but still valid — possibility that instead of watching the ball bounce back, he could see it pass through the wall.
  • Aditi Verma, an assistant professor of nuclear engineering and radiological sciences at the University of Michigan, put it this way: “What a physicist means by ‘near zero’ would be zero to an engineer.”
  • In the 2000s, scientists encountered a similar problem of terminology as they prepared to generate high-speed particle collisions at the Large Hadron Collider in Geneva. Talk surfaced that the activity might generate a black hole that would devour Earth.
  • Probably the easiest to grasp is the fact that, even under the harshest scenarios, far more energy would be lost in the explosion than gained, wiping out any chance to sustain a chain reaction.
  • In other words, any black hole created by the collider would be far too small to pose any risk to the planet.Scientists say such disaster scenarios are sometimes the price of crossing new thresholds of discovery.
  • “You don’t often talk in certainties,” he said. “You talk in probabilities. If you haven’t done the experiment, you are hesitant to say ‘This is impossible. It will never happen.’ … It was good to think it through.”
  • Rhodes added that he hopes the “Oppenheimer” movie will not lead people to doubt the scientists on the Manhattan Project.“They knew what they were doing,” he said. “They were not feeling around in the dark.”
B Mannke

In Conclave, Ritual and Secrecy in Selection of Pope - NYTimes.com - 0 views

www.nytimes.com/...crecy-in-election-of-pope.html

shared by B Mannke on 12 Mar 13 - No Cached
  • “in reality, the elections are a political fact,
  • The voting is minutely scripted.
  • It is a process dating back centuries, with a rich history of chicanery — like the bought election of Julius II in 1503
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  • In an effort to limit the release of such inside information, the extras to the drama are sworn to secrecy, on pain of excommunication
Javier E

Swiss Banking Secrecy Under Pressure From Europe - NYTimes.com - 0 views

www.nytimes.com/...nder-pressure-from-europe.html

switzerland banking secrecy delaware

shared by Javier E on 24 May 13 - No Cached
  • “Some of the countries that have been targeting our system have offshore centers that are far less transparent than Switzerland,” Mr. Cuendet said. ‘’Just look at a place like Delaware.”
Javier E

A gong for anti-corruption campaigners: A witness to change | The Economist - 0 views

www.economist.com/...ng-anti-corruption-campaigners

corporations anonymity secrecy ownership

shared by Javier E on 20 Mar 14 - No Cached
  • As Global Witness has tirelessly pointed out, much of the corruption is made possible (or at least easier) by anonymous shell companies, which are open to abuse by drug lords, sanctions-busters, kleptocrats and their cronies. Ms Gooch and her colleagues liken shells to getaway cars—for money launderers rather than bank robbers.
  • the source of the problem is often rich countries. Corporate secrecy is particularly strong in America. Registration agents aren’t even required to collect and hold ownership information in states like Delaware and Nevada. (Just today your reporter received an email containing evidence that a Delaware shell company implicated in large-scale cocaine trafficking last year is still registered in the state and in good standing.)
Javier E

Restoring Henry by Michael O'Donnell | The Washington Monthly - 0 views

www.washingtonmonthly.com/...restoring_henry057190.php

kissinger foreign policy

shared by Javier E on 27 Sep 15 - No Cached
  • The Idealist. The author’s revisionist thesis is that Kissinger was not in fact a realist, as he is so frequently portrayed
  • The ideals and deepest hopes of mankind? Kissinger and Nixon bombed Cambodia to pieces in a secret four-year campaign that annihilated some 100,000 civilians. “Anything that flies, on anything that moves,” were the parameters Kissinger gave to Alexander Haig. He countered African liberation movements by embracing the white supremacists of Rhodesia and South Africa, a policy known as the “Tar Baby option.” Kissinger facilitated the overthrow of the governments of Chile and Argentina by right-wing generals, and then worked tirelessly to deflect criticism of the new governments’ torture and murder. A declassified memorandum of his meeting with Augusto Pinochet in 1976 shows Kissinger in a particularly unflattering light: “We welcomed the overthrow of the Communist-inclined government here. We are not out to weaken your position.” In 1975 Kissinger and President Ford met with Indonesian strongman Suharto and authorized him to invade East Timor, which he promptly did the following day; another 100,000 lost their lives. “It is important that whatever you do succeeds quickly,” Kissinger advised.
  • [A]rguments that focus on loss of life in strategically marginal countries—and there is no other way of describing Argentina, Bangladesh, Cambodia, Chile, Cyprus, and East Timor—must be tested against this question: how, in each case, would an alternative decision have affected U.S. relations with strategically important countries like the Soviet Union, China, and the major Western European powers?
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  • Tellingly, at several points in the narrative Ferguson strays from his thesis and defends Kissinger on more utilitarian grounds: the Cold War was real, its outcome was uncertain, and the United States needed every ugly advantage it could find on the geostrategic battlefield. The crimes of communist regimes vastly dwarfed Kissinger’s in scope and scale, Ferguson writes
  • Ferguson is now on the hook for his next volume to weigh the strategic implications of Kissinger’s most barbaric foreign policies once he assumed power
  • Ferguson’s problem is not a conflict of interest: it is his ideological affinity with his subject, and his determination because of that affinity to present his man favorably
  • This begins with Ferguson’s use of language, which repeatedly seeks to bring the reader onto Kissinger’s side
  • Ferguson spends much of the book attempting to rehabilitate Kissinger’s character. He makes an unpersuasive attempt to convince readers that Kissinger was not the relentless ladder climber we think we know.
  • The book also largely sidesteps the topic of Kissinger’s famous vanity, thin skin, and penchant for insincere flattery
  • Kissinger provided information and analysis to Nixon’s aide Richard Allen in breathless telephone calls, which he insisted be kept secret. Nixon’s campaign subsequently passed word to the South Vietnamese government that it could obtain better peace terms under a Nixon administration. South Vietnam pulled out of the talks just days before the U.S. election, the Democratic Party was humiliated, Nixon won the presidency—and then he immediately appointed Kissinger, a man he had met only once, his national security advisor.
  • Johnson referred to the maneuver—spiking a peace deal in order to win an election, thereby extending the Vietnam War—as treason
  • Yet Ferguson again is not convinced. He questions Allen’s reliability as a witness and contends that Nixon’s memoir does not prove that Kissinger was his insider. (Decide for yourself. Here is Nixon: “During the last days of the campaign, when Kissinger was providing us with information about the bombing halt, I became more aware of both his knowledge and his influence.”)
  • Ferguson also makes the legalistic argument that Kissinger’s intervention was not determinative, for Nixon had other informers, and North Vietnam “would surely” have found a pretext to abandon the peace talks had South Vietnam not walked out first. If we use Johnson’s terms, I suppose that reduces the charge to attempted treason.
  • Kissinger’s Shadow. Grandin, a historian at New York University, contends that Kissinger has left us with war as an instrument of policy, less as a last resort than as a kind of peacock’s strut. “Kissinger taught that there was no such thing as stasis in international affairs,” Grandin writes. “[G]reat states are always either gaining or losing influence, which means that the balance of power has to be constantly tested through gesture and deed.” (He quotes Kissinger as asking a fellow cabinet member, “Can’t we overthrow one of the sheikhs just to show that we can do it?”)
  • The abiding concern driving Kissinger’s foreign policy was therefore maintaining credibility: action to avoid the appearance of inability to act.
  • Secrecy is very much a part of Kissinger’s legacy. His systematic efforts to keep the war in Cambodia from becoming public—false records, wiretaps, blatant lies told to Congress—are much more disturbing than the fourth-rate jiggery-pokery of Watergate
  • Ferguson downplays this too, projecting his disagreement by writing disdainfully that “we are told” Kissinger loved secrecy
Javier E

To understand today's global data economy, look to the Middle Ages - The Washington Post - 1 views

www.washingtonpost.com/...-data-economy-look-middle-ages

data corporate accountability god medieval Bentham culture

shared by Javier E on 26 Sep 19 - No Cached
  • With Facebook’s announcement Friday that it has suspended more developer apps for misusing users’ data than previously identified, the company revealed how little we know about the life of our data, even when we already know it’s been breached.
  • The global data economy mines human information to predict and influence behavior in ways most of us are incapable of comprehending.
  • to better understand what this means for the future of privacy, we need to look back to a much older idea, one from the Middle Ages.
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  • Christians in the early European Middle Ages, between roughly the 5th and 11th centuries, believed that God knew all human secrets, yet God’s secrets remained fundamentally unknowable to human beings. This widespread and deep-seated belief in an omniscient and mysterious being shaped institutional structures and social behavior in profound ways, as human efforts at concealment were considered futile
  • Today, a new form of mysterious omniscience is having a similarly widespread and unpredictable effect on human social behavior. We know that data about us is being compiled at breathtaking speeds, but most of us have little way of knowing what information is being collected, how it is being used and, crucially, how the various algorithms, clouds, networks and devices even work
  • The belief in an omniscient God structured almost every part of medieval life, especially around the rapidly developing legal systems of the time. Law codes named God as a constant witness in legal disputes in which human witnesses were considered deficient and God’s judgment functioned as a compelling legal tool.
  • By the 18th century, new secular forms of institutional power and surveillance emerged. Jeremy Bentham, for example, theorized the panopticon, a prison structure designed to harness a prisoner’s belief that he was always being watched to shape his behavior in favor of docility. What makes the architecture of the panopticon work is the mysterious omniscience of the prison guards, who can see from their tower into every cell without ever being seen themselves.
  • Today’s global data economy is the new form of mysterious omniscience. And as the reach of these technologies expands, their mystery will be one of the greatest barriers to its regulation.
  • Indeed, as scholar Shoshana Zuboff has written, firms actively confuse the public about the data they process so that their capabilities “remain inscrutable to all but an exclusive data priesthood.”
  • tion of fear and a belief in the benevolence of the divine
  • Where people in the early Middle Ages assigned benevolence to and held tremendous fear in their omniscient God, we have been facing — indeed embracing with remarkably little fear — this mysteriously omniscient technology reasoned to be benevolent because it makes life more convenient.
  • The way medieval law used God’s omniscience in cases of unreliable testimony foreshadows a future — in some ways, one already here — in which the information collected into that mysteriously omniscient entity (including data recorded by devices and retained by corporations) can be harvested and harnessed as evidence in courts of law, particularly where no other human witnesses are available to testify
  • In these cases, corporations have so far resisted sharing the data with the state, with the exception of counterterrorism efforts. But it also contributes to the corporate entity’s growing omniscience and mysteriousness
  • the move from the panopticon to this future iteration of mysterious omniscience could potentially entail a more insidious form of discipline stripped of the fear of punishment and, with its godlike status, of the possibility of democratic regulation.
Javier E

Taiwan Is Beating the Coronavirus. Can the US Do the Same? | WIRED - 0 views

www.wired.com/...navirus-can-the-us-do-the-same

taiwan pandemic response strategies

shared by Javier E on 04 Apr 20 - No Cached
  • it is natural enough to look at Taiwan’s example and wonder why we didn’t do what they did, or, more pertinently, could we have done what they did?
  • we keep seeing the culturally embedded assumption that East Asian-style state social control just won’t fly in the good old, individualist, government-wary, freedom-loving United States.
  • The New York Times: People in “places like Singapore … are more willing to accept government orders.” Fortune: “There seems to be more of a willingness to place the community and society needs over individual liberty.” Even WIRED: “These countries all have social structures and traditions that might make this kind of surveillance and control a little easier than in the don’t-tread-on-me United States.”
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  • we see the classic “Confucian values” (or “Asian values”) argument that has historically been deployed to explain everything from the economic success of East Asian nations to the prevalence of authoritarian single-party rule in Asia, and even, most recently, China’s supposed edge in AI research.
  • So, yeah, kudos to Taiwan for keeping its people safe, but here in America we’re going to do what we always do in a crisis—line up at a gun store and accuse the opposing political party of acting in bad faith. Not for us, those Asian values.
  • But the truth is that Taiwan, one of Asia’s most vibrant and boisterous democracies, is a terrible example to cite as a cultural other populated by submissive peons
  • Taiwan’s self-confidence and collective solidarity trace back to its triumphal self-liberation from its own authoritarian past, its ability to thrive in the shadow of a massive, hostile neighbor that refuses to recognize its right to chart its own path, and its track record of learning from existential threats.
  • There is no doubt that in January it would have been difficult for the US to duplicate Taiwan’s containment strategy, but that’s not because Americans are inherently more ornery than Taiwanese
  • It’s because the United States has a miserable record when it comes to learning from its own mistakes and suffers from a debilitating lack of faith in the notion that the government can solve problems—something that dates at least as far back as the moment in 1986 when Ronald Reagan said, “The nine most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’”
  • The Taiwan-US comparison is the opposite of a clash of civilizations; instead, it’s a deathly showdown between competence and incompetence.
  • To be fair, there are some cultural aspects of East Asian societies that may work in Taiwan’s favor
  • There is undeniably a long tradition in East Asia of elevating scholars and experts to the highest levels of government,
  • The country’s president Tsai Ingwen, boasts a PhD from the London School of Economics, and the vice president, Chen Chien-jen, is a highly regarded epidemiologist
  • The threat of SARS put Taiwan on high alert for future outbreaks, while the past record of success at meeting such challenges seems to have encouraged the public to accept socially intrusive technological interventions.
  • First, and most important was Taiwan’s experience battling the SARS outbreak in 2003, followed by the swine flu in 2009
  • “Taiwan actually has a functioning democratic government, run by sensible, well-educated people—the USA? Not so much.”)
  • Taiwan’s commitment to transparency has also been critical
  • In the United States, the Trump administration ordered federal health authorities to treat high-level discussions on the coronavirus as classified material.
  • In Taiwan, the government has gone to great lengths to keep citizens well informed on every aspect of the outbreak, including daily press conferences and an active presence on social media
  • “Do not forget that Taiwan has been under China’s threat constantly,” wrote Wang Cheng-hua, a professor of art history at Princeton, “which has raised social consciousness about collective action. When the collective will supports government, then all of the strict measures implemented by the government make sense.”
  • Over the past quarter-century, Taiwan’s government has nurtured public trust by its actions and its transparency.
  • The democracy activists who risked their lives and careers during the island nation’s martial law era were not renowned for their willingness to accept government orders or preach Confucian social harmony
  • some of the current willingness to trust what the government is telling the people is the direct “result of having experienced the transition from an authoritarian government that lied all the time, to a democratic government and robust political dialogue that forced people to be able to evaluate information.”
  • Because of the opposition of the People’s Republic of China, Taiwan is not a member of the United Nations or the World Health Organization
  • “The reality of being isolated from global organizations,” wrote Tung, “also makes Taiwanese very aware of the publicity of its success in handling a crisis like this. The more coverage from foreign media, the more people feel confident in government policy and social mobilization.”
  • Given what we know about Taiwan’s hard-won historical experience, could the US have implemented a similar model?
  • The answer, sadly, seems to be no
  • it would be impossible for the US to successfully integrate a health care database with customs and travel records because there is no national health care database in the United States. “The US health care system is fragmented, making it difficult to organize, integrate, and assess data coming in from its various government and private-sector parts,”
  • more tellingly, continued Fidler, “the manner in which the United States has responded to Covid-19 demonstrates that the United States did not learn the lessons from past outbreaks and is struggling to cobble together a semblance of a strategy. ”
  • There’s where the contrast between the United States and Taiwan becomes most salient. The US is not only bad at the act of government but has actively been getting worse.
  • But Taiwan’s own success at building a functional democracy is probably the most potent rebuke to the Asian values thesis.
  • But over that same period, powerful political and economic interests in the US have dedicated themselves to undermining faith in government action, in favor of deregulated markets that have no capacity to react intelligently or proactively to existential threats.
  • And instead of learning from history, US leaders actively ignore it, a truth for which there could be no better symbolic proof than the Trump administration’s dismantling of the National Security Council pandemic office created by the Obama administration in the wake of the Ebola outbreak
  • Finally, instead of seeking to keep the public informed to the best of our ability, some of our political leaders and media institutions have gone out of their way to muddy the waters.
  • In Taiwan, one early government response to the Covid-19 outbreak was to institute a fine of $100,000 for the act of spreading fake news about the epidemic.
  • In the US the most popular television news network in the country routinely downplayed or misrepresented the threat of the coronavirus, until the severity of the outbreak became too large to ignore.
  • If there is any silver lining here, it’s that the disaster now upon us is of such immense scope that it could finally expose the folly of the structural forces that have been wreaking sustained havoc on American governmental institutions
  • So maybe we are finally about to learn that competence matters, that educated leaders are a virtue, and that telling the truth is a responsibility
  • Americans might have to learn this the hard way, like we did in Hong Kong and Singapore.”
  • We’re about to find out how hard it’s going to be. But will we learn?
delgadool

N.Y.P.D. Releases Secret Misconduct Records After Repeal of Shield Law - The New York T... - 0 views

www.nytimes.com/...nypd-discipline-records.html

politics policy

shared by delgadool on 09 Mar 21 - No Cached
  • Inspired by racial justice protests, the Legislature repealed a law blocking police misconduct records from scrutiny. Now the outcomes of thousands of cases are available online.
  • Mayor Bill de Blasio and Police Commissioner Dermot F. Shea have said that releasing the records would allow the nation’s largest police department to respond to public demands for accountability and transparency by showing it has a strong disciplinary system.
  • But police reform advocates criticized the administration on Monday for continuing to withhold information about misconduct cases that did not result in a finding or admission of guilt by the officer — the vast majority of the records — even after a federal appeals court made it clear that the city could release them.
  • ...6 more annotations...
  • “It is a slap in the face to every New Yorker that took to the streets and the polls demanding an end to the secrecy shrouding N.Y.P.D. abuse,” s
  • And last month, a federal appeals court rejected a last-ditch legal challenge from police unions, which argued that releasing the records would put officers in danger and harm their careers.
  • Before the secrecy law was repealed last year, New York was one of more than 20 states that did not make police disciplinary records public.
  • Critics said, however, that the database presented only a sliver of the universe of misconduct allegations, obscuring the full picture. The profiles of some notable officers known to have been disciplined in the time period covered by the data show no record of those charges.
  • The city announced plans to publish disciplinary summaries proactively online last summer, after the Legislature removed the law. Police unions, joined by those representing firefighters and corrections officers, sued in federal court and won a temporary delay.
  • Susan Hutson, New Orleans’s independent police monitor since 2010, said the scope of the records being released in New York is “ahead of the game,” and other cities would be paying attention.
rerobinson03

Tasked to Fight Climate Change, a Secretive U.N. Agency Does the Opposite - The New Yor... - 0 views

www.nytimes.com/...nal-maritime-organization.html

shared by rerobinson03 on 03 Jun 21 - No Cached
  • It was a breach of the secrecy at the heart of the I.M.O., a clubby United Nations agency on the banks of the Thames that regulates international shipping and is charged with reducing emissions in an industry that burns an oil so thick it might otherwise be turned into asphalt. Shipping produces as much carbon dioxide as all of America’s coal plants combined.
  • Next week, the organization is scheduled to enact its first greenhouse gas rules since Paris — regulations that do not cut emissions, have no enforcement mechanism and leave key details shrouded in secrecy. No additional proposals are far along in the rule-making process, meaning additional regulations are likely five years or more away.
  • So if the I.M.O. does not curb shipping emissions, it is unclear who will. And for now, the agency is not rushing to change.
  • ...6 more annotations...
  • But global warming changed things. Seas are rising. Homes are washing away. Much of the nation could become unlivable in the coming decade.Now, the Marshall Islands are putting forward a moonshot environmental plan, a carbon tax that would penalize polluters. It is a shot across the bow of the I.M.O.’s industrial and political forces.
  • At United Nations climate meetings, countries are typically represented by senior politicians and delegations of government officials. At the maritime organization’s environmental committee, however, one in four delegates comes from industry, according to separate analyses by The New York Times and the nonprofit group Influence Map.
  • The Cook Islands, another Pacific archipelago, make a similar argument. Like the Marshalls, they face rising seas and an uncertain future. But the more immediate concerns are jobs and cost of living, said Joshua Mitchell, of the country’s foreign office. “Existential questions have to be balanced against the priorities of the country in the moment,” he said.
  • Ultimately, France ceded to nearly all of China’s requests, records show. The dirtiest ships would not be grounded. Shipowners would file plans saying they intended to improve, would not be required to actually improve.
  • German delegates were so upset that they threatened to oppose the deal, likely triggering a cascade of defections, according to three people involved in the talks. But European Union officials rallied countries behind the compromise, arguing that Europe could not be seen as standing in the way even limited progress.
  • And just last week, delegates met in secret to debate what should constitute a passing grade under the new rating system. Under pressure from China, Brazil and others, the delegates set the bar so low that emissions can continue to rise — at roughly the same pace as if there had been no regulation at all.
rerobinson03

Tasked to Fight Climate Change, a Secretive U.N. Agency Does the Opposite - The New Yor... - 0 views

www.nytimes.com/...nal-maritime-organization.html

shared by rerobinson03 on 07 Jun 21 - No Cached
  • It was a breach of the secrecy at the heart of the I.M.O., a clubby United Nations agency on the banks of the Thames that regulates international shipping and is charged with reducing emissions in an industry that burns an oil so thick it might otherwise be turned into asphalt. Shipping produces as much carbon dioxide as all of America’s coal plants combined.
  • An agency lawyer underscored that point last fall in addressing the Saudi complaint. “This is a private meeting,” warned the lawyer, Frederick J. Kenney.Next week, the organization is scheduled to enact its first greenhouse gas rules since Paris — regulations that do not cut emissions, have no enforcement mechanism and leave key details shrouded in secrecy. No additional proposals are far along in the rule-making process, meaning additional regulations are likely five years or more away.
  • The stakes are high. Shipping, unlike other industries, is not easily regulated nation-by-nation. A Japanese-built tanker, for instance, might be owned by a Greek company and sailed by an Indian crew from China to Australia — all under the flag of Panama.
  • ...4 more annotations...
  • Industry officials and the maritime organization say such arrangements give a voice to the experts. “If you don’t involve the people who are actually going to have to deliver, then you’re going to get a poor outcome,” said Guy Platten, secretary general of the International Chamber of Shipping.
  • The company, based in Virginia, did all the work and, on paper, the Marshall Islands became home to one of the world’s largest fleets. The government shared in the revenue — roughly $8 million a year as of recently, one official said.Things got thorny, however, when the foreign minister, Tony de Brum, traveled to the I.M.O. in 2015. His stories of his vanishing homeland had given urgency to the Paris talks and he expected a similar reception in London.
  • When delegates met last October — five years after Mr. de Brum’s speech — the organization had not taken any action. Proposals like speed limits had been debated and rejected.
  • German delegates were so upset that they threatened to oppose the deal, likely triggering a cascade of defections, according to three people involved in the talks. But European Union officials rallied countries behind the compromise, arguing that Europe could not be seen as standing in the way of even limited progress.
anonymous

Congress Poised to Apply Banking Regulations to Antiquities Market - The New York Times - 0 views

www.nytimes.com/...quities-market-regulation.html

Politics

shared by anonymous on 04 Jan 21 - No Cached
  • Regulators have long worried that the secrecy of the antiquities trade, where buyers and sellers are seldom identified, made it an easy way to launder money.
  • “We believe this type of legislation is long overdue,” said John Byrne, a lawyer with 30 years of experience in anti-money-laundering rules. “This is an area where clearly organized crime, terrorists, and oligarchs have used cultural artifacts to move illicit funds.”
  • “Over the last decade, we’ve been working with all the industries and stakeholders to build a bill that satisfies everyone,” said Representative Carolyn B. Maloney, a New York Democrat, who introduced the Corporate Transparency Act in 2019 and later shepherded that bill into the defense package. “We are at a point that we’ve built so much support that it became impossible to oppose the bill.”
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  • The new legislation calls for a study on the role of art in money laundering and terror financing. (A recent Senate report has already outlined how at least two Russian oligarchs had exploited the opaqueness of the art world to bypass U.S. sanctions.) If the study finds a link between the art market and illicit activity, it could, upon congressional review, trigger the creation of rules similar to the ones now concerning the antiquities trade. Regulators have also signaled that the Bank Secrecy Act could be further extended into the art market.“You have to know who is buying and selling,” Mr. Byrne said. “The argument that you have no obligation to report suspicious activity because you are in the private sector doesn’t work. Banks lost that argument 30 years ago.”
Javier E

The Center Cannot Hold | Foreign Affairs - 0 views

www.foreignaffairs.com/...center-cannot-hold

China US rivalry competition cooperation climate change pandemic europe

shared by Javier E on 21 Sep 21 - No Cached
  • the debate over whether great-power competition or transnational threats pose the greater danger to the United States is a false one. Look back at strategic assessments from ten years ago on China and Russia, on the one hand, and those on pandemics and climate change, on the other, and it is clear that Washington is experiencing near-worst-case scenarios on both. Great-power rivalry has not yet sparked a hot war but appears to be on the brink of sparking a cold one. Meanwhile, the worst pandemic in a century is not yet over, and the climate crisis is only accelerating. 
  • What COVID-19 has made powerfully clear is that this is an age of transnational threats and great-power competition—one in which the two phenomena exacerbate each other.
  • By the same token, ramping up competition with China without a plan to rally the world to deal with transnational threats (which can themselves fuel rivalry between great powers) would only guarantee future disasters. 
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  • Attempting to ease tensions with China to make cooperation on global public health possible won’t work, partly because Beijing cannot credibly commit to being more transparent and cooperative in the future.
  • For China’s leaders, the pandemic revealed the inexorable decline of the West, confirmed Beijing’s power and capabilities, and created more latitude for the CCP to do as it wished.
  • But in case cooperation fails, it must have a backup plan to rally allies and partners to provide a much greater share of global public goods, even if that means shouldering more of the costs.
  • as a number of U.S. embassy officials told the foreign policy analyst Colin Kahl and me for our book Aftershocks, this team’s cooperation with the Chinese government became more challenging as U.S.-Chinese rivalry intensified, largely because of China’s actions.
  • When COVID-19 hit, the Chinese Communist Party (CCP) maintained near-absolute secrecy. All channels of communication between Beijing and Washington went silent, as they did between Beijing and other governments. Chinese leaders sought to conceal vital information about the emerging epidemic in China from the rest of the world, even attempting to prevent Chinese scientists from sharing the genetic sequence of the virus with scientists in other countries.
  • It is impossible to say for certain why the Chinese government behaved the way it did, but secrecy and control make sense in light of what the vast majority of China experts believe to be Xi’s top priority: regime survival.
  • Xi did not want to facilitate an international response to COVID-19 that could have attributed blame to China or isolated it through travel restrictions, either of which might have damaged the regime’s domestic legitimacy. Instead, Xi leveraged the pandemic to his advantage: China’s suppression of the virus became a matter of national pride, held up by Beijing in sharp contrast to the experience of the United States.
  • according to the UN, the pandemic could force a total of 490 million people into poverty—defined as the loss of access to clean water, adequate food, or shelter—pushing the global poverty rate to around seven percent by 2030, compared with the pre-pandemic target of three percent. 
  • Contrary to popular belief, some senior Trump administration officials grasped the national security threat posed by the virus faster than their European counterparts did. Top officials in the National Security Council began focusing on the pandemic in early January, just days after news of the outbreak in Wuhan, China, became public.
  • ven though Pottinger and other NSC officials were wise to the danger, they ultimately failed to persuade Trump to make the necessary preparations to deal with the pandemic when it inevitably reached the United States. 
  • As the administration began to formulate its response, those who favored a more comprehensive public health approach both at home and abroad were excluded or marginalized at crucial moments. The result was that the Trump administration focused more on holding China responsible for the outbreak and reducing U.S. reliance on Beijing than on the minutiae of global public health policy or the hard work of rallying the world to tackle the pandemic.
  • the pandemic and China’s response to it helped unify the administration behind a more comprehensive strategy to push back against Beijing. Between March 2020 and the end of the year, the senior official said, the United States put in place more containment measures than it had in the previous three years, including restrictions on Chinese technology firms, sanctions on Chinese officials, looser regulations on diplomatic contacts with Taiwan, and recognition of the repression in Xinjiang as a genocide. In this sense, the pandemic was a pivotal moment in the U.S.-Chinese rivalry. 
  • Competition between the two countries overwhelmed everything else, including U.S. cooperation with allies on the pandemic, leaving a global leadership vacuum that no one could fill.
  • The EU tried to step up by increasing funding for the WHO and for COVAX, the global initiative to share vaccines, but it never came close to organizing a global response. China’s assertive foreign policy, and its attempts to use pandemic assistance to advance its interests, aggravated European leaders and convinced them to harden their positions toward China throughout the course of 2020. 
  • During this period, there was hardly any international cooperation on vaccine development or distribution, no coordination on travel restrictions or the distribution of medical supplies, and limited cooperation on achieving a cessation of hostilities in conflict zones
  • The United States needs a strategy to address transnational threats under the conditions of great-power competition. It must aim to cooperate with rivals, especially China, to prepare for future pandemics and to tackle climate change
  • The economic disruption caused by COVID-19 devastated low-income countries, which received little in the way of international assistance. Especially hard hit were countries, such as Bangladesh, that had made significant development gains in the last two decades and were propelling themselves into the lower tier of middle-income economies.
  • Pandemics are not the only transnational threat that promises to intensify great-power rivalry and diminish the prospects for much-needed cooperation. Climate change could do the same.
  • the real challenge is determining what to do when cooperation with China and other rivals falls short of what is required. The United States needs a backup plan to tackle shared challenges through coalitions of the willing.
  • Countries that aggressively decarbonize could place sanctions and other trade restrictions on countries that do not, leading to counterresponses and new trade wars.
  • the impediments to cooperation between Europe and China on climate change “are becoming higher” and warn that “decision-makers must not underestimate the highly competitive aspects of how China is changing its energy production and consumption.” 
  • The United States and Europe will both compete with China for access to raw materials and in developing the technology needed to make their economies carbon neutral: magnets, batteries, high-performance ceramics, and light-emitting diodes, among other things
  • even if the U.S. government remains broadly aligned with Europe on climate policy, the Europeans could still become disaffected if Congress blocks meaningful climate action, such as commitments to cut carbon emissions or invest in clean technology. This, in turn, could diminish Europe’s willingness to help uphold the U.S.-led international order.
  • If, on the one hand, they mean softening U.S. rhetoric without conceding much of substance to China, they would do well to look to Europe, where governments were much more inclined than the Trump administration to cooperate with China, but China did not take them up on the offer.
  • If, on the other hand, they mean unilaterally making major geopolitical concessions to China—on its territorial acquisitions in the South China Sea, for instance, or the status of Taiwan—the United States would not only pay an extremely high price but also likely embolden Beijing further without actually securing cooperation on pandemics or climate change beyond what Beijing has already offered.
  • There is no getting around strategic competition with Beijing: it is deeply embedded in the international order, mainly because China seeks to expand its sphere of influence in Asia at the expense of the United States and its allies, which are in turn committed to thwarting Beijing’s plans.
  • The United States and China are also engaged in what Jake Sullivan, Biden’s national security adviser, recently called “a competition of models.” China is seeking to make the world safe for the CCP and to demonstrate the effectiveness of its system. This entails pushing back against what it sees as pressure from liberal democratic countries that could thwart its objectives. For its part, the United States worries about the negative externalities of Chinese authoritarianism, such as censorship of international criticism of Beijing or the export of its tools of repression to other countries.
  • The United States also worries about what would happen to the military balance of power if China secured an enduring advantage in key technologies.
  • Even in diplomacy, friction will be endemic to the U.S.-Chinese relationship and will affect the broader international order for the foreseeable future. Outright confrontation can be avoided—but competition cannot. 
  • This competition places real limits on cooperation. Take the arena of global public health: many studies on how to improve pandemic preparedness call on world leaders to dramatically strengthen the WHO, including by giving it the same power to enforce international health regulations as the International Atomic Energy Agency enjoys with nuclear nonproliferation rules
  • The problem is getting every government to agree to a universally applicable mechanism for sanctions or some other enforcement mechanism. China will not agree to any reform that would involve intrusive inspections of its scientific research facilities.
  • The need for cooperation on transnational threats must change how the United States competes with China—not whether it competes.
  • U.S. officials should not give up on China entirely; instead, they should make a good-faith effort to work with Beijing, both bilaterally and in multilateral settings. Recognizing that there are strict limits on U.S.-Chinese cooperation is not the same as saying that no cooperation is possible.
  • Rather than unite the world around a common purpose, climate change is likely to deepen competition between major powers, especially as the transition away from fossil fuels creates economic winners and losers.
  • When it comes to pandemic preparedness, this means fully supporting the WHO (including by pressing for needed reforms) but also forging a coalition of like-minded states: a global alliance for pandemic preparedness that would regularly convene at the head-of-state level and work alongside nongovernmental organizations and the private sector.
  • Crucially, whenever the WHO declared an international public health emergency, alliance members would coordinate on travel and trade restrictions, as well as on public messaging and financial penalties and sanctions. Those penalties and sanctions would be aimed at those states that failed to provide sufficient access to or fully cooperate with the WHO. The alliance would support, not supplant, the WHO.
  • Sustained, managed competition with China could potentially help the United States build bipartisan support for investments in clean technology that would prevent Beijing from gaining an enduring advantage in this area.
  • ut the United States and the European Union will also need to build coalitions of the willing to deal with the international security consequences of accelerated climate change, such as extreme weather events that threaten large numbers of people, and to address the foreign policy dimensions of climate action, including managing the risk that a shift away from fossil fuels could destabilize countries and regions that are dependent on oil exports.
  • Cooperation across this divide should always be the first choice in times of shared crisis, but as the COVID-19 pandemic has demonstrated, the U.S.-led constellation must always have a backup plan. It did not have one in 2020. It needs one for the next crisis
Javier E

Fiber Optic Breakthrough to Improve Internet Security Cheaply - NYTimes.com - 1 views

www.nytimes.com/...internet-security-cheaply.html

cybersecurity

shared by Javier E on 21 Nov 12 - No Cached
  • Despite their ability to carry prodigious amounts of data, fiber-optic cables are also highly insecure. An eavesdropper needs only to bend a cable and expose the fiber, Dr. Shields said. It is then possible to capture light that leaks from the cable and convert it into digital ones and zeros. “The laws of quantum physics tell us that if someone tries to measure those single photons, that measurement disturbs their state and it causes errors in the information carried by the single photon,” he said. “By measuring the error rate in the secret key, we can determine whether there has been any eavesdropping in the fiber and in that way directly test the secrecy of each key.”
Javier E

Ending the Corporate Tax Hide-and-Seek - NYTimes.com - 0 views

opinionator.blogs.nytimes.com/...the-corporate-tax-dodge

tax policy corporations avoidance US global

shared by Javier E on 24 May 13 - No Cached
  • As muddled and broken as the individual income tax system may be, the rules under which the government collects corporate levies are far more loophole-ridden and counterproductive.
  • Unlike individuals, multinational corporations can shuttle profits — and sometimes even their headquarters — around the globe in search of the jurisdiction willing to cut them the best deal on taxes (and often other economic incentives). Much of this occurs under the guise of “transfer pricing,” the terms under which one subsidiary of a multinational sells products to another subsidiary. The goal is to generate as high a share of profit as possible in the lowest-taxed jurisdictions.
  • subsidiaries of United States corporations operating in the top five tax havens (the Netherlands, Ireland, Bermuda, Switzerland and Luxembourg) generated 43 percent of their foreign profits in those countries in 2008, but had only 4 percent of their foreign employees and 7 percent of their foreign investment located there.
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  • All in all, it is a race to the bottom on the part of revenue-starved governments eager to attract even a relatively small number of new jobs.
  • As a consequence, the effective corporate tax rate in the United States fell to 17.8 percent in 2012 from 42.5 percent in 1960,
  • That’s just not fair at a time of soaring corporate profits and stagnant family incomes.
  • Business groups, naturally, say the best way to bring jobs and cash home is for Washington to stop taxing profits earned overseas by American companies altogether. But that idea makes little sense. While changing to this “territorial system” would allow some of the estimated $1.7 trillion of cash “trapped” overseas to come home free of tax, it would both cost the Treasury an estimated $130 billion in revenue over the next 10 years and provide greater incentives for American companies to continue to move jobs and production overseas.
  • the gaming of the tax system is becoming a global concern, with an action plan coming from the Organization for Economic Cooperation and Development in July. The O.E.C.D. should work toward taxing business profits where they actually occur, not where they’ve been shifted by some tax adviser.
  • we should consider taxing a greater share of the profits made by companies not at the corporate level, where they are subject to oh-so-much gaming, but rather at the shareholder level.
  • As corporate taxes have declined, corporate profits have increased. That has pushed up stock prices and been a boon to shareholders. It hardly seems unfair to ask those who already benefit from bargain tax rates on capital gains and dividends to share some of those gains with the government.
Javier E

Exposés of China's Elite a Big Lure in Hong Kong - NYTimes.com - 0 views

www.nytimes.com/...e-a-big-lure-in-hong-kong.html

china elite secrecy

shared by Javier E on 19 May 13 - No Cached
  • “You don’t have to read the People’s Daily, because that won’t tell you what’s really going on, but you have to read these,” said Ho Pin, an exiled Chinese journalist who runs Mirror Books, a company based in New York that publishes muckraking books and magazines in Chinese. Chinese officials visiting Hong Kong often buy them as gifts for fellow officials, he said. “In the past, you’d give a mayor a bottle of liquor. But that’s nothing these days, and so is a carton of cigarettes,” Mr. Ho said. “But if you give him one of our books or magazines, he’ll be very happy.”
Javier E

"U.S. Practiced Torture After 9/11, Nonpartisan Review Concludes" - 0 views

www.nytimes.com/...partisan-review-concludes.html

torture

shared by Javier E on 16 Apr 13 - No Cached
  • A nonpartisan, independent review of interrogation and detention programs in the years after the Sept. 11, 2001, terrorist attacks concludes that “it is indisputable that the United States engaged in the practice of torture” and that the nation’s highest officials bore ultimate responsibility for it.
  • U.S. Practiced Torture After 9/11, Nonpartisan Review Concludes
  • there never before had been “the kind of considered and detailed discussions that occurred after 9/11 directly involving a president and his top advisers on the wisdom, propriety and legality of inflicting pain and torment on some detainees in our custody.”
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  • The task force found “no firm or persuasive evidence” that these interrogation methods produced valuable information that could not have been obtained by other means. While “a person subjected to torture might well divulge useful information,” much of the information obtained by force was not reliable, the report says.
  • The use of torture, the report concludes, has “no justification” and “damaged the standing of our nation, reduced our capacity to convey moral censure when necessary and potentially increased the danger to U.S. military personnel taken captive.”
  • the report’s main significance may be its attempt to assess what the United States government did in the years after 2001 and how it should be judged. The C.I.A. not only waterboarded prisoners, but slammed them into walls, chained them in uncomfortable positions for hours, stripped them of clothing and kept them awake for days on end.
  • the Constitution Project study was initiated after President Obama decided in 2009 not to support a national commission to investigate the post-9/11 counterterrorism programs, as proposed by Senator Patrick J. Leahy, Democrat of Vermont, and others. Mr. Obama said then that he wanted to “look forward, not backward.” Aides have said he feared that his own policy agenda might get sidetracked in a battle over his predecessor’s programs.
  • The panel found that the United States violated its international legal obligations by engineering “enforced disappearances” and secret detentions. It questions recidivism figures published by the Defense Intelligence Agency for Guantánamo detainees who have been released, saying they conflict with independent reviews.
  • It describes in detail the ethical compromise of government lawyers who offered “acrobatic” advice to justify brutal interrogations and medical professionals who helped direct and monitor them. And it reveals an internal debate at the International Committee of the Red Cross over whether the organization should speak publicly about American abuses;
  • “I had not recognized the depths of torture in some cases,” Mr. Jones said. “We lost our compass.”
  • it is critical of some Obama administration policies, especially what it calls excessive secrecy. It says that keeping the details of rendition and torture from the public “cannot continue to be justified on the basis of national security” and urges the administration to stop citing state secrets to block lawsuits by former detainees.
  • The core of the report, however, may be an appendix: a detailed 22-page legal and historical analysis that explains why the task force concluded that what the United States did was torture. It offers dozens of legal cases in which similar treatment was prosecuted in the United States or denounced as torture by American officials when used by other countries.
  • The report compares the torture of detainees to the internment of Japanese Americans during World War II. “What was once generally taken to be understandable and justifiable behavior,” the report says, “can later become a case of historical regret.”
ethanmoser

October surprises: How Wikileaks and ObamaCare hikes are shaking up the race | Fox News - 0 views

www.foxnews.com/...hikes-are-shaking-up-race.html

wikileaks obamacare politics us

shared by ethanmoser on 28 Oct 16 - No Cached
  • October surprises: How Wikileaks and ObamaCare hikes are shaking up the race
  • This roller-coaster campaign has a couple of twists and turns left, and that’s not good news for the woman who many in the media are ready to inaugurate.
  • The spike in ObamaCare premiums and dwindling insurance options gives Donald Trump a much-needed issue against Hillary Clinton, a longtime champion of universal health care.
  • ...10 more annotations...
  • The latest Wikileaks dump shows that Clinton’s own inner circle was worried about her dissembling and reluctance to apologize over the email mess, even as the campaign ripped the press for raising those questions. --The media are a bit bored with the story line that she’s clobbering him and want the race to tighten.
  • But now we have Podesta himself and former Clinton aide Neera Tanden writing frankly about Hillary’s penchant for secrecy and terrible political judgment.
  • Podesta ripped two longtime loyalists, lawyer Cheryl Mills and spokesman Philippe Reines, along with Clinton attorney David Kendall, for not being “forthcoming on the facts.”
  • “A lot has to do with her instincts.” Tanden concurred again: “Her instincts can be terrible.”
  • When the press was harping on the fact that Clinton would not apologize for having a private server, and campaign officials were pushing back hard, it turns out that some privately agreed with the critics.
  • “Everyone wants her to apologize. And she should. Apologies are like her Achilles heel.”
  • The disclosure that ObamaCare premiums are rising an average of 25 percent—more in some states, less in others—has provided a measure of vindication for the program’s conservative detractors. It has also given Trump, who wants to repeal ObamaCare, new ammunition against Clinton, who wants to reform it—in part by increasing government subsidies.
  • The steep premium hikes, and dwindling insurance options in some areas, make clear that President Obama oversold the program.
  • Now Trump clearly bobbled a statement about his own employees being affected by ObamaCare—only a small percentage are, his company pays the rest—but that doesn’t neutralize the larger issue.
  • he press has been hungry for a new story line so people don’t check out in the final two weeks. The Wikileaks dump, ObamaCare news and some tightening polls in Florida are all it takes. Perhaps the media will shelve the speculation about Clinton’s Cabinet and treat this once again as a horse race.
maddieireland334

Argentine Court Confirms a Deadly Legacy of Dictatorships - The New York Times - 0 views

www.nytimes.com/...y-legacy-of-dictatorships.html

Argentina Crisis Dictatorship History Trial

shared by maddieireland334 on 29 May 16 - No Cached
  • Mr. Molfino’s mother, Noemí Gianotti de Molfino, a 54-year-old Argentine, was a victim of Operation Condor, a plan devised by six South American military governments in the 1970s to hunt down and eliminate leftist dissidents across national borders.
  • In a landmark trial that spanned three years and involved the cases of more than 100 victims, a four-judge panel on Friday convicted and sentenced 14 former military officers for their roles in Operation Condor, a scheme of kidnappings, torture and killings.
  • For the first time, a court in the region ruled that the leaders of Argentina, Bolivia, Brazil, Chile, Paraguay and Uruguay had worked together in a regionwide criminal conspiracy against opponents, some of whom had fled to exile in neighboring countries, during an era of military dictatorships in the 1970s and ’80s.
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  • South American military governments in the 1970s and 1980s kidnapped and murdered thousands of rebel guerrillas and dissidents. Operation Condor accounted for at least 377, according to a joint report by a unit of Unesco and the Argentine government in 2015.
  • In other South American countries, efforts to bring violators of human rights to justice have sputtered. But over the past decade, Argentina has carried out scores of trials in which at least 666 people have been convicted of crimes during Argentina’s “dirty war” of the 1970s and ’80s.
  • Judges received testimony from about 370 witnesses over three years, but some of defendants died during the trial, annulling the cases of their victims. For their relatives, the convictions on Friday were tinged with frustration.
  • Sara Rita Méndez, 72, a survivor of Operation Condor who was kidnapped and tortured in Argentina in 1976 and then detained for years in her native Uruguay, said: “These trials are fundamental. They generate confidence in society.”
  • Operation Condor was conceived in November 1975 during meetings hosted by the Chilean dictator Augusto Pinochet, who enlisted the leaders of Argentina, Bolivia, Brazil, Paraguay and Uruguay. Peru and Ecuador joined later.
  • With President Obama’s recent order to declassify additional American records that could reveal what the United States government knew about Argentina’s “dirty war,” hopes of piercing the shroud of secrecy surrounding other atrocities of the era have been revived, although it is unclear when the documents will become available.
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