Offshore : the dark side of the global economy / William Brittain-Catlin.

Offshore : the dark side of the global economy / William Brittain-Catlin.

First edition.

0374256985 (alk. paper)

New York : Farrar, Straus and Giroux, [2005]

©2005

English

272 pages ; 24 cm

9780374256982

HC152.2 .B75 2005

330.97292/1

An exposé on the hidden side of global wealth and power, this book explores what is perhaps the most mysterious aspect of global society today. The world of offshore finance is one of dummy companies, shadow bank accounts, post office boxes, foreign registries, and the like, which allow giant corporations--such as Wal-Mart, British Petroleum, and Citigroup--to keep huge profits out of sight of investors, regulators, and the public. A third of the world's wealth is held offshore. Half the capital in the world's stock exchanges is "parked" offshore at some point. Reporter and private investigator Brittain-Catlin tells how tax havens have become central to global finance today; in so doing, he takes us into the secret networks of Enron and Parmalat, behind international trade disputes, and into organized crime and terror networks, giving evidence that the key value of capitalism and civilization alike--freedom--is being put in grave danger.--From publisher description.

Includes index.

Includes bibliographical references (p. [241]-254) and index.

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