As he hosts a global anti-corruption summit – which got plenty of advance publicity through his hot mic comments – Prime Minister David Cameron is promising a “crackdown” on money laundering through Britain’s property market. But is more fundamental change needed?
Jeffrey Sachs writes in The Guardian:
The UK and the US are at center of the system of global abuse. Britain created the modern world of global finance in the 19th and early 20th centuries, and Wall Street became co-leader with the City of London after the second world war. In both countries, hundreds of thousands of lawyers, bankers, hedge fund operators, politicians, accountants and regulators have consciously built a system of global tax havens of the rich, by the rich, and for the rich that now hosts more than $20tn (yes, trillion) of funds hiding from taxes, law authorities, environmental regulation and accountability.
Brazil’s President Dilma Rousseff is preparing to be suspended from office today while impeachment proceedings against her run their course. Senators debated overnight and into early Thursday, but it appeared likely that she would leave office – having apparently already recorded a farewell message to the Brazilian people.
Scores of people were killed in twin bomb attacks in Iraq – the country’ worst this year.
Meanwhile, in WTAF news today…
A big day in store for the BBC with the publication of Culture Secretary John Whittingdale’s White Paper on Corporation’s charter renewal and future structure.
Some considerable kerfuffle, including potential legal action, over the proposed TV “debates” ahead of the June 23rd Brexit referendum.
Max Scherzer equalled a major league record last night, striking out 20 batters in the Washington Nationals’ win over the Detroit Tigers.
In the Premier League, Sunderland’s 3-0 win over Everton relegated their north-east rivals Newcastle United, along with Norwich City.
I guess he’s right. For next season at least…