US States Under Pressure As World Pushes For Financial Transparency

[Judi Lynn]

US States Under Pressure As World Pushes For Financial Transparency

By Hamish Boland-Rudder
May 13, 2016

.S. states Nevada, Wyoming and Delaware are facing growing pressure to address their lack of corporate transparency, as the United States and the international community continue to respond to fallout from the Panama Papers.

At a London anti-corruption summit on Thursday, representatives from the Cayman Islands, Bermuda and the Isle of Man warned that the “hypocrisy” of the U.S. was hurting the global push for greater financial transparency.

The summit, hosted by British Prime Minister David Cameron and attended by leaders and high-ranking officials from around the world, has drawn increased public attention after the Panama Papers investigation by ICIJ, German newspaper Süddeutsche Zeitung and more than 100 media partners revealed new details about how the world’s rich and powerful use and sometimes abuse secrecy jurisdictions and tax havens.

U.S. Secretary of State John Kerry compared the threat posed by corruption to the threat posed by terrorism, and urged attendees to work together in the fight for transparency.

More:
https://panamapapers.icij.org/20160513-us-states-london-summit.html

[Baobab]

2. Finally - corruption is as bad as terrorism

Its far worse because it destroys peoples faith in government and the future

>U.S. Secretary of State John Kerry compared the threat posed by corruption to the threat posed by terrorism, and urged attendees to work together in the fight for transparency.