Financial Transparency Coalition

A statistician analyzes Global Financial Integrity's Illicit Financial Flow numbers, find they check out and are not fake.

Wednesday's Top Stories from GFI

This week, barring some extraordinary unforeseen circumstance, the U.S. House of Representatives will vote to reject President Obama’s request to raise the debt ceiling. “Oh no,” I can already hear America’s collective sigh. “Are you kidding me? Again?” Well, actually, not again. In case you need a reminder of the horrific events of last August (I certainly don’t want one), in what should have been a routine vote, Congress nearly failed to raise the debt ceiling, which would have sparked an economic Armageddon. I do not use that term lightly. Just in case you need another reminder, the debt ceiling has nothing...

The Isle of Man noted that the island may be used for egregious tax avoidance. It's good to see that KPMG admit that the Isle of Man is used for such schemes.