Community | January 10, 2009 | 4 comments

Off Shore Stash Led to Crash?

source: http://link.brightcove.com/services/link/bcpid1417423198/bctid6554075001

armkaleka
This video is a great summary of one of the root causes in the economic meltdown in the States. Wall Street has gotten better at hiding money so that they need not be taxed, all the while creating complete paranoia amongst themselves so that the lending market freezes. This freeze leads to a number of economic downturns, which in the end affects the public taxpayers.

Spoiler Warning: If you have never seen the end of Reservoir Dogs, you are about to be schooled.
  1. groups:
  2. tags:
    Economy,  Wall Street,  US Economy,  World Economy,  2 more
  3. credits:
    realnews Creator, Video Journalist
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4 comments // Off Shore Stash Led to Crash? // Video

  • rob53213
    • 0
      rob53213  

    • What you and I need to do is refuse to do business with these huge companies that don't care about anything but themselves. Find a good credit union and do business with them. Find a local boutique to buy your clothing. Go to a farmer's market for your food. Make your local economy mean something, again.

      Local companies don't do these types of things.

    • 3 years ago
  • DarlingDRE
    • 0
      DarlingDRE  

    • Great piece. My only question is why the most recent statistics for off shore accounts is from 2003. Isn't there anything more recent?

    • 3 years ago
  • slmejia
  • dilpreet
    • 0
      dilpreet  

    • WOW, WOW, WOW, very good report. if people knew that citi group or for that matter all the other major corporations had so much investments in offshore accounts the bail out would not have been approved!!!

    • 3 years ago
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