How tax havens helped to create a crisis

posted by fincrisis | Fri, 08/05/2009 - 10:28

Banks employ large teams of highly paid people to devise transactions mainly for the purpose of avoiding tax. These activities seem to be far more profitable than the humdrum business of managing payments and channelling savings towards investment. Why?

Full article available at:
http://www.ft.com/cms/s/0/96ec9414-39a6-11de-b82d-00144feabd...

Further Information Original publisher: The Financial Times
Original author: Sol Picciotto
Original publication date: 05.05.2009