Treasure Islands Uncovering the Damage of Offshore Banking and Tax Havens

"A fascinating, chilling book."--Paul Krugman, "The New York Times""This book is a vigorous and well researched polemic against financial deregulation..."--Richard Cooper, "Foreign Affairs""Shaxson's story of offshore banking is nothing short of Shakespearean, a drama full of secrecy, treachery and corruption in which wealthy countries, companies and individuals collude to horde wealth in a complex global network of largely unregulated tax havens. To realize this end, they install corrupt leaders, exploit indigenous populations and, ultimately, deny both developed and developing nations of vital tax dollars. There is much here that should generate outrage...An admirable job of both arguing the consequences of offshore banking and providing a succinct history of the practice."--"Kirkus""A blistering account of the role that tax havens play in international finance. . . brilliant."--"London Review of Books""Perhaps the most important book published in the UK so far this year."--George Monbiot, "The Guardian""Shaxson provides a fascinating narrative that is both analytically compelling and rich in institutional detail."--"New York Times" Economix blog" A useful critique."--Tyler Cowen, Marginal Revolution"Treasure Islands, Nicholas Shaxson's excellent book on the global offshore tax system."--FT Alphaville"Treasure Islands has prised the lid off an important and terrifying can of worms."--"Literary Review""Shaxson shows us that the global financial machine is broken and that very few of us have noticed."--"New Statesman""In this riveting, well-written expose, Shaxson goes deep into the largely unexamined realm of offshore money. In the process, he reveals that this shadow world is no mere sideshow, but is troublingly central to modern finance, with the US and the UK as leaders. The resulting abuses are widespread, ranging from tax revenue stripping from African nations to individuals and corporations escaping enforcement and accountabil