Published on Triple Crisis, by Sara Hsu, January 16, 2014.
The global financial crisis that began in 2008 in the United States had roots in offshore banking, some of which have been revealed: the Bear Stearns’ 2007 Cayman Island hedge fund bankruptcy, in which the company attempted to file offshore to protect U.S. assets, Goldman Sachs’ off balance sheet Cayman deals in shaky asset-backed securities (ABSs), and Citigroup’s creation of structured investment vehicles in London to hide the sales of ABSs. Continuer la lecture de « Offshore Banking, Fraud, and the Crisis »