Leo E. Strine Jr., come on down. Read more »
So there’s this guy. A mild-mannered professor who retired a decade ago and decided he would serve as an independent director of this new booming financial product called a CDO. He collected a few thousand bucks a year for basically signing some documents. Sounded like a decent gig and a good way to make some extra pocket change. Read more »
Tax cheats are fast running out of tax shelters. The latest to submit to international standards are Singapore and Liechtenstein.
The former was removed from the OECD’s “grey” list on Wednesday and the latter today, after it signed its 12th bilateral information-sharing agreement with (ugh) the French. The city-state sought to reassure the many tax-evaders who have brought their money to its spit-and-gum-free shores, but methinks they doth protest too much.
Pouting all the way, MF Global plans to reincorporate in the U.S., abandoning Bermuda for Delaware.
The futures brokerage, formerly part of the Man Group, has recently been whining a whole lot about how unfair and anti-competitive all of those billions in U.S. government bailout bucks to banks have been. We do not necessarily disagree. But such gripes about competitive disadvantages are pretty rich coming from a company based in Bermuda, and for all of the right reasons, we’re sure.
“We want to operate in a regulatory environment that benefits from the regulatory reforms discussed in Washington,” MF CEO Bernard Dan said. Plus, Delaware has recently been named the bestest damned tax shelter on God’s green earth, while Bermuda seems intent on driving out all of its financial firms with potentially ugly new taxes.