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I learned more things in this book than I typically do in 10 books combined.
Shaxson provides an eye-opening account into the seedy, underground world of offshore finance. Most of the stuff Shaxson discusses is not well known in public and is rarely commented on in mainstream media or newspapers.
For example, were you aware that the two biggest offshore zones are in fact the United Kingdom and the United States? In fact, the state of Delaware is actually the biggest "offshore" location in the United States. It has more incorporated organizations than anywhere else, and some of the laxest regulation. Just take a quick scan of some of the biggest companies in America and you'll find a majority are incorporated in Delaware (Bank of America for instance, or Sallie Mae, Amazon, Pfizer, etc.) It's too many giant companies to be merely coincidental.
The overall picture he paints is both fascinating and frightening, but it seems very possible that something could be done about tax evasion and the looting of poor countries by the rich countries if the main financial centers that aid the businesses in their looting decided to crack down in unison. But for them to ever do that, more people are going to have to understand how the whole system works. It's complicated, but very interesting and Shaxson does a great job explaining every facet of it.
As for this audio recording, I'd recommend getting it and listening to it. But be warned that the guy who does the reading does the most bizarre job I've ever listened to here at Audible. There are multiple times during the course of this book where he reads the same sentence over again. Often he'll stop, and start again with noticeable random pauses mid-sentence. A couple times he stopped reading and I could hear talking in the background. None of this is edited out -- it's like they let him read it all, first time through, and didn't do anything over and didn't bother to edit out the mistakes. Just bizarre, but he still successfully passes along the information of the book in a somewhat entertaining manner (this guy makes up about a thousand voices for the many different people Shaxson quotes from to tell his story).
Pick up this book. I liked it so much I also bought a hard copy to re-read it.
8 of 9 people found this review helpful
Treasure Islands is a book that takes you on a journey into the secret world of finance. Although I have had some experience with the subject before, I was shocked at the scale that tax fraud and secrecy has reached. The book covers both the historical background for how we ended up in todays situation, as well as up to date examples of how the financial crisis was in large caused by tax havens.
This book is a must read, and it should be mandatory for all politicians, students and voters.
1 of 1 people found this review helpful
To pay taxes, or not to pay taxes, that is the question ... To which the corporate, international financial and global criminal fraternity have answered with a resounding No. This is a wonderfully dark tale of money eating itself and spewing out more, on which it then feeds and grows, warping the laws and norms of civil society to their own needs to the point that all we can do is willingly, though blindly, throw ourselves into it to feed its relentless greed. A fascinating, inspiring and depressing book - brilliantly narrated, though poorly produced - that has left me angry and thoroughly intrigued. Read it. Then read it again.
2 of 2 people found this review helpful
A real eye opener...excellent....for anyone who wants to know more about Tax Havens...very good reader with creative linguistic style...