Tuesday, Oct 13th

Last update07:08:39 PM GMT

You are here News Domestic (USA) Jack Lew, Citigroup and the Ugland Truth

Jack Lew, Citigroup and the Ugland Truth

E-mail Print PDF

Jack LewAlong with its sandy beaches and quality snorkeling, the Cayman Islands’ reputation as an offshore tax haven for corporations, banks and hedge funds has become so well-known its financial institutions now are featured in travel brochures as yet another tourist attraction.

So as we traveled across the Caribbean this week — including a stretch paralleling the south coast of Cuba past Guantanamo Bay and the Sierra Maestra mountains, where Castro and his revolutionaries once hid out — we made a stop in George Town on Grand Cayman Island. A short walk along the shore took us to 335 South Church Street, a location made famous by Barack Obama a few years ago and more recently, Jack Lew, during his confirmation hearings to become Secretary of the Treasury.

There you’ll find Ugland House, a five-story office building that, according to a 2008 report from the U.S. Government Accountability Office (GAO), houses 18,857 corporations, about half of which have billing addresses back in the States. It’s the business world equivalent of one of those circus cars that’s packed with more clowns than you thought possible. In 2009, Obama said of Ugland House, “either this is the largest building in the world or the largest tax scam in the world.”

TVNL Comment:  Corporate lobbyists make the laws that benefit them, and the rest of us are fodder for their mill.  Wake up, America.


Most Recent Related Stories...

Terror Charges for Confederate Flaggers

Terroro charges for confederate flagA Douglas County grand jury has charged a Confederate flag group with making terroristic threats against...

Jerry Brown Signs Automatic Voter Registration In California

Jerry BrownCalifornia Gov. Jerry Brown (D) on Saturday signed a bill that will automatically register voters, which...

Indigenous Peoples Day support grows across US as states recognize holiday

Indigenous Peoples dayMore cities are recognising Native Americans on Columbus Day this year as they revive a movement...

US Muslim leaders brace for protests with potentially armed demonstrators

Muslim leaders brace for armed protestsMuslim leaders of mosques in some 20 cities in the US, including Phoenix and Oklahoma City,...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!