Tuesday, Nov 24th

Last update06:53:33 AM 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...

Laquan McDonald Video Shows Police Shooting Him 16 Times (GRAPHIC VIDEO)

Laquan McDonald VideoThe much-anticipated police dashboard cam video of a Chicago Police officer shooting and killing a 17-year-old...

Ford recalls 450,000 vehicles for possible fuel tank issue

Ford recallsThe Ford Motor Company issued a recall notice for about 450,000 2010 and 2011 Ford Fusion...

Chicago cop charged with murder in shooting death of black teen

Chicago cop chargedA white Chicago police officer was charged on Tuesday with first-degree murder in connection with the...

Five shot near site of Jamar Clark protest

Jamar ClarkThe family of a black man who was fatally shot by a Minneapolis police officer has...
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!