10th February 2013
The Washington Post reports that Jack Lew, President Obama’s nominee for Treasury Secretary, held money in an investment fund registered in the very Cayman Islands building that Obama called a notorious haven for tax abuse. The address of the fund is a building called the Ugland House. Obama singled out that building in a 2009 speech against tax haven abuse. With his characteristic subtely, the president declared, “Either this is the largest building in the world or the largest tax scam in the world.”
No surprises here. One law for the Crust, another for the enemies of the Crust; how very European. Totally consistent, when you think about it.