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Intern Sets Up Offshore Tax Haven In Panama (VIDEO)
Politics on HuffingtonPost.com — It's so easy for U.S. corporations to set up an offshore tax haven in Panama, an intern could do it. Really! To make this point, Public Citizen's Global Trade Watch division had one of its interns call up some Panamanian law firms for advice on starting up a shell company. "Panamanian corporations basically pay no taxes on foreign-derived income," one man explained to the intern, Jessica. Another said: "You're protected by the strictest banking secrecy laws in the world," thereby "totally removing you from the legal trail." In a video on Public Citizen's website, Jessica is told that all she needs to do is provide a passport photocopy, a bank reference letter, ...

When An Intern Can Form a Shell Corporation, It's Time For Trade Reform
Open Left - Front Page — Bloomberg News this morning reports that U.S. Trade Representative Ron Kirk gave a speech yesterday to the U.S. Chamber of Commerce "saying he hopes Congress will approve stalled trade agreements with Panama, Colombia and South Korea within the next year." The good news is that Kirk also  noted that Bush-written trade policies are "really a tough sell in this environment." ...