Conspiracy Theories - Corruption in the Financial Industry

The Cayman Islands are the fifth largest banking center in the world with 1.5 trillion in banking liabilities.

President Barack Obama of the United States of America declared his intentions to curb the use of financial centers by multinational corporations. In his speech he singled out the Cayman Islands as a tax shelter. The next day, the Cayman Islands Financial Services Association submitted an open letter to the President detailing the Cayman Islands’ role in international finance and its value to the US financial system.

Terrorists and Drug Traffickers still can go through “legitimate” banks in Liechtenstein, the Sudan, the Cayman Islands, or another offshore haven.

In it’s defense, I say that the Financial Sector of the Cayman Islands is not corrupt because this evidence is not at all sufficient. Just because it is a tax haven doesn’t mean there is corruption in the office buildings. I believe that all the work these people do everyday is legitimate.

Just let the tide wash away all these problems….