Treasure Islands: reviews worth reading

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Nick Shaxson's new book, Treasure Islands, is already heading for being sold out on the first print run, reaching number 26 on the Amazon best seller list yesterday.

There are two reviews I recommend this morning. One is from Cayman, and is, perhaps, predictable. The review in the Scottish Herald is more interesting, and compelling in its analysis. I particularly recommend giving that one a look.

As they say:

[Gordon] Brown, we know, is an obsessive micro-manager, so he can’t plead ignorance [on tax havens]. He knew what was going on, helped devise the system, praised the City of London for its “financial innovation”. Until politicians like him understand their complicity, there can never be the ethical renaissance in global finance that he calls for.

As I expected, the issue that is perhaps most significant in the book is not the narrative on places like Cayman: much of that was at least partly in the public awareness. The shock is just how secretive the City is and how far from being under control it might be. That's the big issue Nick addresses. And that's where action is needed, urgently.


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