#PanamaPapers: the world's A-listers may not survive the data leak, but humour certainly has
SAHIL BHALLA@imsahilbhallaCATCH NEWS
For once, the "biggest leak in history", as the Panama Papers are being called, is not hyperbole. An international team of journalists have gotten hold of 2.6-terabytes of data about offshore savings and tax havens. The 11.5 million documents from Panama-based legal firm Mossack Fonseca were leaked by an anonymous source to German newspaper Suddeutsche Zeitung. They were then passed on to the International Consortium of Investigative Journalists (ICJ).
From there, things started to scale up to epic levels: 370 reporters from 100 different media organisations around the world have since worked on this project, for over a year now. And on Monday, April 4, the lid was blown off. Newspapers and media organisations around the world hit publish, and this is believed to be only the beginning.
Naturally, almost immediately, #PanamaPapers hit the top of Twitter trends and stayed there quite a while - because this leak is bigger than the 2010 diplomatic cables leak by WikiLeaks and even the stash of NSA documents leaked by Edward Snowden three years ago.
Here's Matthew Yglesias simplifying the company's operations for Vox:
"The firm's operations are diverse and international in scope, but they originate in a single specialty - helping foreigners set up Panamanian shell companies to hold financial assets while obscuring the identities of their real owners. Since its founding in 1977, it's expanded its interests outside of Panama to include over 40 offices worldwide, helping a global client base to work with shell companies not just in Panama but also the Bahamas, the British Virgin Islands, and other notorious tax havens around the world."
Ashish Shakya sums it up best:
RICH PEOPLE WILL DO ANYTHING TO STAY RICH#panamapapers
Global Capitalism!" says Arun Nambiar, never to be accused of understatement when over will do:
There is only one moral of the #PanamaPapers story. Get rid of Global Capitalism!
The Indian end of the investigation was run by the Indian Express, with 25 investigative journalists involved. Their list includes about 500 Indians, of which the best-known are actor Amitabh Bachchan and his daughter-in-law Aishwarya Rai Bachchan.
But just because an international crisis of epic proportions is under way, should things get all gloomy and anxious? Not while Twitter's around! Here's the best of the snark on the subject:
'Big B, Aishwarya in the list of Panama papers leak', Abhishek Bachchan must be proud of being the 'least known celebrity' in the house
Russia: Putin
China: Li Peng
Saudi Arabia: King Salman
Pakistan: Nawaz Sharif
India: Ex-local leader of party w/ zero MPs/MLAs #PanamaPapers
China: Li Peng
Saudi Arabia: King Salman
Pakistan: Nawaz Sharif
India: Ex-local leader of party w/ zero MPs/MLAs #PanamaPapers
Manager of Offshore firm Consoling A Rai as she burst into tear after her name was mentioned in #panamapapers.(2016)
No, they haven't been hiding their money. They've been hiding ours. By calling it theirs. #panamapapers
#PanamaPapers
Terrified that my name and bank account will be on a soon-to-be-released list called Sahakar Nagar Papers.
Terrified that my name and bank account will be on a soon-to-be-released list called Sahakar Nagar Papers.
India shouldn't feel bad about poor performance so far in#panamapapers cup. Top players too busy on domestic circuit to play overseas.
My takeaway from reading about the #panamapapers
Waiting to see which English movie TV channel will program 'The Tailor of Panama' on a prime slot first.
#panamapapers : People have millions of dollars in their offshore accounts & I'm just happy receiving Rs. 10 cashback on my mobile recharge.
Another list I am not part of. My family is *this* close to disowning me. #PanamaPapers
I don't even have enough money in my domestic account. Offshore account, toh door ki baat #panamapapers
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