Business Professor: Panama Papers Show Effects of Moral Conflict of Interest for World's Political-Economic Elite
April 12, 2016
Contact: University Relations
Phone: 410.837.5739
In a recent appearance on the Marc Steiner Show, Steven Isberg, associate professor of finance in the Merrick School of Business, offered comments on the disclosure of immoral if not illegal investment activity on the part of many high profile world leaders. Using shell companies and offshore tax havens, many of these leaders are hiding billions of dollars from both taxation and public scrutiny.
When asked why there were no Americans on the initial list of names revealed by the Panama Papers, he cited research by the New York Times that documents the existence of a completely separate tax code for the economic elite in this nation. Many U.S. citizens are involved in transactions similar to those exposed by the Panama Papers, but they are perfectly legal under the U.S. system as long as they are properly disclosed.
Listen to the Marc Steiner Show podcast.
Learn more about Prof. Isberg.