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SXSW 2021

Flawed Finance & What We Can Do About It

Despite the interconnectedness of today’s global economy, a vast disparity exists between the financial systems and opportunities that exist for the ultra wealthy and those that exist for the rest of us. The investigations of the International Consortium of Investigative Journalists – architects of the Panama Papers, Paradise Papers, and FinCEN Files projects, among others – have exposed the gaps, loopholes, and systemic flaws in financial systems around the globe that create one financial system for the elite – often at our expense. We’ll look at the consequences of these financial systems for countries, economies, and communities, and explore these opportunities to repair and rebuild a more equitable, transparent system.

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Takeaways

  1. The “offshore economy” may seem abstract, but it impacts the lives of everyday people and communities in ways that are not always obvious.
  2. The problem is not just flawed policy/loopholes. Banks themselves profit from suspicious transactions even as they flag them to authorities.
  3. There are ways to fix this broken system -- and consumers and taxpayers play a role by holding governments, banks, and their leaders accountable.

Speakers

Organizer

Bridget Gallagher, Consultant, Gallagher Group LLC

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