tailieunhanh - Big Bank Tax Drain - How Wall Street Speculation and Tax Avoidance are Starving Public Revenues

The increase in branch offices is more likely to be a consequence of the lifting of regional restrictions than of privatization. All large banking groups have shown a tendency to ex- pand nationally, and even smaller banks have expanded into new geographical areas. This development was not limited to privatized banks, but included other banks, although the expansion of the latter lagged behind that of the privatized banks (Deutsche Bank 2004b: 16). In 2000, more than half of the banking groups’ branch offices belonged to banks that are present in more than 50 of the 103 provinces, and this share has increased in recent years (Banca d’Italia,. | Big Bank Tax Drain How Wall Street Speculation and Tax Avoidance are Starving Public Revenues A Public Accountability Initiative report prepared for National People s Action by Matthew Skomarovsky and Kevin Connor March 2011 NATIONAL PEOPLE S ACTION I o bility Big Bank Tax Drain How Big Bank Speculation and Tax Avoidance are Starving Public Revenues and Sticking American Taxpayers with the Bill A Public Accountability Initiative report prepared for National People s Action by Matthew Skomarovsky and Kevin Connor March 2011 National People s Action NPA is a network of community power organizations from across the country that work to advance a national economic and racial justice agenda. NPA has over 200 organizers working to unite everyday people in cities towns and rural communities throughout the United States. For 38 years NPA has been a leader in the fight to hold banks accountable to the communities in which they serve and profit. Public Accountability Initiative PAI is a non-profit non-partisan watchdog organization focused on corporate and government accountability. PAI s mission is to facilitate and produce investigative research that supports citizen-led accountability efforts. PAI s hardhitting research reports on topics such as wasteful government subsidies corporate lobbying efforts conflicts of interest and Wall Street fraud have been cited by the New York Times the Wall Street Journal and numerous other media outlets.

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