Well, Pedro Miguel Gonzalez Pinzón, the President of the Panama’s National Assembly, will no doubt clean up the money laundering and narco-trafficking. Maybe after he deals with his indictment for murdering American serviceman Zak Hernández.
Panama has been a key target of the Organization for Economic Cooperation and Development for resisting international norms in combating tax evasion and money laundering. ... we've learned that AIG, arrogance, incompetence, greed, has sued the U.S. Government demanding more than $306 million in taxes it paid, twice the amount of what it paid in the now infamous executive bonuses.Here is what AIG is claiming. AIG is claiming it overpaid taxes related to the activities of its AIG-linked Panamanian corporation, Star International Company, which is chartered in the tax haven of Panama. And if President Bush's Panama Free Trade Agreement is ratified, AIG's largest shareholder, which is this derivative in Panama and other offshore companies, would have expansive new rights to challenge U.S. tax laws. In fact, there are currently 350,000 foreign firms that are registered in Panama where there are zero to low regulations and taxing restrictions. So we know that, if this treaty is ratified, these policies will inhibit the ability to protect the American people, crack down on money laundering and tax cheating and shady financial deals.