A number of the financial magazines have pointed out how odd the current trend of executives pleading ignorance is — these are people who are paid an utter fortune to provide expert services. To suggest an “I didn't know” or “I was incompetent, it was an 'honest' mistake” excuse, simply doesn't work in this case. Anyway, I thought this related story was OK. Here's a summary:
Bush: “We need to stop US companies from evading taxes by setting up offshore subsidiaries! It hurts the war effort, and, more importantly, it's fundamentally evil. When you support companies that shelter their taxes offshore, you support terrorists.”Reporters: “But Mr. Bush, didn't you start a subsidiary in the Caymen Islands when you were on the board of Harken Oil? Weren't you trying to funnel a $25 million contract to drill for Arab oil through this shelter?”
Bush: “Well, yes, but we didn't actually manage to evade taxes because we weren't a profitable company!”
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