The Daily Populous

Monday February 21st, 2022 night edition

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A massive leak from one of the world’s biggest private banks, Credit Suisse, has exposed the hidden wealth of clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.

Suisse secrets is a global journalistic investigation into a leak of data from the Swiss bank Credit Suisse.

The data, which is only a partial capture of the bank’s 1.5 million private banking clients, is linked to more than 30,000 Credit Suisse clients.

Credit Suisse said that Switzerland’s strict banking secrecy laws prevented it from commenting on claims relating to individual clients.

The timing of the leak could hardly be worse for Credit Suisse, which has recently been beset by major scandals.

Swiss financial institutions manage about 7.9tn CHF (£6.3tn) in assets, nearly half of which belongs to foreign clients.

However, a decade later Li was nonetheless able to open an account that later held 59m CHF (£26.3m), according to the leak. »

Rents reach ‘insane’ levels across US with no end in sight

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Rents reach ‘insane’ levels across US with no end in sight.

Krystal Guerra’s Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space.

Rising rents are an increasing driver of high inflation that has become one of the nation’s top economic problems. »

California lawmakers introduce bill to tax 'extreme wealth,' proposing new 1.5% tax on state's billionaires

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The longshot bill would hit households worth $50 million+, with a higher rate for billionaires.

A group of Democratic lawmakers in California proposed a new tax which they say could extract billions of dollars from the state's wealthiest people.

If it passes, the bill would come into effect in 2023 for billionaires and in 2025 for those with net worths of more than $50 million. »