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The [Wednesday] Papers

By Steve Rhodes

This isn’t going to happen today. You can find some real-time commentary about the latest George Lucas museum developments at @BeachwoodReport.



Wall Street Stock Loans Drain $1 Billion A Year From German Taxpayers
“A cache of confidential documents obtained by ProPublica and analyzed in collaboration with the Washington Post, German broadcaster ARD and the Handelsblatt newspaper in Dusseldorf details how Wall Street puts together complex stock-lending deals that drain an estimated $1 billion a year from the German treasury.
“Similar deals extend beyond Germany, siphoning revenue from at least 20 other countries across four continents, according to the documents, which show how ‘dividend-arbitrage’ transactions – known in the trade as ‘div-arb’ – are structured and marketed as tax-avoidance vehicles.
“The trove of transaction logs, e-mails, marketing materials, chat messages and other communications among deal participants involves a who’s who of the world’s big banks and institutional investors.”

Five Things You Should Know About Leicester
With a special appearance by a former Beachwood bartender.

Treetop Adventures On The Way!
The course will be a seven-acre, two- to three-hour trek through the forest canopy using rope ladders, Tarzan swings, five zip lines, and more than 40 other challenging and fun obstacles situated more than 40 feet in the air.”

BeachBook
“On World Press Freedom Day, take a moment to remember all the members of the press who are not free, and have been imprisoned just for doing their job. As of December 1, 2015, 199 journalists were in jail worldwide, and 49 of those were imprisoned in China.”


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Posted on May 4, 2016