Brittain-Catlin, William 1966–

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Brittain-Catlin, William 1966–

PERSONAL: Born 1966.

ADDRESSES: Home—London, England. Agent—c/o Author Mail, Farrar, Straus & Giroux, 19 Union Square W., New York, NY 10003.

CAREER: Writer. British Broadcasting Corporation, London, England, producer; Kroll Associates, corporate investigator.

WRITINGS:

Offshore: The Dark Side of the Global Economy, Farrar, Straus & Giroux (New York, NY), 2005.

SIDELIGHTS: Corporate investigator William Brittain-Catlin sheds light on the secret world of international investing in Offshore: The Dark Side of the Global Economy. While it is no secret that many U.S. corporations have long been setting up separate entities in places such as the Cayman Islands to avoid taxation and government involvement in corporate financial affairs, in Offshore, Brittain-Catlin explains just how they get away with it. The author reveals specific U.S. corporations that take advantage of the anonymity of offshore investment opportunities—specifically, those on the Cayman Islands—to evade their responsibilities within the American economy. He reveals to readers the true extent of the problem, pointing out that the Caymans hold more than 700 billion dollars in tax-free international corporate and personal wealth, making it the world's fifth-largest banking center. When U.S. corporations enjoy such vast tax-free earnings, they experience considerable financial success, putting pressure on competitors to engage in the same behaviors in order to survive.

Critical response to Offshore was mixed. While some critics considered Brittain-Catlin's ideas incomplete, most felt that the author's contributions to a global examination of offshore investing are interesting and significant. "The avalanche of material amassed by Brittain-Catlin overwhelms," wrote Washington Monthly reviewer T.A. Frank, admitting: "This is not easy stuff to weave together." In addition, Frank commented that "Brittain-Catlin has certainly chosen a fascinating and important topic, and Offshore contains a lot of remarkable stories of mischief, and, sometimes, even intrepidness." Likewise, a Publishers Weekly reviewer stated that the book is an "ambitious meditation on the soul of capitalism."