Brian Galle: Obfuscate Foreign $
on Wednesday, April 10, 2024Meaning of Brian Galle Money Quote: saying Investment banks are aware that they play a role in essentially hiding foreign assets. Brian Galle said:
“Investment banks and other financial institutions are aware that they are essential players in the game of obfuscating foreign assets, This is what the product is: investment services plus secrecy” — Brian Galle
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Brian Galle is saying that investment banks and other financial institutions understand that they play a key role in hiding or obscuring foreign assets from view. According to Galle, these institutions offer investment services, but part of what they are selling to their clients is also secrecy and opacity regarding those foreign assets.
In other words, the ability to shield information and ownership details from tax authorities and regulators is a significant part of the “product” or value proposition that these institutions provide to their wealthy clients.