WikiLeaks published the United States diplomatic cables and brought everything out in the open. This scandal is famously called as Cablegate. After Cablegate occurred, many irreversible changes came about, whether the American Government liked it or not.
How did Cablegate affect the American Government?
After Cablegate, many top secrets, war documents, videos and diplomatic discussions involving other nations were out for everyone to see. This impacted the Government greatly. The corruption and misconduct of many within the United States came out. And politicians were left with no option but to practice transparency and honest politics.
This of course had a downside as well, since many secret comments, discussions and opinions about American embassies in many countries were unearthed. This rendered the entire United States vulnerable towards terror attacks from countries known for such acts of violence.
It also caused a great uproar in the American economy. And the media and journalism reached an all new high.
With chances of anything and everything coming under the scanner of Cablegate, the Government had to watch out for diplomatic relations with other countries, as well as maintain diplomacy within America.
There was always a threat of too much information reaching wrong hands, and potential misuse of information.
Downsizing the number of people involved may have been undertaken to minimize the risk of further leakage of important cables. Minimizing involved people may come handy in safeguarding the privacy and security of the country.
Did Wikileaks affect big businesses?
With Cablegate and WikiLeaks, very little remained unknown to the general public. As strongly these publications affected the American government, they also had a great impact on the big businesses.
Big Businesses involved wealthy people and big banks who went hand in hand. These big businesses did everything it took to save their income from coming under the tax scanner, and so saved on paying tax on the huge profits they made on these funds. This created big interest of the HBSwiss trading.
How did WikiLeaks expose the big business tax saving manipulation?
After Cablegate shook the United States of America, even the big businesses were not spared. These big businesses had huge amounts of money tucked and saved in Swiss bank accounts. These Swiss banks have some unique money management services.
So the big businesses save huge amounts in Cayman Islands shielded under trusts based there. These amounts, inevitably are sparred on the tax payments and other jurisdiction.
And the huge profits earned by these investments are then distributed among the beneficiaries of the concerned trust. In this way, the wealthy not just earned huge profits on the fund, they also evaded paying tax on them.
WikiLeaks, the released a cache of documents that included many internal correspondence details of some major Swiss Banks.
The Cablegate not just brought the big businesses and their tax evading activities out in the open. They also exposed the ‘unique money management services’ of these big banks as well.
What may be the final outcome of these publications?
While how long WikiLeaks and Cablegate will last is not known, but there definitely will be some substitute to take over from them. The aim is ensure maximum transparency and honest practices within the nation and even with other nations.
This may eventually demolish the nature of big businesses and big banks giving rise to a more open and honest culture.