Panama Papers: biggest leak in history published by German newspaper

[jayboy]

May be Peston is your go-to-guy, but its not for everyone - I guess it is easy to find a commentator to suit your agenda.

Richard Murphy..

http://www.taxresearch.org.uk/Blog/2016/04/07/fisking-robert-peston-on-tax-avoidance/

What you fail to understand is that tax avoidance is morally repugnant to most people..

You have this group of people making use of social benefits (Roads, Schools, Hospitals, etc) that depend on the use of the labour of wealth creating workers. who were educated by the state, cared for by state hospitals, and often subsidised by the state. These people are exploited companies and organisations that then refuse to contribute to the state. Its morally unjustifiably, what ever the semantics of "avoidance" or "evasion" you want to chose.

The organisations depend on the banking systems we bailed out - on the research and development that we fund - and the law and order system we pay for, but are too greedy to contribute towards it!

Then the poorest, and those that depend on socially provided services that are made to suffer as there are not enough funds left to pay for it!

Legal or illegal it's scrounging off of everyone else in society!

They are the true state scroungers

Peston's position is left leaning.My point was most people accept his integrity.In any case you seem not to have taken in the piece I provided from him.It addressed many of your concerns. I accept there is much to be concerned about but I cannot agree your careless dismissal of what is legal and what is not legal as mere semantics.

[MrTee]

May be Peston is your go-to-guy, but its not for everyone - I guess it is easy to find a commentator to suit your agenda.

Richard Murphy..

http://www.taxresearch.org.uk/Blog/2016/04/07/fisking-robert-peston-on-tax-avoidance/

What you fail to understand is that tax avoidance is morally repugnant to most people..

You have this group of people making use of social benefits (Roads, Schools, Hospitals, etc) that depend on the use of the labour of wealth creating workers. who were educated by the state, cared for by state hospitals, and often subsidised by the state. These people are exploited companies and organisations that then refuse to contribute to the state. Its morally unjustifiably, what ever the semantics of "avoidance" or "evasion" you want to chose.

The organisations depend on the banking systems we bailed out - on the research and development that we fund - and the law and order system we pay for, but are too greedy to contribute towards it!

Then the poorest, and those that depend on socially provided services that are made to suffer as there are not enough funds left to pay for it!

Legal or illegal it's scrounging off of everyone else in society!

They are the true state scroungers

Peston's position is left leaning.My point was most people accept his integrity.In any case you seem not to have taken in the piece I provided from him.It addressed many of your concerns. I accept there is much to be concerned about but I cannot agree your careless dismissal of what is legal and what is not legal as mere semantics.

I know who Peston is, thank you! If you'd taken the time to read what I said you will have realised that I never said I disagree, or agree, with his opinion. He is a journalist with a very good reputation but he is not the final word and others may, and do, have opinions that differ to his. I offered you an opportunity to read an alternative view point. Written by the professor of practice in international political economy at City University, who is perhaps better placed to comment on tax and tax evasion matters.

Jay Boy, you seem to completely ignore the fact that, legal or illegal, avoidance or evasion, when you have organisations that relies on the state for their own benefit and then they refuse to pay their fare share of tax it is morally repugnant. It's not just about the panfaced Cameron and The high Prince of Dyscalculia Osborne, though it does put them in a very awkward position. Given their previous rhetoric about the very same subject, when they are BOTH shown to be involved in tax avoidance, it does make them look hypocritical. And, clearly, when an organisation such as Osborne & Light, haven't paid tax in 8 or 9 years they are guilty of neglecting their moral obligation to put back into the society that they benefit from.. This is not a victimless crime! People suffer not in just in the UK, but across the world!

I can see there may be legitimate reasons to create off-shores, but why the need to do it such dodgy, and clearly bent, environment such as those provided by places like Panama?

It's nothing to do with left or right, high class or low middle class or hating the rich, or toffs innit, or any other box you want to put it in.

It's scrounging off of society!

Hardly any different to those that want to lay around all day smoking spliff and playing on their X-boxes, and then expecting their rents to be paid and their bellies full.

The only difference is the scale it is done on!

ETA: I am enjoying your input - thank you!

Edited April 7, 2016 by MrTee

[jayboy]

If Richard Murphy is the same genius who came up with Peoples Quantitative Easing you should be aware that he has

now been ditched by the Corbyn team as being too wacky even by the standards of their own extreme wackiness.He seems to be just another Dave Spart albeit with a brain. I suspect most reasonable people prefer Peston as a guide.

You deny class resentment but this isnt really borne out by your Bash Street Gang references to Cam and Osborne.

Edited April 7, 2016 by jayboy

[lkv]

"David Cameron admits he profited from father's offshore fund"

http://www.theguardian.com/news/2016/apr/07/david-cameron-admits-he-profited-fathers-offshore-fund-panama-papers

[mopar71]

Panama Papers Reveal Clinton’s Kremlin Connection

Almost lost among the many revelations is the fact that Russia’s biggest bank uses The Podesta Group as its lobbyist in Washington, D.C.. Mr. Podesta is the very definition of a Democratic insider.

...As reported at the end of March, the Podesta Group registered with the U.S. Government as a lobbyist for Sberbank, as required by law, naming three Podesta Group staffers: Tony Podesta plus Stephen Rademaker and David Adams, the last two former assistant secretaries of state. It should be noted that Tony Podesta is a big-money bundler for the Hillary Clinton presidential campaign while his brother John is the chairman of that campaign, the chief architect of her plans to take the White House this November.

http://observer.com/2016/04/panama-papers-reveal-clintons-kremlin-connection/

[MrTee]

" You deny class resentment but this isnt really borne out by your Bash Street Gang references to Cam and Osborne."

That is nothing to do with their perceived social standing - Its to do with their political ideology, and the fact that Osborne is the worst chancellor in history!

[Pakboong]

These types of stories are a gift of God for the press to sell their papers to a populace eager to spit their venom at the rich.

It will end up in a flop.

Most of the offshore accounts and financial services are totally legal.

Remember Luxleaks... Nobody speaks about it anymore.

Legal perhaps, especially if tax law is riddled with loopholes, or back doors, however I would question the morality of not making a fair contribution to a society from which these individuals profit.

please define "fair contribution" and state a reason why you think that "these individuals" did not contribute to their relevant societies.

Mr. Naam, you're clearly a knowledgeable financial guy, well respected on this forum. Which is why I'm at a loss to understand why you're defending these crooks. Obviously, the authorities are not going to go after everyone who has an off-shore account. But there are quite a few folks who have off-shore accounts for nefarious reasons. If it was legit, there wouldn't be a need to "conceal" it. That's pretty much the thrust of the OP. It's not only taxes that they're avoiding, but it would seem that a good number are politicians who have siphoned large amounts of money from their nations' coffers. Trillions. I hope they nail these crooks, but I doubt many of these countries have the stomach to do it. Putin will just deny it all. Ditto Saudi Arabia and Nigeria. But maybe the Chinese will make a go of it. Anyways, I look forward to seeing all the names that are revealed. It will be long and distinguished.

I am pretty confident that the intent was never to expose all crooks, but ,selected crooks. It is really not that difficult to figure out who and why.

[Naam]

I am pretty confident that the intent was never to expose all crooks, but ,selected crooks. It is really not that difficult to figure out who and why.

BINGO!

[craigt3365]

I am pretty confident that the intent was never to expose all crooks, but ,selected crooks. It is really not that difficult to figure out who and why.

Who would have thought the Iceland PM would have been the target. Go figure. But congrats to him for doing the right thing. Many others should take his lead. The world might be a better place. Ya never know.

[Naam]

I am pretty confident that the intent was never to expose all crooks, but ,selected crooks. It is really not that difficult to figure out who and why.

Who would have thought the Iceland PM would have been the target. Go figure. But congrats to him for doing the right thing. Many others should take his lead. The world might be a better place. Ya never know.

he was only collateral damage. the actual targets are located east of Iceland

and as far as doing the "right thing"... he had no chance doing the "wrong thing" which he clearly intended to do according to his first reaction.

[craigt3365]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

[jpinx]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

Absolutely irrelevant indeed -- the release was done by journalists and there was no discernible "target list". The fact that Iceland reacted is what highlighted that case, but there are many more much bigger fish listed and not reaction from the people of those countries. China is desperately trying to suppress the list from their general public for fear of a revolution - oh the Irony

[Naam]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

[jayboy]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I agree.The amount of ignorance being spouted on this subject on this forum is staggering, in the case of many compounded by class hatred and envy.

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

[Naam]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I agree.The amount of ignorance being spouted on this subject on this forum is staggering, in the case of many compounded by class hatred and envy.

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

i don't blame people for their assumptions or judgments which are based on the news they read. i also bloody well understand that a certain bias exists based on envy.

i blame the media which has a duty to present news after a minimum of appropriate research instead of just copying and pasting what was published by other sources.

[Naam]

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

[jpinx]

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

It's a funny enough piece of writing, but it begs the question of Cameron and other's moral fibre. Given Cameron's public statements over the years, that blog missed the greatest crime of all -- allowing people to see his hypocrisy

[chilli42]

And of the 850 Thais on that list all have denied any wrongdoing. It is quite simply in the nature of most Thais to deny, refuse to take responsibility for their actions, lie, and attempt to convince people that they are indeed law abiding and respectful, if and when they are not so.

And the more news that comes out about Putrid Putin the better. He might be the most corrupt politician on the planet. This leak is beautiful.

I am sure we will see more on Putin and his merry band of of mischief makers ... one can easily argue that no additional granularity was ever required to label them crooked. That said, we will only ever see what the International Consortium of Invetigative Journalists (funded by George Sorros, the Rockefella family etc), who will control release of the documents, wants us to see. Expect to see the normal cast of troublemakers and despots that we are meant to see in the headlines with a few low risk western knuckleheads tossed in for legitimacy (eg the PM of Iceland). No inside story here. We are all being controlled as usual.

[Scotwight]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I agree.The amount of ignorance being spouted on this subject on this forum is staggering, in the case of many compounded by class hatred and envy.

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

Maybe I am wrong but I think in China they can take you out hold your arms and shoot you in the back of the head and harvest your organs if you transfer more than $50,000 per year out of China.

[chilli42]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I agree.The amount of ignorance being spouted on this subject on this forum is staggering, in the case of many compounded by class hatred and envy.

http://blogs.spectator.co.uk/2016/04/david-cameron-is-guilty-of-bad-spin-and-nothing-more/

You are correct to say that many on this forum have no idea what they are talking about, most I would say, including myself. I do think people are smart enough to know, in a world of digital information, that they are being screwed over by the wealthy, corporations and government. Even if they don't know the full extent of how this triumvirate is shafting a society that is having the life sucked out of it. I suspect the greed and injustice of this this makes them a bit upset, perhaps even angry. So it comes as no surprise that they are happy to stand by and enjoy the downfall of anyone remotely involved in this triumvirate. Don't be too judgemental, let everyone enjoy the spectacle without too much harsh judgement. We are only ever going to see what we are allowed to see. That for sure is a whole lot less than is really going on.

[Naam]

And of the 850 Thais on that list all have denied any wrongdoing. It is quite simply in the nature of most Thais to deny, refuse to take responsibility for their actions, lie, and attempt to convince people that they are indeed law abiding and respectful, if and when they are not so.

And the more news that comes out about Putrid Putin the better. He might be the most corrupt politician on the planet. This leak is beautiful.

yes Sir! this beautiful leak and its future revelations of Putrid Putin's crimes will be a blessing for all retired expats in Thailand. our dogs will stop salivating, our wives will demand more sex, Thai Baht will considerably depreciate vs. [insert preferred currency], prices for fuel, electricity, som tam and beer will fall to more affordable levels and 90 day reporting will be a thing of the past.

[craigt3365]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I think this whole episode is relevant. If it make countries like the UK, US, etc, tighten up laws against money laundering, then this event was a great thing. For sure some involved are perfectly innocent. For sure some involved are not. Exposure of this ability for corrupt officials in various countries to hide their ill gotten gains is a good thing. As the poor suffer due to this.

Can't comment about Cameron. Though his part in this is quite small. And probably blown out of proportion. IHMO

[Naam]

Understood, but not so sure the targets were even thought of before release of the data. Perhaps. We know what will happen to them with this data to them. Nothing. So kinda irrelevant?????

of course nothing will happen to the real targets, assuming targets existed. but the whole scandal is relevant, especially for those who are frothing around their mouths but will gain nothing out of it.

the latter does not apply to journalists who are benefitting because they are paid for the number of words they write and who come up with hair raising assumptions and theories drawn out of thin air but not able to comprehend what exactly was going on.

yesterday i watched a talkshow on German TV. "lead speaker" was Georg Mascolo the project leader of Süddeutsche Zeitung's "investigative" team. the bullshit he presented was appalling as well as embarassing.

I think this whole episode is relevant. If it make countries like the UK, US, etc, tighten up laws against money laundering, then this event was a great thing. For sure some involved are perfectly innocent. For sure some involved are not. Exposure of this ability for corrupt officials in various countries to hide their ill gotten gains is a good thing. As the poor suffer due to this.

Can't comment about Cameron. Though his part in this is quite small. And probably blown out of proportion. IHMO

in what way will it help if only a few countries are tightening the laws Craig? the laws, even draconic ones, exist already in many countries. but the shots are harmless blanks as long as not all banking tax havens participate in the planned information exchange. because there's the beef, offshore corporations are totally irrelevant in this respect. you can't hide money in a corporation, you need a financial institution!

changing tax loopholes which prevent Apple, Google, Volkswagen (to name a few) to add billions of profits is possible... assuming that powerful lobbies can be defeated.

interesting aspect! several months ago i talked to some SG bankers in a relaxed atmosphere and asked about the once in a while nowadays applied criteria "show us your last three tax returns and we wil open an account and accept your 5 million".

the answer was "applied only in very rare cases. but if you add a zero to the 5 our compliance department will ask only the usual standard stupid questions".

[craigt3365]

Understood. But more countries are talking about tightening up on this. Of course countries like Nigeria and Somalia might never participate. But if enough do, via pressure, it could help.

The lobbies are a huge problem. As are complicated tax law/loopholes. But we've made a lot of progress over the years. Hopefully, more will be made in the future. And yes, people will always find ways around this....but something needs to be done.

[Naam]

Understood. But more countries are talking about tightening up on this. Of course countries like Nigeria and Somalia might never participate. But if enough do, via pressure, it could help.

The lobbies are a huge problem. As are complicated tax law/loopholes. But we've made a lot of progress over the years. Hopefully, more will be made in the future. And yes, people will always find ways around this....but something needs to be done.

would anybody bank in Nigeria or Somalia?

they have to get the major banking ducks in a row located in the Channel Islands, Hong Kong, Singapore, Brunei, Macao, Gibraltar, Bahrain and Emirates and of course close the well known tax loopholes.

[Pakboong]

Understood. But more countries are talking about tightening up on this. Of course countries like Nigeria and Somalia might never participate. But if enough do, via pressure, it could help.

The lobbies are a huge problem. As are complicated tax law/loopholes. But we've made a lot of progress over the years. Hopefully, more will be made in the future. And yes, people will always find ways around this....but something needs to be done.

would anybody bank in Nigeria or Somalia?

they have to get the major banking ducks in a row located in the Channel Islands, Hong Kong, Singapore, Brunei, Macao, Gibraltar, Bahrain and Emirates and of course close the well known tax loopholes.

We are fortunate enough in my country to have state sponsored tax havens in Delaware, Nevada and I believe Wyoming. No real need to go off shore. This is a matter that is between elected officials and their constituents but enough of us have made the rush to judgement to make that Bad/Bad connection, this kind of publicity still has the desired effect.

[craigt3365]

Understood. But more countries are talking about tightening up on this. Of course countries like Nigeria and Somalia might never participate. But if enough do, via pressure, it could help.

The lobbies are a huge problem. As are complicated tax law/loopholes. But we've made a lot of progress over the years. Hopefully, more will be made in the future. And yes, people will always find ways around this....but something needs to be done.

would anybody bank in Nigeria or Somalia?

they have to get the major banking ducks in a row located in the Channel Islands, Hong Kong, Singapore, Brunei, Macao, Gibraltar, Bahrain and Emirates and of course close the well known tax loopholes.

We are fortunate enough in my country to have state sponsored tax havens in Delaware, Nevada and I believe Wyoming. No real need to go off shore. This is a matter that is between elected officials and their constituents but enough of us have made the rush to judgement to make that Bad/Bad connection, this kind of publicity still has the desired effect.

I was just joking about Nigeria and Somalia. But 40 years ago, who would have guessed Bahrain or Emirates would be financial centers! LOL

Not so sure Nevada is a tax haven. I've got a Nevada corporation. Still have to pay taxes, etc. Though cheaper than incorporating in, say, California. There are some benefits to corps in these states, but your financial details are still visible and available to the tax man if needed. No so in Panama...as we just found out!

[Pakboong]

The New York Times reports that nearly half of all public corporations in the US are incorporated in Delaware. In fact it has more corporate companies than people living in the state – 945,326 to 897,934. According to Anthony Travers, chairman of the Cayman Islands Stock Exchange, the level of secrecy in Delaware is astounding.

“The states of Delaware, Nevada, Wyoming and South Dakota are the new Switzerlands of this world. They are tax havens that guarantee people banking secrecy which surpasses that of Switzerland and Luxembourg,”

According to Shruti Shah, the vice-president of programs and operations at Transparency International, an anti-corruption organization, the reason so many people are opting to leave their money in the US is due to the ease of opening an account.

Delaware may be one of the smallest US states; however, it is leading the way in registering some of the country’s top companies, such as Coca-Cola, Google, Wal-Mart and American Airlines.

Edited April 9, 2016 by Pakboong

[craigt3365]

The New York Times reports that nearly half of all public corporations in the US are incorporated in Delaware. In fact it has more corporate companies than people living in the state – 945,326 to 897,934. According to Anthony Travers, chairman of the Cayman Islands Stock Exchange, the level of secrecy in Delaware is astounding.

“The states of Delaware, Nevada, Wyoming and South Dakota are the new Switzerlands of this world. They are tax havens that guarantee people banking secrecy which surpasses that of Switzerland and Luxembourg,”

According to Shruti Shah, the vice-president of programs and operations at Transparency International, an anti-corruption organization, the reason so many people are opting to leave their money in the US is due to the ease of opening an account.

Delaware may be one of the smallest US states; however, it is leading the way in registering some of the country’s top companies, such as Coca-Cola, Google, Wal-Mart and American Airlines.

Most corporations in Delaware or Nevada are perfectly legal. A biggie for Nevada is no state taxes. A biggie for Delaware is favorable corporate laws that offer protection. A vast majority are legal. And for US citizens, there is no banking "secrecy". For foreigners, there can be.

I could open a corporation in any state/country and not pay taxes. Done all the time. In the US, as a US citizen, it's getting harder and harder to do this. Tax avoidance is not illegal. Tax evasion is.

Huge difference between these states and places like Panama and the BVI.

http://www.bizfilings.com/learn/incorporate-delaware-nevada.aspx

Nevada advantages

For many years, Delaware ruled the incorporation landscape. A few states—including Nevada—are trying to replicate Delaware’s success, hoping to attract business owners to their states. Some of the advantages often cited for forming a corporation or LLC in Nevada include:

• Nevada has no state corporate income tax and imposes no fees on corporate shares.
• There is neither personal income tax nor franchise tax for corporations or LLCs (but initial and annual statement fees and a business license fee apply).
• Shareholders, directors and officers of a corporation or members or managers of an LLC don’t need to be Nevada residents.

[Naam]

Understood. But more countries are talking about tightening up on this. Of course countries like Nigeria and Somalia might never participate. But if enough do, via pressure, it could help.

The lobbies are a huge problem. As are complicated tax law/loopholes. But we've made a lot of progress over the years. Hopefully, more will be made in the future. And yes, people will always find ways around this....but something needs to be done.

would anybody bank in Nigeria or Somalia?

they have to get the major banking ducks in a row located in the Channel Islands, Hong Kong, Singapore, Brunei, Macao, Gibraltar, Bahrain and Emirates and of course close the well known tax loopholes.

We are fortunate enough in my country to have state sponsored tax havens in Delaware, Nevada and I believe Wyoming. No real need to go off shore. This is a matter that is between elected officials and their constituents but enough of us have made the rush to judgement to make that Bad/Bad connection, this kind of publicity still has the desired effect.

wrong assumption mate! try to open a bank account anywhere in the U.S. with the beneficiary being the Delaware, Nevada or Wyoming corporation and you get either a smile and "nice try" or (if you are a Thai resident) a familiar "can NOT" as an answer.