Ever heard of 'The International Consortium of Investigative Journalists'? Using information that must have come from something akin to the 'Anonymous' hackers (or maybe the NSA) they have begun to reveal the rampant tax evasion of the wealthy.
The first articles based on a cache of 2.5 million files were published Thursday (today), laying bare the secrets of more than 120,000 offshore entities, including your basic shell corporations and legal structures known as trusts, that have been used to hide the finances of politicians (Mitt Romney?), crooks, drug smugglers, dictators and others from more than 170 nations.
Economists studying international banking reports have estimated the money involved in 'tax haven' banking at between 20 and 30 trillion dollars. This could be a low estimate according to the information coming out today.
At least eleven Americans are already facing jail time for activities linked to this sort of shadow banking. It appears to be the tip of the iceberg, (as if you were surprised), but the demons of the night are being dragged out into the light of day, and they don't like that burning sensation.
@BruceEnberg on Twitter.com
