From the Federal Election Commission’s suggestion that it might finally begin scrutinizing donations to super PACs from mystery limited liability corporations (LLCs) to the revelations in the Panama Papers, LLCs are very in right now.
The leak of the Panama Papers reportedly shows the use of offshore shell companies to hide cash by many high-profile foreign figures, from highly-paid soccer star Lionel Messi to the prime minister of Iceland, but the lack of Americans implicated in the investigations has raised eyebrows in the international community.
We’d all like to believe that it’s because most Americans are law-abiding folks, but there might be another answer: Americans don’t need offshore companies in tiny island nations to hide their money. America has Delaware. Continue...