America is the world's number 1 tax haven
Shell companies, banking secrecy and tax evasion are all associated with offshore territories that mostly double up as fancy tourist destinations. Yet Wall Street is where the real action is when it comes to hiding money, writes Politico's Peter Cotorceanu. The US requires foreign banks to disclose the offshore tax arrangements for Americans investing abroad, but "U.S. banks... are not doing the same kind of disclosure for their foreign clients." Cotorceanu's article is well worth a read and can be found here.