In case you’ve missed it, the Cayman Islands have been in the news lately, and not just because it’s swimsuit season. Much of it has to do with a certain presidential candidate’s personal finances, and this, in turn, has provoked some journalistic spade work into the schematics of the “offshore economy.” In fact, just as American factories and jobs have increasingly emigrated to other countries, so have the piggy banks where some of our super-rich and/or presidential candidates place their money. Adam Davidson, of NPR’s Planet Money fame, ran a suitably scary piece in last Sunday’s New York Times Magazine in which he sketched how easy it is for just about anyone with a telephone and photo ID to set up an offshore account.
It’s a great read that begins with Davidson Googling the names of a few firms that are well versed in parking your earnings in tax-free,
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