“…the papers lost the mantle of confidentiality when they were leaked to the public and Mossack failed to take legal action.”
While we agree that Mossack and Fonseca should have taken more actions in their defense than they have so far, the legal rationale of this article amazes us. Now it appears that the USA “Department of Justice” wants to pursue charges against the foreign lawyer, Jurgen Mossack, for his representation of the victims in the stolen “Panama Papers” debacle. They are purposely trying to take down attorney-client privilege, which would never be constitutional in the USA, to make an example of international laws that don’t always support the cause of the empirical US government.
The most embarrassing part of this aspect of the case is that Nevada corporate laws, privacy and secrecy are not much different than the Republic of Panama laws that the USA is criticizing. It makes complete sense that a firm specializing in legal offshore corporations and positioning would have a “sister firm” under the liberal laws and low taxation in the state of Nevada.
The federal government in the USA is trying to use the Panama Papers incident to attack and change the precedent of certain states like Nevada, Delaware and Wyoming who offer convenient, low tax and low regulation constitutions in order to attract investment and domicile international companies…just like Panama legally does. Now that the value and range of those investments have been illegally revealed through the stolen data…all neocon governments are now trying to obliterate these competitive and legal maneuverings by painting a false picture that “only criminals and rich people use offshore or low tax havens”.
As we have thoroughly pointed out in our book “The Truth about the Panama Papers”…in this age of globalism there is no going back to protectionism in legal trade…and that is exactly what these western nations like the USA are trying to do in attacking “offshore”. In the long run this will only play into the hands of their economic “enemies” such as Russia and China who will pick up whatever countries and economies the USA isolates through these vainly conceited and illegal affronts to international justice.
If these actions persist because of erroneous use of stolen information internationally…in the long run this will mostly hurt the USA and any pawn countries such as Panama has become. The US dollar will decline more quickly than predicted and any dollar economy, including Panama’s, will be trashed. We hope that doesn’t happen…but if these current actions are allowed to continue and the robbers of personal data not brought to justice, our world will continue the downward spiral of corruption, dishonesty and absence of justice. This is not a world we desire to participate in. “Atlas Shrugged”…here we come.
These and many other issues are being addressed in “The Truth about the Panama Papers”.