Delaware, Nevada, South Dakota, and Wyoming—nice, normal American states, full of nice, normal Americans—have created financial instruments that nameless investors can use to hide their money from the world
Why doesn’t the U.S., instead of abetting the elaborate arrangements, exert its leverage to help change the rules and eradicate the system? Part of the answer is obvious. Powerful people benefit from it, and they are intent on keeping it in place.
Anonymous purchases of Trump properties skyrocketed once he became the Republican nominee for president. As Michel writes, “We have no idea who the vast majority of these purchasers were, or where they came from, or where they got their money, or what they wanted—or how they impacted American policy.”