Normally, when one of our 50 states gets singled out by an international body of some consequence, you would hope it would be good news and something that the locals would brag about. But that’s not likely to be the case with Delaware’s recognition by Transparency International this month as one of the world’s best examples of “grand corruption.” The dubious distinction comes in recognition of the state’s laissez faire corporate registration system, which critics say provides corporations, fraudsters and wealthy individuals secrecy and asset protection that puts it on a footing with notorious tax havens like the Cayman Islands. …read more
Source: Salon
