A reason why there haven't been any Americans names in the Panama papers [View all]

[Separation]

www.politico.com/agenda/story/2016/04/the-panama-papers-where-are-the-americans-000083

If the Panama Papers had come out in the early 1980s, the scandal may have implicated far more Americans. Back then, experts say, Panama was a popular spot for parking money offshore for its lax bank secrecy laws and currency controls. But in 1989, under then President George H.W. Bush, the U.S. invaded Panama and deposed the military dictator, Manuel Noriega, and wealthy Americans have largely avoided the country since.

At the same time, countries such as Bermuda, the British Virgin Islands (BVI) and the Cayman Islands all have changed their laws to court investment, giving them significant advantages over Panama. Those three countries operate under a derivative of English common law, which gives American lawyers a sense of familiarity and confidence in their legal systems. Further strengthening that trust, Panama is a Spanish-speaking country, while Bermuda, BVI and the Cayman Islands all use English. Wealthy Americans are also more confident in the political systems of the three countries as opposed to Panama, which many see as more unstable. Other countries have also become more appealing spots to hide money by combining strong bank secrecy laws with a stable legal and political system.

I remember a movie with Johnny Depp called Blow. He was a drug dealer in the 80's and he kept all of his money in Panamanian banks. When Noriega came to power he took control of the Banks and Depps character lost all of his money.

After edit: If anyone can tell me how to make a hyperlink I will edit the post so you don't have to copy and paste. Sorry about that, I haven't figured it out.