…[I]n the U.S., every state permits the creation of shell companies that do not require identifying the real owners of those entities. Shell companies are essentially empty vessels for holding financial assets anonymously. This is a key tool for avoiding taxes, and for criminals to launder illicit money and gain access to banks…Embarrassingly, my home state Delaware is the global epicenter for shell companies…[T]he “Delaware loophole” enabled corporations to reduce the tax bill owed to other states by $9.5 billion over the last decade…Without tax dollars, governments cannot build schools, hospitals, or the infrastructure to create dynamic and inclusive economies that bring jobs and fight poverty…[the release of the Panama Papers] demonstrates the power of whistle-blowers, dedicated journalists, and civil society activists to reveal the inner architecture of how wealth is hidden…