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Such bank clients, he said, will most likely shift to other locations that still offer secrecy.
And they created 501(c) "social advocacy" groups like Crossroads GPS to offer secrecy to campaign donors.
But that limitation is widely ignored as new partisan groups register as nonprofits to offer secrecy to donors who finance their campaign activities.
They offer secrecy, in various forms, combined with varying degrees of refusal to co-operate with other jurisdictions in exchanging information.
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"The C.I.A. offered secrecy," he writes, "and secrecy had always seduced American presidents".
In its place, the new mediators operate on a much smaller scale and offer discretion, secrecy and flexibility.
There are a number of reasons why you might want to put your money in an offshore fund, but chief among them has to be the offer of secrecy.
It, too, offers BVI secrecy: their services include "nominee officers and shareholders when confidentiality is a key issue".
They seemed to offer a secrecy-themed twist on Stieglitz's "Equivalents" series of cloud pictures: "It's these airplanes that are making the clouds, and doing it in restricted airspace".
SOMERSET MAUGHAM, a British novelist, once described Monaco, a tiny city-state on the Mediterranean coast that offers sun, secrecy and minimal taxes to its many super-rich residents, as "a sunny place for shady people".
Ill-gotten gains often receive a warm welcome in large OECD countries, some of which offer more corporate secrecy than the leading tax havens.
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