First (in this round, anyway) it was KPMG setting up offshore accounts in the Isle of Man, and now 2.3 terabytes of material about people using shell corporations to hide funds in Panama. Does anyone think this is the last of these revelations? Un paradis fiscal, the French call it, and so it seems to be for those wealthy enough and with little enough sense of community to use these schemes to avoid paying for the privilege of living in a what was once a civilized society (or what at least had aspirations in that direction).

Part Deux: When was Wikileaks the big breakout story? Torture, cowboy justice, extrajudicial killings, cluster bombs, drone killings, massacres and a general attitude of we had to do it because they did it or because we are the good guys and it saves lives on our side and all manner of justifications for bad behaviour. Has anyone other than the few from Abu Graib gone to prison or otherwise atoned for the aforementioned bad behaviour? Not likely. Any consequences for bending and breaking the rules in the Crisis of 2007-09? Seems not. Any real penalties for the KPMG affair? Don’t see any on the horizon. Do you think RBC will be taken to task for the Panamanian Caper? Not holding my breath. You know, it’s just fiduciary duty to the client, maximizing returns.

Aside from the obvious tar-and-feather party, it seems only reasonable that anyone involved should be stripped of all assets, shipped off to Panama and forbidden to ever re-enter the country or to participate in any kind of business related to the jurisdiction they seemed so keen to short change. Still not holding my breath waiting for Real Change.