How Delaware Became the World’s Biggest Offshore Haven

Foreign Policy.com ^ | 11/19/21 | Casey Michael

[DeathBeforeDishonor1]

Much like today, Delaware in the early 20th century wasn’t known for a whole lot. The state maintained a small service sector and an even smaller industrial base. Without any real natural resources or tourist attractions, the state scraped by trying to leech business from those traveling between New York and Washington.

But just over a century ago, in the early 1910s, Delaware spied an opportunity.

In neighboring New Jersey, then-Gov. Woodrow Wilson took office pledging to clean up New Jersey’s corporate sector, which had transformed the Garden State into the go-to destination for corporations across the country looking for protections and secrecy they couldn’t find elsewhere. (Others referred to New Jersey as the “traitor state,” sucking up corporate taxes and fees other states suddenly lost out on.) Propelled by a reformist bent and concerned about who might be taking advantage of New Jersey’s loose regulations, Wilson clamped down, forcing overdue regulations through. Corporate lobbyists decried Wilson’s moves, but their calls were ignored.

Suddenly, those looking for lax corporate regulations had to turn elsewhere—and they didn’t have to look far. Just a few miles south stood Delaware, poised to capitalize on Wilson’s decision and swipe the pro-corporate crown from New Jersey. “Delaware,” read one article in the American Law Review from the era, was “gangrened with envy at the spectacle of the truck-patchers, sand-duners, clam-diggers and mosquito-wafters of New Jersey getting all the money in the country into her coffers.” And the state was “determined to get her little, tiny, sweet, round, baby hand into the grab-bag of sweet things before it [was] too late.”

Delaware was perfectly placed to profit from New Jersey’s decision. The state enjoyed many of the same geographic advantages New Jersey offered, situated between the United States’ financial and political capitals: New York and Washington.

[DeathBeforeDishonor1]

This article is two years old. Yet where did Joe Biden say he lives?

Delaware is the stateside "Ukraine" money laundering corruption shithole. Who knew.

[DeathBeforeDishonor1]

“And there’s little evidence that Delaware ever cared much about who was taking advantage anyway. As one of Delaware’s official websites states, “Delaware is not a secrecy haven, any more than any other state or the United States itself”—which is telling, given the United States, itself, is a secrecy haven. The claim would be laughable if the state’s anonymous shell corporations hadn’t been linked directly to the deaths of hundreds of thousands of people, the swindling of billions of dollars, and the looting of entire nations.”

Who knew?

[Paladin2]

Unc Joe is, at best, a Moron.

[WashingtonSource]

This article wouldn’t be written today. Notice the mention of Paul Manafort but nothing about Joe “Shell Company” Biden. It would seem Biden’s corruption is directly tied to the state’s lax corporate regulations.

[Texas Fossil]

“Joe “Shell Company” Biden”

Bump

[linMcHlp]

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