An unprecedented leak of 11 million documents has revealed the hidden financial transactions of the world’s wealthiest and most powerful players. These documents are set to shake governments all across the globe, we’re guessing? Come on, it’s 11 million documents. Give us a break!
The Panama Papers have come from a little known (Panama based we’re assuming) law firm called Mossack Foresca, which specialises in creating shell companies to hide wealth transactions. We’ll update you with more information about the mysterious Mossack Foresca throughout the day as Wikipedia adds more information to its page.
The investigation was coordinated by the International Consortium of Investigstive Journalists, an organisation we have no association with because we’re not a bunch of nerds.
Famous people implicated include the President of Iceland and Jackie Chan, according to other news sites. We’re going to take their word for it. If they can be bothered to read 11 million documents, bully for them but this is why our Journalists Softball League team is undefeated.
All in all, something potentially big happened, but there’s a lot of financial jargon that’s hard to understand, so you don’t really care, do you? You guys don’t need to know everything and it’s unreasonable to expect us to inform you of it.
Matthew Farthing is the Financial Reporter for the (un)Australian. His regular financial advice show, “Do This, Idiots” has lead to massive financial gains for the repo industry.