Bernie Sanders Sort of Saw This Whole Panama Papers Thing Coming
With the Panama Papers' revelations of transnational financial skulduggery now burning up the Internet, Bernie Sanders' many fans have started passing around a video of a fairly prescient speech the presidential candidate delivered back in 2011. At the time, the U.S. was considering a free trade agreement with the charming Latin America tax haven, supported by President Obama and his then–secretary of state, Hillary Clinton. But progressive activists argued that the deal would only make it harder for the U.S. government to deal with bank secrecy and tax avoidance. Sanders brought those concerns to the Senate floor:
Panama's entire annual economic output is only $26.7 billion a year, or about two-tenths of one percent of the U.S. economy. No one can legitimately make the claim that approving this free trade agreement will significantly increase American jobs.
Then, why would we be considering a stand-alone free trade agreement with Panama?
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