Jack Lew is, by all accounts, a decent guy and dedicated public servant, but like so many of our recent treasury secretaries is so deeply immersed in the old boy nexus of Wall Street and government as to have little comprehension of how, in the midst of a soaring Dow Jones, so many millions struggle to make ends meet.
Islands like the Caymans are well-known as corporate tax havens, and earlier this week Vermont Senator Bernie Sanders railed against rampant offshore tax abuse. What's less well-known, but perhaps just as troubling, is that hedge funds use these havens to avoid something else as well: proper governance.
Social media giant Facebook is the latest American corporation to use its offshore entities as a way to dodge the taxman, paying only a 0.3 percent ta...