THE BLOG
08/16/2011 07:00 pm ET Updated Dec 06, 2017

Zach Carter Talks Panama Trade Deal With Dylan Ratigan (VIDEO)

HuffPost's Zach Carter appeared on MSNBC's 'The Dylan Ratigan Show' to discuss the controversial trade agreement between the U.S. and Panama. Carter recently reported that the deal could provide wealthy Americans with a tax loophole by allowing them to "hide" their money in Panama-based companies and banks.

"It's just very easy to set up an offshore corporation and bank account in Panama," he said. "It only costs about $2000 and it takes about three or four days for that process to be complete."

Criticizing the trade agreement as irresponsible, he said, "Panama's got some of the most secretive and restrictive bank secrecy laws in the world and ... a very long history of refusing to cooperate with tax authorities in the U.S. so it's very perplexing that you'd want to even engage with this country in a trade deal to begin with."

WATCH (via MSNBC):

Visit msnbc.com for breaking news, world news, and news about the economy