2023-04-13
46 分钟Delaware is beloved by corporations, bankruptcy lawyers, tax avoiders, and money launderers. Critics say the Delaware “franchise” is undemocratic and corrupt. Insiders say it’s wildly efficient. We say: they’re both right.
Walk me through your attraction to the Delaware story.
When did that begin and how?
When I was a financial reporter, all roads seemed to lead to Delaware.
Elon Musk goes under the microscope in Delaware.
Twitter is set to depose the Tesla CEO in Wilmington.
95% of the corporations that are incorporated in Delaware don't really do any significant business here.
Evidence has been brought against Victor Boot for weapons trafficking in hot spots around the world that span Afghanistan, Colombia, Rwanda, Congo.
So I had a vague understanding that Delaware was important, but not really why.
And nobody else seemed to be asking that question.
The truth is, most people don't ask any questions about Delaware or even think about Delaware.
It is the second smallest us state by area, the 6th smallest by population.
It calls itself the first state since it was the first of the original 13 to ratify the constitution.
What else is it known for?
The Delaware beaches are absolutely spectacular.
We have the grand Opera House.
We have the Dupont theater.
Delaware is a little hidden gin from that perspective.
Delaware is also a gem if you were looking to hide something yourself.
The whole system has enabled tax dodging, money laundering, the flow of dark money into the us political system, and the trafficking of people, drugs and arms.
Delaware has established its own rules for how corporations incorporate.