Racing to the bottom

Here's an interesting article about the use of trusts to beat creditors, avoid taxes, and keep wealth secret. It singles out South Dakota as the worst offender among states allowing such results, but many states play the game.

It sounds as though the authors of the study in question are looking to Congress to put an end to some of the trust-related shenanigans of the rich. Dream on. Most of the members of Congress are probably employing the maneuvers in question with their own wealth, which tends to be as enormous as it is mysterious.