We need to close tax havens not just because they’re tax havens. They’re also one of the tools corporations are using to hide risk.

Fox Business News has an article describing what it got in response to a FOIA request for Treasury documents on the bailout. While most of the interesting details were redacted because of attorney-client privilege, the documents do reveal the extent to which Citi and AIG were as arrogant when Treasury was negotiating this stuff as they have been in recent weeks.

I’m guessing Citigroup is going to use the new plane they just bought–at taxpayer expense–in France to fly to the places they’ve been sheltering their profits so as to avoid paying US taxes.