The problem with Panama: It’s all legal

Why would law makers discommode influential and supportive friends? asks Michael Clifford

I never cease to be amazed at how good some people are with money. Take Frank Flannery. Twenty years ago when he was working for Rehab, the charity that champions people with disabilities, he bought a house in London for £615,000. This would be the equivalent today of forking out more than €2m for a pad. And you thought those kind of living quarters were the exclusive preserve of wealthy businesspeople, bankers, lawyers, and accountants? No sir, if you watch the pennies, the pounds will take care of themselves.

Frank was moving to London to continue his work with the group and needed a place to live. The Bank of Ireland sorted him out for a large mortgage. Except, as the Panama papers published this week revealed, he also had a mysterious benefactor.