Panama Papers implicate thousands of the world's wealthy, but few Americans

One of the deals new treasury rules that were sparked by the Panama Papers might jeopardize is the proposed merger between US big pharma Pfizer and the Ireland-based Allergan.

Just 211 US addresses have been found in the data — a small sliver of the massive data dump, which raises the question: Where are Americans putting their money?

The Panama Papers have claimed their first political victim.

Today, Iceland's prime minister resigned. He was one of many whose names showed up in a mass of leaked documents that offer a look at the inner workings of tax shelters and so-called offshore shell companies.

Over 11.5 million financial records were leaked from a Panamanian law firm to a German newspaper in 2014.

The documents point to other high profile individuals attempts to shield large sums of money, including the president of Ukraine, associates of Russian President Vladimir Putin, and even pro athletes such as soccer star Lionel Messi.

But one group has been noticeably absent from the Panama Papers: Americans.

Just 211 US addresses have been found in the data — a small sliver of the massive data dump, which raises the question: Where are Americans putting their money?

Well, as it turns out, Americans don't need to store their money overseas — several states offer similar levels of secrecy.

Take Two talked about it with Shima Baughman. She's a professor of international law at the University of Utah and was one of the original reviewers of the Panama Papers.

Press the blue play button above to hear the interview.