Panama Papers Reveal The Role Shell Companies Play In Miami Real Estate

The massive data leak known as the Panama Papers has shown the role the shadow economy plays in Miami.

According to the documents, a number of foreign nationals linked to bribery, tax evasion or corruption bought up luxury real estate in the city, using shell companies to hide their identities.

The Miami Herald was among the news organizations that obtained the trove of documents from inside the Panamanian law firm, Mossack Fonseca.

Here & Now's Jeremy Hobson speaks with the Herald's Nicholas Nehamas about why Miami has become a hotbed of shady activity.