Some are calling it the biggest financial scandal in decades while others are refering to the Panama Papers as the unprecedented victory of journalism over the rich and mighty of the world. But with this week's leaks about offshore firms established by the Panamanian law firm Mossack Fonseca to help clients avoid paying tax in their countries of residence, the endless coverage comes with a long list of sometimes-baffling financial terms. Readers must grapple with phrases like "shell companies" and "fiduciary responsibility" in order to understand the relevance of the leak.
For about a year before the leaks became public, more than 100 news outlets worked in tandem with the International Consortium of Investigative Journalists to make sense of 11 million documents. Now animators, comedians and other journalists are trying to explain the information in simple ways. As a result, the internet has exploded with a cluster of infographics, explainer videos and interactives that attempt to make the story a little more comprehensible.
There are cartoons, piggybank analogies, and there’s even ex-wrestlers and porn stars explaining the workings of shell companies. So let’s try to wade through the clutter, shall we?
The Piggy Bank Analogy
Among the things going viral on the internet right now is a piggybank analogy that surfaced on the reddit forum, as part of a discussion in which users were trying to explain the complex issues as if they are talking to a five-year-old child.
Vox created an illustrative video of the illustrations, which involve a child hiding his piggy bank in a closet at a friend’s place. Other kids do the same thing, until the friend's mother finds all the piled up piggy banks and tells everyone's parents about them.
However, the analogy isn't without its problems. Some people claim that it oversimplifies a complex issue that involves legal violations that are more serious than just hiding a piggy bank.
The ICIJ explainer
The official International Consortium of Investigative Journalists video explainer makes use of gritty graphics while capturing much of the complexities in easily graspable terms.
Hillbilly Jim's take
Former porn actress Lisa Ann, star of such classics as Bra Bustin' and Deep Thrustin, had some ideas too.
Stairway to Tax Heaven
This game, called Stairway to Tax Heaven, was put together by ICIJ. It allows the user to play a football star, a politician or a business tycoon and take decisions on their behalf. You can test your inscrutability here.
Tucking it away
Meanwhile, The Guardian has put out a clever explainer that uses a narrative to explain how Russian President Vladimir Putin used the firm Mossack Fonseca to hide billions of dollars and then cheekily suggests ways to spend it.
Russian dolls
Others have compared the leaks to matryoshka dolls or “spirals within a spiral”. It explains: "One company controls another company, which controls a third, and so on.”
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