Cut the losses and run.

• Position: Stateline - Foreign capital depository idea costs Montana money - Brief Article

Montana legislators passed a law back in 1997 allowing foreign capital depositories to set up in their state, as a way to protect their clients' wealth from tax collectors and government regulators back home. (Think Switzerland and the Cayman Islands.) Backers hoped to reap $10 million a year with a 0.75 percent tax on every transaction made. But no deposits, nor tax money, ever materialized. "It has...