Penn’s motto is the Latin phrase, “Leges sine moribus vanae,” which translates to “Laws without morals are useless.” After the recent revelations of the Paradise Papers, it is obvious that Penn hasn’t been entirely practicing what it preaches.
The Paradise Papers, released on Nov. 5, 2017, are a set of 13.4 million electronic documents that describe the offshore investments of over 120,000 businesses, individuals, and companies. Some of the high profile individuals whose financial affairs are mentioned include Queen Elizabeth II, Bono, and various heads of state. Furthermore, well-known international corporations that own offshore financial companies, including Apple, Nike, and Facebook are named. Of greatest relevance to us as college students is the revelation that more than 100 United States universities have hidden assets by investing in offshore tax havens. Most disturbingly, this includes Penn.
The fact that these practices