scam. >> you hear it all over the news. >> it really isn't true. >> john: look at this gao report. irs says cayman officials provide all requested information in a timely manner. >> mitt romney pays taxes on all the money earned from this cayman entities, i would say it would be like pirate heaven, some pirate would go and steal all the money. >> that actually doesn't happen because the rules are understandable. >> john: our laws are so complex even regulators don't understand them. sec investigated bernie madoff six times but didn't stop him? >> he could never got away with n the cayman with what he got away here in the u.s. >> remember the solution after the enron scandal. >> it's a tough law.