Foretelling the kind of public backlash other ultra-rich tax dodgers can expect following the weekend release of the so-called Panama Papers, tens of thousands of Icelanders rallied in Reykjavik on Monday demanding the resignation of Prime Minister Sigmundur Davíð Gunnlaugsson.

Gunnlaugsson is just one of the officials facing reprisal after a massive leak of 11.5 million documents from the global law firm Mossack Fonseca revealed a rigged system of elites who use shell companies in offshore tax havens to stash untold fortunes.

And as an estimated 22,000 Icelanders slung eggs and protested outside the Parliament building, observers wondered who would be exposed next and what the total impact might be on the corrupt global system that appears to have been built to specifically benefit the one percent.

“What really matters is the architecture of wealth extraction that has been systematically built up in every country around the world [in order to] hoard as much wealth as possible in the hands of a tiny elite.”
—Joe Brewer, The Rules

Rana Foroohar, assistant managing editor of economics and business at TIME magazine, argued Monday that the corruption exposed in the Panama Papers will likely build on the mounting populist frustration—captured by the Occupy Wall Street movement, global anti-austerity protests, and the 2016 U.S. presidential election—and could potentially “lead to capitalism’s great crisis.”

Foroohar writes:

Similarly, Vox‘s Matthew Yglesias points out that the Panama Papers tap into the same economic critique as the Bernie Sanders campaign. “Deliberate choices,” writes Yglesias, regarding trade, tax policies, and global economic integration, “are made that advantage some and disadvantage others; working-class residents of rich countries generally get the short end of the stick, not because of choices that help the global poor but because of deliberate efforts to safeguard the interests of the global financial elite.”

Indeed, one day after the Washington, D.C.-based International Consortium of Investigative Journalists began reporting on the leak, a few key villains have emerged, including: Russian President Vladimir Putin, Syrian President Bashir Assad, Argentine soccer star Leo Messi, Ian Cameron (father of current British Prime Minister David Cameron), and Alaa Mubarak, son of ousted Egyptian President Hosni Mubarak.

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