Re:Zynga stock plummets below value of its cash and real estate
by sneak on Wednesday October 10, 2012 @10:20PM
(#4639075)
> Given how litigious the US is, if I were super rich I could not imagine keeping a significant portion of my assets in the country.
You don't even need to be wealthy. The US no longer has the rule of law, so you can now be stripped of your possessions even if you are _accused_ of a crime:
http://en.wikipedia.org/wiki/Asset_forfeiture#The_trend_towa...
Given how litigious the US is, if I were super rich I could not imagine keeping a significant portion of my assets in the country. If you have a lot of money it makes a lot of sense to not only diversify your investments but your jurisdictional exposure as well.
If you know the lawsuits are going to take forever (time) and cost a bunch (money), not having many assets in the US makes it easy to accept a default judgement, declare bankruptcy and write off the loss entirely without ever paying any lawyers a cent.
In this case, the people being sued seem like they totally deserve a lawsuit, but that doesn't change the fact that it is naive to not diversify jurisdictionally.