Loopholes In Panama Papers

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Upon learning about the Panama Papers, I was stock at how much we know about what is going on, but nothing significant has been done. One would think with all of the legal loopholes these corporations and countries are using. The law makers would work tirelessly to pass new laws that would reject them the ability to use those loopholes. One example would be, “Incorporating your hedge fund in a country with no corporate income tax even though all your fund's employees and investors live in the United States is perfectly legal.” Why is it legal to do this? Why do we allow people like George Soros to get away with doing this?
Obviously, in George Soros case this was the smart thing to do. Most people who set up their hedge funds overseas, is because
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