85 thoughts on “Canadian Bankers Association appears before Senate National Finance Committee on FATCA”
This will be interesting. I would love to read the body language.
Watch the video at 1:45
Thanks so much for the heads-up, Tim. I’ll be watching and listening at 11:45 a.m., Calgary time.
There is also going to be a second hearing at 6:45 with Joe Oliver, Brian Ernewein, and Kevin Shoom.
Thanks, Tim. Goody, I’ll get to watch Joe Oliver “read” the Conservative line once again at 4:45 p.m. Alberta time. He might consider letting Brian Ernewein and Kevin Shoom do that instead — in doing the same, they at least “appear” to have a higher level of intelligence, not having to read it off the script.
After Oliver did his best to try destroy opposition to Harper’s anti-environmental policies in his previous portfolio as Natural Resources minister, he’s now at it with opposition to FATCA IGA or any other Conservative policy..
His performance so far is pitiful.
I hate to think that this guy is in such a responsible position.
Will someone from the Canadian government please without qualification state in non-legal jargon English (that can be translated into French) that:
WITHOUT RESERVATION THE FINANCIAL (OR ANY OTHER) INFORMATION OF ANY DUAL CANADIAN / US CITIZEN WILL NOT BE TURNED OVER TO THE IRS OR ANY OTHER US AGENCY, NEITHER BY A BANK NOR BY THE CANADA REVENUE AGENCY.
Will that unequivocal clear statement be made and put on record?
Let, if it will, the Canadian government put that into a pure black and white statement so we can put that portion of this ‘national origin’ injustice to rest, then we’ll deal with the rights under the Canadian Charter of Rights and Freedoms of all other “US Persons” (or any other country nationals) that reside within the Canadian borders.
@Calgary411, Is someone in government actually saying that?
George,
The Canadian government seems to be implying that according to interpretations of some here at Isaac Brock — if I read what they say correctly. So, if that is what the Canadian government is trying to imply, I want it in plain English. Will they / can they do that?
Calgary. I don’t get that impression at all. Officially they aren’t allowed to say that. What they are saying, sub rosa, is ‘don’t be silly enough to tell your FI that you are also an American and you will be OK.’
@KalC, Cool, so no one will fess up, IRS will get an empty data file and then ask what happened to the one million ‘US slaves…err I mean persons’ hiding out in Canada.
At any rate, we need to have the Conservative government then state unequivocally that the CRA WILL TURN OVER financial information and identification as they receive that from the “foreign financial institutions” for ALL US citizens (except for registered accounts stated), whether or not they are also Canadian citizens (DUAL CITIZENS).
@Calgary, I would rather hear them say,
CRA WILL TURN OVER financial information and identification as they receive that from the “foreign financial institutions” for ALL CANADIAN citizens (except for registered accounts stated), deemed ‘US persons’ according to US law.
This sounds much more discriminating than your version, so they will never say this.
@Calgary….add “living and earning solely in Canada” after CANADIAN citizens to make it sound really horrific.
The video feed has started but not the hearing yet. Anyway the first part will be with someone from the OPP that has nothing to do with FATCA.
Whitekat,
The Conservative speakers can’t seem to let loose from their mouths the words, CANADIAN citizens as I don’t get the feeling from them that they really consider us CANADIAN citizens (and that includes Canadian-born or US-born to Canadian parents who returned to Canada) — only as they say, US Persons who happen to reside in Canada or variations thereof.
I, for one, consider that nothing but a blatant insult if they can’t do that.
The Bankers are now speaking. CBA says no choice but to comply with FATCA.
I still can’t figure out what to click to start the play….darn.
CBA guy:
Blah, Blah, Blah, Blah
CBA guy:
FATCA is here to stay
@Whitekat
Click view this clip
LOL. I must be blind cause I do not see anything to click.
Opp now discussing FINTRAC on how they track bank accounts right now.
Paul Beesley Detective on money laundering and how they deal with and ask for FINTRAC to track any individuals who they have ‘flagged’.
Primary purpose to seize assets from ill gotten gains.
RCMP program of which OPP is a participant in proceeds of crime investigations.
Even my techy 20 year old cannot see what to click…lol…will just listen to you guys give play by play I guess.
This will be interesting. I would love to read the body language.
Watch the video at 1:45
Thanks so much for the heads-up, Tim. I’ll be watching and listening at 11:45 a.m., Calgary time.
There is also going to be a second hearing at 6:45 with Joe Oliver, Brian Ernewein, and Kevin Shoom.
Thanks, Tim. Goody, I’ll get to watch Joe Oliver “read” the Conservative line once again at 4:45 p.m. Alberta time. He might consider letting Brian Ernewein and Kevin Shoom do that instead — in doing the same, they at least “appear” to have a higher level of intelligence, not having to read it off the script.
After Oliver did his best to try destroy opposition to Harper’s anti-environmental policies in his previous portfolio as Natural Resources minister, he’s now at it with opposition to FATCA IGA or any other Conservative policy..
His performance so far is pitiful.
I hate to think that this guy is in such a responsible position.
Will someone from the Canadian government please without qualification state in non-legal jargon English (that can be translated into French) that:
WITHOUT RESERVATION THE FINANCIAL (OR ANY OTHER) INFORMATION OF ANY DUAL CANADIAN / US CITIZEN WILL NOT BE TURNED OVER TO THE IRS OR ANY OTHER US AGENCY, NEITHER BY A BANK NOR BY THE CANADA REVENUE AGENCY.
Will that unequivocal clear statement be made and put on record?
Let, if it will, the Canadian government put that into a pure black and white statement so we can put that portion of this ‘national origin’ injustice to rest, then we’ll deal with the rights under the Canadian Charter of Rights and Freedoms of all other “US Persons” (or any other country nationals) that reside within the Canadian borders.
@Calgary411, Is someone in government actually saying that?
George,
The Canadian government seems to be implying that according to interpretations of some here at Isaac Brock — if I read what they say correctly. So, if that is what the Canadian government is trying to imply, I want it in plain English. Will they / can they do that?
Calgary. I don’t get that impression at all. Officially they aren’t allowed to say that. What they are saying, sub rosa, is ‘don’t be silly enough to tell your FI that you are also an American and you will be OK.’
@KalC, Cool, so no one will fess up, IRS will get an empty data file and then ask what happened to the one million ‘US slaves…err I mean persons’ hiding out in Canada.
KalC and George,
I may have to take that back, re-reading http://isaacbrocksociety.ca/2014/05/01/house-finance-committee-qa-today-on-fatca/ (and I will go back and listen more carefully).
At any rate, we need to have the Conservative government then state unequivocally that the CRA WILL TURN OVER financial information and identification as they receive that from the “foreign financial institutions” for ALL US citizens (except for registered accounts stated), whether or not they are also Canadian citizens (DUAL CITIZENS).
@Calgary, I would rather hear them say,
CRA WILL TURN OVER financial information and identification as they receive that from the “foreign financial institutions” for ALL CANADIAN citizens (except for registered accounts stated), deemed ‘US persons’ according to US law.
This sounds much more discriminating than your version, so they will never say this.
@Calgary….add “living and earning solely in Canada” after CANADIAN citizens to make it sound really horrific.
The video feed has started but not the hearing yet. Anyway the first part will be with someone from the OPP that has nothing to do with FATCA.
Whitekat,
The Conservative speakers can’t seem to let loose from their mouths the words, CANADIAN citizens as I don’t get the feeling from them that they really consider us CANADIAN citizens (and that includes Canadian-born or US-born to Canadian parents who returned to Canada) — only as they say, US Persons who happen to reside in Canada or variations thereof.
I, for one, consider that nothing but a blatant insult if they can’t do that.
Its the OPP detective going first.
I can’t find the link.
http://senparlvu.parl.gc.ca/Guide.aspx?viewmode=4&categoryid=-1&eventid=9451&Language=E#
The Bankers are now speaking. CBA says no choice but to comply with FATCA.
I still can’t figure out what to click to start the play….darn.
CBA guy:
Blah, Blah, Blah, Blah
CBA guy:
FATCA is here to stay
@Whitekat
Click view this clip
LOL. I must be blind cause I do not see anything to click.
Opp now discussing FINTRAC on how they track bank accounts right now.
Paul Beesley Detective on money laundering and how they deal with and ask for FINTRAC to track any individuals who they have ‘flagged’.
Primary purpose to seize assets from ill gotten gains.
RCMP program of which OPP is a participant in proceeds of crime investigations.
Even my techy 20 year old cannot see what to click…lol…will just listen to you guys give play by play I guess.