Now that Snowden let the secret cat is out of the bag, in an interview with Charlie Rose last week, Obama is suddenly looking forward to a national conversation about the balance of security and surveillance. What form it takes is an open question, and you have to ask, why now, when a month ago there was no hint of any such need?
Then today, we have Secretary John Kerry, calling for Reciprocity in enforcement of the law, to cajole Russia’s help in apprehending the ‘bag opener’ that is forcing the conversation that Obama suddenly thinks might be a good idea.
I have to wonder how this zeal will transfer over to FATCA, where others are wanting real reciprocity there also. Those in the offshore investment community are now demanding that Delaware should go first when it comes to Tax Haven reciprocity.
I guess as soon as we have that ‘national conversation’ on FATCA that we forgot to have, reciprocity is right around the corner. Haven’t we just been told publically, by a high administration official in John Kerry, that is is very important?
One small problem, to have that ‘national conversation’ about the DATCA reciprocity we plan to provide, we will have to dig the subject matter out of the bowls of the 2014 Obama budget on page 202 where is currently is hidden in plain sight.
Are you ready for that Congress? You didn’t do it back in 2010, but there is no time like the present to begin.
Obama, you can count me in. Let’s have that ‘national conversation’ about FATCA matched with that DATCA ‘reciprocity’ tit for tat exchange of information where all our financial institutions and non transparent beneficial ownership States chip in. The hunt for the Delaware corporate beneficial owner is the sidekick of FATCA, that we can no longer overlook or ignore. When will it begin? I can’t wait.