— Marvin Van Horn (@FATCA_Fallout) January 14, 2014
This is a nicely done clip that appeared (in all places) on Toronto news at 6.00 p.m. The news starts off with a continuation of the Mayor Ford Chronicles (as the mainstream media continues its desperate campaign to re-elect Rob Ford).
This video continues with a familiar cast of characters. But, the part that I found particularly interesting was a representative of the Canadian Bankers suggesting that to protest FATCA is the same as protesting winter. Seriously, yes!
“Saying NO to FATCA is like saying no to winter, both will arrive.”
He then confirms his view that the only relevant issue is the well being of the banks and their customers.
“If we were to be non-compliant there is a great financial risk the banks would face and a great financial risk their customers would face.”
I used to think that @CdnBankers were unprincipled wimps. I now think they are completely mindless wimps and are therefore incapable of any principle.
It’s important to remember that the Canadian Bankers Association is basically begging the Federal Government to sign an IGA to protect the Canadian banks!
They want a FATCA IGA because an IGA means:
1. The banks will not have to deal with the IRS
2. Any violations of anti-discrimination statutes will become legal (an IGA will include amendments to existing anti-discrimination laws)
3. An IGA will require ALL banks to comply with FATCA. This has the added benefit of ensuring they won’t have to compete against a FATCA free bank.
These people at the Canadian Bankers Association are pathetic.
Once again I am reminded of the poem by Pastor Martin Niemoller:
First they came for the Socialists, and I did not speak out– Because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out– Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out– Because I was not a Jew.
Then they came for me–and there was no one left to speak for me.
The Canadian Bankers Association needs to be reminded that the “coming of winter” means that their new boss will be the IRS Commissioner. I wonder who will be left to protect the good people at the Canadian Bankers Association then.
Somebody should write the Canadian Bankers Association and explain to them why FATCA is NOT the same as WINTER.
There is NO reason for the Government of Canada to sign a FATCA IGA (except to protect the Canadian banks). Let the banks solve their own problems. Apparently Canadians with the cancerous tumor of U.S. citizenship have to solve their own problems. What makes the bankers special? Human rights legislation (including the Charter of Rights) is to protect individuals NOT banks. If the Government is to protect anybody, it should protect PEOPLE.
All of this reminds me of a great clip from an old movie.
Come on Bernard – really, they can’t make you do it!