bank secrets

[eppie]

This scheme is senseless, because just like anything else it will go underground.

Well no. The whole thing was that these banks are among others used to bring money from 'underground' to the normal economy. And about 'normal' tax evasion. I don't see these people put their money in a secret bank (so not one witrh secrets but completely secret).
It is however a scheme that will only target people how are doing wrong things, no innocents will be targeted (apart from swiss banks which will be struggling when this thing goes all the way).

Anyway, the fear of things going underground is not an argument not to do something.

Mirabaud is correct, and the names of tax evaders amongst the US political elite keep popping up in the news... Tom Daschle, Nancy Killefer, Tim Geithner, Ron Kirk, John McCain, Hilda Solis, Charlie Wrangel, Sarah Palin, Bill Richarson, and the list goes on and on. And, like the tip of the iceberg, these are the ones that became public.

Yes and many of these people will have their money in switzerland, caymans, virgin islands......so as I see it this Mirabaud gives the exact reason why the US wants to do this. This is a law not to target other countries it is a law to target your own citizins that do something that is not particularly patriotic