Yes, of course.
The worst aspect of FATCA is what it did to the United States. It basically deflected large numbers of our resources into writing these incredibly detailed rules for something that's not going to produce a lot of revenue. It never made much sense to me to take people off corporate tax audits and have them writing rules for the rest of the world.
I also have severe doubts about how FATCA is going to play out. We're going to get tons of information from all over the world, but exactly who is going to read that information? When last I looked, they had one individual up in a warehouse in Detroit looking through our foreign bank account reports.
You know, I just doubt that we'll go on spending all these resources indefinitely on this.
Now, I'm sure you're not focused on that. I think most of the rest of the world is focused on the intrusion into other countries' processes, etc. I appreciate that FATCA's a very.... Nobody ever did a cost-benefit analysis on FATCA. There's a huge amount of cost required of financial institutions around the world, and there's a lot of foreign policy, foreign relations, and negative effects of FATCA, but to me it's kind of a stupid piece of legislation just within the U.S. context.
On the other hand, I want to say—and I'm a late convert to this idea—that it has gotten the world's attention in a way that nothing else previously did.