Yes. The United States has automatic information exchange with many countries. In fact, that's the rule in the United States. I don't know that it is.... Automatic information exchange, as far as I understand, basically involves your turning over the information you collect to the other country on an automatic basis. It's fairly easy for a taxpayer who wants to avoid being identified to invest through some blocker entity between the taxpayer and the account. It's relative child's play to get around automatic information exchange.
I don't believe, in our experience, that it has done anything. Look at what we're going through right now. We're trying to identify offshore accounts. We've passed this Foreign Account Tax Compliance Act, which is a subject that nobody has mentioned here but is very important to this discussion. That's going to do a lot more than automatic information exchange ever did, and we've had automatic information exchange for 40 years. It's not an answer, as far as I'm concerned.