Madam Speaker, the American Congress gets it. No fewer than 54 United States congressmen have demanded that President Obama forgo the agreement with Panama until Panama signs the tax information exchange treaties which, as I had indicated, France got in short order when it started taxing French corporations that were among the 350,000 foreign companies that are operating in Panama.
The Americans have figured it out. They know that Panama is a major conduit for Mexican and Colombian drug traffickers. The Americans are holding up the agreement. The member for Mississauga South asked the other day why the Americans are not proceeding to ratify and implement the agreement. That is why they are not doing it.
The company AIG was instrumental in getting huge bailouts just two years ago, thanks to the American taxpayers. AIG gave its directors huge bonuses only six months later. On top of that, it is suing the American government for $306 million. It is trying to get back money because of involvement in the tax haven in Panama. A situation like this is absolutely ludicrous.
The Americans have figured it out. The question is, why can the Canadian government not figure it out?