Tag Archives: law and morality in the United States

When law becomes a substitute for morality

The following tweet appeared as a post at the Isaac Brock Society and generated a collection of rich comments.
@MopsickTaxLaw Great post on “FATCA Feast” think you salivating people mean “stakeholders” – not “steakholders” http://mopsicktaxlaw.blogspot.ca/2013/03/on-january-30-and-february-1-i-chaired.html …
To provide some context:
Steven J. Mopsick wrote a post which was a report of his experience at a recent FATCA conference. He was impressed by how the attendees were exploiting the business opportunity (inadvertently referring to them as “steakholders”) that FATCA has created for the compliance industry. Interestingly, Mr. Mopsick specifically makes the point that:
The focus of the conference was strictly on FATCA from the standpoint of complying financial institutions.  Most of the participants did not even know about and individual’s duty to file FBAR’s, Foreign Asset Statements (form 8938) and there was very little talk about privacy concerns, fears about the dangers of an emerging international banking data base system, or how Canadian politicians were doing in shaking their lap dog image as pawns of the US government.