Reply #53: for American citizens

[sui generis]

Swiss banks are required to report balances and holdings to the U.S. Treasury, Internal Revenue Service. They are not required to report the source of funds, just the balances.

That's the sticky nuance. Once you open that can the Swiss banks are just an unpaid extension of the IRS. So now we want Swiss banks to report SAR (suspicious activity reports, amounts > 9.9K transactions and funds transfers - source and destination parties, and their associated private information, to the IRS). We want them to report all the "host" information for anyone depositing or cashing a check from those accounts, not just to the IRS but to the courts and media. Are you comfortable with that? At some point we need to stick to equal treatment under the law, or else risk our own information subject to the same precedents here in the U.S. I'm not comfortable with that, and certainly not as a blanket rule. If there is evidence of a crime, then make a criminal case, but the evidence has to come before the accusation.

I'm sorry Red, not into setting the monsters on fire and pitchforking them just because the rabble thinks it's a good idea.