Re: So worst case scenario with banks still no biggie?
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Banking system is not currently structured to deal with this. Further the number of banks are shrinking week by week due to various burdens they are unable to overcome, some regulatory, some technology based, and some economic.
There is a significant amount of banks getting their asses handed to them by the government regulators for not tracking terrorists to a high enough standard. They have been unable to even perform this and are struggling to keep their head above water with just that.
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Which is exactly why the banks are opposed to this bill, but I can assure you that they will comply with it if it becomes law. It is ridiculous for you to suggest that they won't.
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They will do their best to comply. IMO, (I have banking operations experience) they won't be able to stop the flow of money to the offshore sites. Certainly, they'll slow it but they won't be able to stop it.
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