Mr. Green further points out
the duplicative nature of FATCA, as its reporting mandates are similar to the Report of Foreign Banks and Foreign Accounts, and its draconian penalties for error.
The problem, imo, is that well meaning folks are brainwashed (by the $ $ beneficiaries) to think that the old shorting rule was swell without realizing the full implications of the whole mechanism — it's
duplicative nature, non-transparency, supply / demand self fulfilment, etc..