According to accounts provided by White House officials and corroborated by European and other officials also in the room, Mr. Obama escorted both men, one at a time, to a corner of the room, to judge the dispute. How about replacing the word “recognize,” Mr. Obama suggested, with the word “note?” The result: “The era of banking secrecy is over,” the final communiqué said. “We note that the O.E.C.D. has today published a list of countries assessed by the Global Forum against the international standard for exchange of tax information.” Hong Kong and Macao did not appear on the list.
Rather than devolving into the "what if" line of thinking that the Right loves to use when attempting to address and issue too difficult for them to grasp, I will simply state that all this talk of Obama being nothing more than a rank amateur is a bit more laughable now.