Passed along by the usual suspects, this is very good satire.
Yes, homelanders this is exactly what this law looks like to the rest of the world. I was explaining the law the other day to some friends here and one of them looked at me in disbelief and said, "Wait a minute, Obama did this?" Yeah, 'fraid so, I said.
There is also an ebook out called FATCA and the New Birth of American Empire by Robert Morris which I will download today and I promise to review here soon.