However, I'm so certain that the law in the U.S. requires that the bank have full information on the holders of all accounts that I'm willing to bet $150 right now with anyone who believes otherwise.
You've certainly showed us that you believe this Perry, but otherwise this statement contains no educational content. This, to me, sounds like a grown-up version of "Is so!!!" backed up by "My bank account can beat up your bank account!"
[...] ID be presented when you open an account (I know that this is now routine practice, although its possible that its only implied from the standards used to determine non-compliance rather than directly required by the law.)
I'd really like to know if ID is required or not, for one, because that seems to affect the banks liability vis-a-vis presentation of false credentials. You made a claim of fact. I'm asking for you to provide a reference in support of your claim. Simple rational discourse.
[...] you are going to fall under the commercial banking or securities laws no matter what you do, Eric. I'm sorry that you don't like this, but its the truth.
Now you're putting words into my mouth. I made no judgement as to whether I thought this was a good state of affairs. Eric