Resistance
Is Futile! You WILL Be Assimilated!
New
"Supersnooping Federal Agencies"
Will Collect Data On Americans
Big Brother wants to watch you more
closely.
Especially how you spend your money.
His latest snooping plan comes from
provisions in the banking bill being
debated
in the Senate. The bill is being
pushed by
Sen. Chris Dodd, D-Conn., chairman
of the
Senate Banking Committee. Among
other
things, the bill is supposed to
alert
regulators to hazards in the
industry to
prevent another financial meltdown
like the
one that started in September 2008,
and to
make it easier to spot rip-off
artists like
Bernard Madoff. The bill sets up two
new
supersnooping federal agencies to
collect
data on ordinary Americans:
• The Office of
Financial
Research. This supposedly would
predict risk
in the system by collecting massive
amounts
of new financial data, such as
patterns of
credit card use.
• The Consumer Financial Protection
Bureau. It would collect data,
especially on
consumer transactions.
The data are supposed to be
"scrubbed" of individual
identifiers, so your privacy would
be
protected. But that might not work,
Mark
Calabria told us; the director of
financial
regulation studies at the Cato
Institute
formerly was a member of the
senior
professional staff of the U.S.
Senate
Committee on Banking, Housing and
Urban
Affairs.--
============
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