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Why Is Obama Stockpiling Your Personal Financial Records?
Investors.com ^ | June 5, 2014 | IBD Editorial

Posted on 06/05/2014 4:35:58 PM PDT by jazusamo

Diversity Police: Republicans are scratching their heads over the Obama regime's privacy-invading "National Mortgage Database Project." What's it for? That's easy: redistribution of wealth.

In an unprecedented federal intrusion, the president's most radical financial regulators — Mel Watt of the Federal Housing Finance Agency and Richard Cordray of the Consumer Financial Protection Bureau — are creating a massive discrimination database on as many as 230 million Americans.

It will encompass a mortgage holder's entire credit history — including credit scores and account balances — and all credit lines, from credit cards to student and car loans.

"Why are we collecting this amount of data on this many individuals?" asked GOP Rep. Randy Neugebauer of the House banking panel.

The key data that the agencies plan to collect involve "household demographics" — namely, "race/ethnicity." The database will be used to compare the credit outcomes of minority vs. white borrowers. Any statistical disparities will be used to make "disparate impact" bias cases against private creditors in a vast redistribution scheme.

The agencies even allude to this in their proposed rule, recently posted in the Federal Register and opened to public comment for just 30 days, half the normal time.

The FHFA and CFPB explain that they're going to use all these intimate details on families and their financial lives to "conduct research, performance modeling and examination monitoring." They're also going to share it with Attorney General Eric Holder, as well as state attorneys general and trial lawyers, to aid in their "investigations" of, and "litigation" against, the financial industry, which they've already shaken down for an estimated $100 billion since the mortgage crisis. Apparently, they're just getting started.

Then there are the privacy concerns.

(Excerpt) Read more at news.investors.com ...


TOPICS: Crime/Corruption; Government; News/Current Events
KEYWORDS: cordray; familyrecords; financialrecords; obama; privacy; watt
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In another 2 1/2 years 0bama and handlers will have it all.
1 posted on 06/05/2014 4:35:58 PM PDT by jazusamo
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To: jazusamo
No mortgage, no loans, no bank accounts.

Not everyone plays their silly reindeer games.

/johnny

2 posted on 06/05/2014 4:37:09 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

That will work until the other shoe drops. That being a currency change or an electronic currency system.


3 posted on 06/05/2014 4:39:28 PM PDT by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: blackdog
Nope. There are ways around all of it. Depends on how free you want to be.

/johnny

4 posted on 06/05/2014 4:40:32 PM PDT by JRandomFreeper (Gone Galt)
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To: blackdog
electronic currency system.

Exactly, and it's getting closer and closer.

5 posted on 06/05/2014 4:41:59 PM PDT by jazusamo (Sometimes I think that this is an era when sanity has become controversial: Thomas Sowell)
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To: jazusamo

They’re going to banish cash, get you out of your smoke car.

Then they’ll move everyone in the burbs and countryside into sky-high towers festooned with cameras, barking shepherds and scowling paradise cops.


6 posted on 06/05/2014 4:42:37 PM PDT by gaijin
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To: jazusamo
Why Is Obama Stockpiling Your Personal Financial Records?


Why?

For your own good , of course

7 posted on 06/05/2014 4:44:33 PM PDT by rdcbn
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To: gaijin
Nope. They may want to do that. They may try to do that.

It won't work. Still gotta have people to grow the food, mine the minerals, harvest the lumber, and work in the sewers.

That won't happen in towers.

Have faith in man's ability to screw over the king.

/johnny

8 posted on 06/05/2014 4:45:09 PM PDT by JRandomFreeper (Gone Galt)
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To: blackdog

Electronic currency.

That’s how they will take a percentage of every dollar that changes hands.


9 posted on 06/05/2014 4:46:45 PM PDT by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: rdcbn

17 trillion debt...17 trillion in IRAs. Any questions?


10 posted on 06/05/2014 4:48:01 PM PDT by Pafreedom
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To: JRandomFreeper

And politicians still need to be able to hide their cash and transactions. That’s the problem. Holder’s working on that though.


11 posted on 06/05/2014 4:48:55 PM PDT by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: Fresh Wind
How did soviet citizens get around the crappy ruble? Because they did. Commerce continued that the central planners didn't control.

/johnny

12 posted on 06/05/2014 4:49:15 PM PDT by JRandomFreeper (Gone Galt)
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To: jazusamo

Like credits from Total Recall ?


13 posted on 06/05/2014 4:50:34 PM PDT by al baby (Hi MomÂ…)
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To: jazusamo

Pure insanity. How is this legal?


14 posted on 06/05/2014 4:50:53 PM PDT by Girlene (Hey NSA!)
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To: Pafreedom
No IRA. You'd have to speak to ex-wives 1-3 for where that money went.

So sorry. No mas.

/johnny

15 posted on 06/05/2014 4:50:58 PM PDT by JRandomFreeper (Gone Galt)
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To: gaijin
Then they’ll move everyone in the burbs and countryside into sky-high towers festooned with cameras, barking shepherds and scowling paradise cops.

They still have that pesky "gun" thingy to deal with first.

16 posted on 06/05/2014 4:52:55 PM PDT by Doomonyou (Let them eat Lead.)
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To: Girlene

It’s definitely insane and I believe illegal. Sadly 0bama and thugs don’t care much about legality and it seems most of their supposed opposition doesn’t either.


17 posted on 06/05/2014 4:55:19 PM PDT by jazusamo (Sometimes I think that this is an era when sanity has become controversial: Thomas Sowell)
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To: gaijin

They’re going to banish cash.”

While that would certainly tend to cut down on robberies if everyone used a credit card or check, I can’t see them doing that as long as there is such an active drug trade.

Wonder what all the Mexicans would do if they couldn’t be paid cash for their yard work and housecleaning. Certainly put the kabash on the huge underground economy.


18 posted on 06/05/2014 4:55:24 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Grams A
The dream of destroying the 'underground economy' has been the dream of despots since Caesar was a corporal. It's not going to happen.

Have faith in the mule-headedness of less than perfect citizens. We'll find a way around the king.

/johnny

19 posted on 06/05/2014 4:58:15 PM PDT by JRandomFreeper (Gone Galt)
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To: Grams A

No you missed the point, Grahamnasty and Cantor want the scraps of when they get dumped into Obummercare, foods stamps, etc etc as they are given legal status. They won’t need cash after loosing those substandard jobs (like our insurance policies ) they will get Cards with everything they need on our dime and the E-GOP will still think they can get them as a voter block...


20 posted on 06/05/2014 5:00:23 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: JRandomFreeper

I’m with you on this but I still haven’t found a way around not having a bank account or a credit card. I guess when the SHTF I’ll try harder.


21 posted on 06/05/2014 5:02:18 PM PDT by BipolarBob
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To: jazusamo

Because all the busy bodies want to run my life...

That’s why I picked up smoking.

It causes busy bodies and statistics....


22 posted on 06/05/2014 5:05:15 PM PDT by Vendome (Don't take life so seriously-you won't live through it anyway-Enjoy Yourself ala Louis Prima)
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To: Grams A

My friend lost his credit card and 3 hours he realized it and notified the card company. In that time of 3 hours, someone had charged $1500 on his credit card. So robbers will just take your credit cards. Since there is a limit on how much we are liable for fraudulent charges on credit cards, the loss will be passed on to all commerce in the form of higher commissions, higher prices and higher taxes etc.


23 posted on 06/05/2014 5:05:27 PM PDT by entropy12 (Harry Reid has killed more good bills passed by House than our Soldiers lost looking for Bergdahl)
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To: blackdog

BTTT on that statement.


24 posted on 06/05/2014 5:11:32 PM PDT by Salvation ("With God all things are possible." Matthew 19:26)
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To: Grams A

Pizza Patron, a Dallas pizza chain, raised minor furor a few years ago by saying they’ll accept pesos along with dollars at their stores. You could very easily see the same thing happening across the country, with Mexican or Canadian currency becoming an acceptable alternative to the American dollar.


25 posted on 06/05/2014 5:13:18 PM PDT by tbw2
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To: Vendome
Did someone require all freepers to turn in their testicles?

Because there isn't much fire in the belly for creative dissent in this crowd. Lots of folks rolling over and whining how all is lost, though.

/johnny

26 posted on 06/05/2014 5:15:03 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper
It won't work. Still gotta have people to grow the food, mine the minerals, harvest the lumber, and work in the sewers.

That's what the outer districts are for.

27 posted on 06/05/2014 5:19:31 PM PDT by Vince Ferrer
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To: jazusamo
I'll tell you exactly what they are planning to do with it.

They want to know what everybody's assets and investments are so they can use the asset forfeiture laws to seize them.

What do you think the NSA has been doing with all that data they have been collecting? They are documenting the federal crimes that people commit. There are so many federal laws now that the average person unknowingly commits three felonies a day (see Harvey A. Silverglate's book "Three Felonies a Day").

Ever downloaded a movie from the Internet? $250,000 fine and 5 years in prison.

One of these fine days we are going to wake up to discover that the feral government has seized the bank and investment accounts of half the population (the half that doesn't support Democrats) on the pretext of the long list of federal crimes the NSA has documented.

They don't have to prove anything. That's the beauty of asset forfeiture. All the government has to do is accuse somebody of something and take their stuff. Doesn't matter if any charges are ever filed. Once they seize it, you're never getting it back.

28 posted on 06/05/2014 5:19:40 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: Vince Ferrer
Then that's where this free man will be.

/johnny

29 posted on 06/05/2014 5:23:17 PM PDT by JRandomFreeper (Gone Galt)
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To: E. Pluribus Unum
Once they seize it, you're never getting it back.

Ok. Then what?

You have nothing left to lose(if you are stupid enough to sit still for the shearing). What is your next move?

/johnny

30 posted on 06/05/2014 5:25:23 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

Play right into their hands so they have an excuse to roll out Ubama’s civilian Nazis.


31 posted on 06/05/2014 5:30:19 PM PDT by E. Pluribus Unum ("The more numerous the laws, the more corrupt the government." --Tacitus)
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To: tbw2

You are correct — there will be an alternate currency. Not sure it will be pesos or Canadian dollars, or silver or 14K gold — or bitcoins.


32 posted on 06/05/2014 5:41:34 PM PDT by expat2
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To: E. Pluribus Unum
I don't know if you've noticed, but there are more of us than there are of them. And they are all bunched up.

I certainly hope the whiners of FR aren't reproducing. We need some folks with the ability to resist in our ranks.

/johnny

33 posted on 06/05/2014 5:41:36 PM PDT by JRandomFreeper (Gone Galt)
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To: All

34 posted on 06/05/2014 5:46:13 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: jazusamo

BTTT


35 posted on 06/05/2014 5:50:12 PM PDT by CedarDave (CNN: The "Crisis News Channel" - all Flight 370 hysteria and global warming blather, all the time.)
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To: JRandomFreeper
That was a reference to the book The Hunger Games, a book, (or movie) conservatives should be getting familiar with.
36 posted on 06/05/2014 5:50:36 PM PDT by Vince Ferrer
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To: Vince Ferrer
Why should I get familiar with it? I don't intend to live in a dystopian future. I work actively to avoid that.

/johnny

37 posted on 06/05/2014 5:54:20 PM PDT by JRandomFreeper (Gone Galt)
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To: blackdog

The new One Hundred Dollar Bills are out...I got six of them today at the bank...all a first time distributed. Really different paper, design, and a purplish blue line near the middle...a strange small emblem that could be the tracking system.


38 posted on 06/05/2014 6:01:01 PM PDT by Kackikat
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To: JRandomFreeper
Why should I get familiar with it?

Because the books and movies are extremely popular and speak to a new generation about the nature of government power. If you want to speak to a young person about politics, it is good to speak to them in a language they already know.

Hunger Games was written by a very liberal woman, but like a lot of arrows they shoot, it wildly misses, because it works much better as an anti-Progressive story than an anti-Conservative one. It is a story of a future Tea Party movement.

39 posted on 06/05/2014 6:08:45 PM PDT by Vince Ferrer
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To: Vince Ferrer
Dystopia holds no fascination for me. Some freepers seem to wallow in the fantasy of dystopia.

I have no time to waste on crap like that. The young people I deal with know that I will avoid or break stupid rules in a heartbeat, and are well aware that I see most government as no better than a tarted up shakedown/protection racket that must be subverted.

/johnny

40 posted on 06/05/2014 6:12:36 PM PDT by JRandomFreeper (Gone Galt)
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To: JRandomFreeper

Yep. For one thing, there are many ways to avoid excessive personal spending. The main way is to learn and practice as many useful technologies as possible (one example: alternative home energy with stealth considerations for security). Those who don’t receive much income and don’t buy much are legally avoiding generating big revenues. All a little off of the posted topic, though.

As for the topic posted above this thread, maybe some folks in government are considering some kind of partial debt repudiation deal for those headed for foreclosures. That was one of the issues for many Icelanders.

It’s best, though, to avoid mortgages and other debts. One can learn to build, repair and do many other money-saving projects for oneself. As for frivolous regulations, there are many legal ways around those for people who study, think and work enough.


41 posted on 06/05/2014 7:43:50 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: tbw2

I remember when this happened. Some guy tried it in Houston and it lasted about 10 minutes before he stopped that nonsense. Can’t you just imagine some of these fast food cashiers trying to figure out the exchange and conversion rate? They can’t even do it with dollars for dollars with their electronic computer.


42 posted on 06/05/2014 8:01:18 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: entropy12

My grandson bought something at BestBuy in Kansas. Next day a female with numbers same as his card spent $5,000 on clothes at The Gap in Minnesota. I was notified by text message of charges to his account since they were over $10. Talked with the people at The Gap and then called the credit card company with the girls name and driver’s license number. They credited his account immediately but said they wouldn’t prosecute the thief because it cost them too much money to do so.

So took his credit card from him and got him a rechargeable card which I put only $50 on at a time. Pain for me but a lot less hassle than trying to resolve it after the fact. And he is not allowed to buy anything from Best Buy unless it’s with his own cash.


43 posted on 06/05/2014 8:12:29 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Grams A

That is amazing that some girl can buy $5000 worth of clothes (which is a lot of items at the Gap) and pay without a credit card! Since your grandson had not lost his card, did the thief make a fake card?


44 posted on 06/05/2014 9:20:51 PM PDT by entropy12 (Harry Reid has killed more good bills passed by House than our Soldiers lost looking for Bergdahl)
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To: entropy12

did the thief make a fake card?”

Yes she did have a fake card. Same numbers, same expiration date, same security code. Identical to my grandson’s except that it bore her name. She was Asian. Whomever did it is quick and thorough. I spoke on the phone with the manager of the Gap and she said everything looked very real and authentic, and the charge went through without a hitch.

Had to come from BestBuy though because that was the only place he had used the card in months and I had problems with them before but in Houston.

Credit card company removed all of the charge immediately so it was obvious they’ve been through this issue a lot of times.


45 posted on 06/06/2014 12:13:44 AM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Grams A

I had a friend who worked at a bank in college. He deliberately requested a stack of two dollar bills and then took everyone to a fast food place to order off the dollar menu. Utter confusion, with threats to arrest him for trying to use counterfeit money. None of the clerks or even the manager had seen a two dollar bill.
That type of confusion or the ability to pass fakes only goes up with other currencies.


46 posted on 06/06/2014 3:41:59 AM PDT by tbw2
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To: jazusamo

They are going to redistribute your good credit score to someone “needy.”


47 posted on 06/06/2014 4:38:42 AM PDT by informavoracious (Open your eyes, people!)
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To: Pafreedom
17 trillion debt...17 trillion in IRAs. Any questions?

It aint for debt payment, its for redistribution. Some call it reparations.
48 posted on 06/06/2014 5:41:35 AM PDT by Old Yeller (Anything is possible, if you don't know what you're talking about.)
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To: tbw2

Interesting experiment. I kept a two dollar bill for my grandson. Whenever he brings a new friend over he always wants to show it to them since most have never seen one. Also have some pesos and some paper money from South Korea and Japan sent to me a long time ago by a military friend who served there. Gives them an opportunity to view other currency and for us to talk about exchange rates and other country’s money. Most think money from other countries is fake when they first see it.


49 posted on 06/06/2014 6:30:55 AM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Doomonyou
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50 posted on 06/07/2014 4:50:28 PM PDT by B4Ranch (Name your illness, do a Google & YouTube search with "hydrogen peroxide". Do it and be surprised.)
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