Skip to comments.Why Is Obama Stockpiling Your Personal Financial Records?
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 ...
Not everyone plays their silly reindeer games.
That will work until the other shoe drops. That being a currency change or an electronic currency system.
Exactly, and it's getting closer and closer.
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.
For your own good , of course
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.
That’s how they will take a percentage of every dollar that changes hands.
17 trillion debt...17 trillion in IRAs. Any questions?
And politicians still need to be able to hide their cash and transactions. That’s the problem. Holder’s working on that though.
Like credits from Total Recall ?
Pure insanity. How is this legal?
So sorry. No mas.
They still have that pesky "gun" thingy to deal with first.
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.
Theyre 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.
Have faith in the mule-headedness of less than perfect citizens. We'll find a way around the king.
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...