It’s getting scary out there folks. We have GOT to get these lunatics out of office. – Poor Richard
Bailout Bill Would Require Banks to Track and Report Personal Checking Accounts to Feds
by Capitol Confidential
It’s amazing to watch the civil libertarians hide when Democrats propose the most sweeping intrusions of privacy in generations. In addition to the litany of bad policies contained in the Dodd Financial Reform bill is this nugget on pages 1039-1040.
In short, it extends government reach to every deposit account of every citizen.
Subtitle G of the Dodd discussion draft bill requires that records be maintained and reported “for each branch, automated teller machine at which deposits are accepted, and other deposit taking service facility with respect to any financial institution, the financial institution shall maintain a record of the number and dollar amounts of deposit accounts of customers.”
What’s worse, banks will be required to submit these records to the new super regulatory agency called the Consumer Financial Protection Agency (page 1041). The CFPA will be allowed to use this information for any purpose “as permitted by law” under CFPA rules—rules set by CFPA themselves.
So, lets get this straight—the law requires banks to snoop on its customers MOST PERSONAL INFORMATION and submit it to another government agency so it can be used anyway the CFPA see’s fit.
So, if the CFPA Czar see’s fit, information about your deposit account activity could be shared with the IRS, immigration officials, state officials, or any other entity that the Administration and their various Czar’s think beneficial.



















SIBYL WEST, EditorHeretical conservative, inquiring transcen- dentalist, western soul, eastern training.
GEORGE SCAGGS Freelance writer, commentator, and audio/video producer based in Austin, TX.
BARGAIN CITIZENJust another betrayed and abandoned average American.
JOANN FLEMINGChairman, Advisory Committee to the Texas Legislature’s TEA Party Caucus.
J.C.Vietnam veteran, 5th generation Texan, conservative activist.
ANGEL ABITUARetired government worker (38 yrs). Hispanic “community organizer”, grandpa, active member of AFP.
MICHAEL BARAM Former computer geek and retired corrections officer. Libertarian with a conservative cant.
NANCY COPPOCK Tea Party activist behind the virtual barbed-wire of American gulags because if you do the right thing you must be insane.