How often we hear liberal democrats brag about their efforts to prevent violations of our civil rights — the Patriot Act, Wire Tapping — Edgar Hoover and the Evil Bush Administration, etc.
Well, now we have bills in congress such as the so-called Immigration Reform bill that proposes national ID Cards, and the Financial Reform Bill that gives the government unprecedented power to snoop into every detail of our financial affairs.
Senator Shelby points out that:
“The Democrats’ new bureaucracy poses a threat to our privacy,” Shelby said, “Under section 1022 of their bill, the new bureau would collect any information it chooses from businesses and consumers including personal characteristics and financial information.
“Individuals could be required to provide the new agency with written answers–under oath–to any question posed by the bureau regarding their personal financial information.”
This information along with all other information collected by federal financial regulators can be used by the Office of Financial Research to monitor the entire financial system for so-called systemic risk.
I guess my ATM withdrawals represent a potential “systemic risk.” Do yours?