Today the mainstream media enthusiastically announced the passing of legislation to rescue many who are facing foreclosure. A Democrat triumph, a compassionate and heart-felt (and election year) program that may help many keep their homes even in the face of difficult economic times (and incredibly poor personal financial planning). Though obviously the real point is not the rescue of people but an industry and financiers of the industry.
What the media is not reporting, enthusiastically or otherwise, about this nearly 600 page piece of classic liberal legislation is the following:
It mandates all mortgage industry workers be finger-printed.
It mandates all of YOUR credit card transactions be reported to the IRS.
It mandates that the federal debt ceiling be raised by 800 billion dollars.
So, once again and ‘as always,’ your congress uses a trojan horse to smuggle in further erosions of your personal liberties while further weakening the dollar.
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1 comment:
Wow. I had no idea. That's bad--the credit card and national debt parts. Everybody in my industry already has to be fingerprinted, so why not the mortgage brokers? ;) Seriously though, there was a lot of funny business going on in the third party broker channels. Although, I don't know how fingerprinting them would keep them from doing the things they did...
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