Protection requires surveillance and the collection of data to be used as evidence in potential enforcement actions.... shocking! ... who knew!?
The Consumer Financial Protection Bureau (CFPB) is looking to create a "Google Earth" of every financial transaction of every American, Sen. Mike Enzi (R-WY) warned today in a Senate speech opposing confirmation of Richard Cordray as CFPB director.
"This bill (creating the CFPB) was supposed to be about regulating Wall Street. Instead, it's creating a Google Earth on every financial transaction.
That's right: the government will be able to see every detail of your finances. Your permission - not needed," Sen. Enzi said.
More libertarian paranoia at CNS News where these libertarians think due process never requires the presentation of evidence but instead I guess think justice should run in a fashion similar to the old Salem Witch Trials.
This is rich where this Senator asserts: "The government will be able to see every detail of your finances...".
What do you think the Federal Reserve System basically does everyday right now moron?
I guess put this libertarian down as delusional and thinking the FRS is "private" and not our U.S. Treasury's designated fiscal agent.
12 comments:
If the Federal Reserve is the government's agent then it is violating "Equal Protection under the Law" by lending to banks at low interest rates and not to all citizens at the same rates.
Matt, Enzi is a conservative, not a libertarian. There is a significant difference between the two ideological camps. Nevertheless, believe it or not, concern regarding governmental mass surveillance is not just a libertarian concern, as you seem to imply. Left, right and center (perhaps for differing reasons) all express major reservations over data collection, especially pertaining to the unconstitutional variety, of which no small amount accrues..
Mal,
yes there is the political compass that has the 4 quadrants...
There are libertarians of the left and the right.... I guess this guy is a right-libertarian (Ron Paul type...)
many on the left want better consumer financial protection but are against "surveillance" generally as well... so I dont see how you can have the one without the other...
Unless you just want to run a witch trial with no evidence when problems surface... this is where the libertarianism leads ultimately...
This guy sounds like he doesnt even understand how the current arrangements already operate...
rsp,
I don't think that anyone paying attention to technology does not realize full well that technological innovation is going to result in less privacy. The loss of privacy bothers some older people, but most younger people accept as a consequence of social media, for instance, and younger people especially are willing to pay a price in lack of privacy.
The issue is how the information is gathered and processed, how long it is stored, how it is used, and what oversight and accountability are in place. That should not be privately held information, and if some needs to be, then there needs to be oversight and accountability.
With the level of secrecy that is now operative, both governmental and corporate, no one knows these this.
Reports like Manning's and Showden's are not encouraging of trust — not to mention many other whistleblowers, including some that have been gagged
The US government is blowing it big time with its own people and with foreign govts as well. American soft power is eroding as a result and as soft power diminishes, what is left is hard power, as the world saw in the brutal repression of Occupy coordinated by DHS, the domestic militarized secret police.
"If the Federal Reserve is the government's agent then it is violating "Equal Protection under the Law" by lending to banks at low interest rates and not to all citizens at the same rates."
F. Beard - Bravo!
Tom,
These are people who literally think we are borrowing from the Chinese for crying out loud... come on...
They dont even know what you are talking about.
Perhaps you could make a case for 'negligence'...
rsp,
Matt - Just because I'm paranoid doesn't mean that I don't have enemies. ;-)
The Senator's comment is very exaggerated. These data collection activities were mandated by the Dodd Frank act which has become law. The R's are just mad that they couldn't kill the reforms when they had the chance. Sen Enzi's floor speech on Tuesday was just a last ditch attempt to prevent the bureau from having a confirmed director. He failed.
"The issue is how the information is gathered and processed, how long it is stored, how it is used, and what oversight and accountability are in place. That should not be privately held information, and if some needs to be, then there needs to be oversight and accountability."
Well put, Tom.
I just don't see how any person of even average intelligence can't see how self evident it is to be concerned over unchecked and unaccountable government surveillance. I don't give a hoot who the messenger is who's sounding the warnings. I'm only concerned with the accuracy of the claims. Getting hung up on so called ideologically impure people is, quite frankly, utterly self defeating.
Matt, just because someone is wrong about something important, it does not follow that they are wrong bout everything that is important.
Just,
Right, he could be playing on these "surveillance" fears in an effort to get the program killed which would lead to better consumer protection.... thats a possibility for sure...
rsp,
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