Electronic Transaction Reporting Slipped Into Senate Bill

StealthyRoid writes "The Senate mortgage bill proposed by Sen. Chris Dodd (who was the recipient of a sweetheart deal on his mortgage from Countrywide, one of the beneficiaries of the bill) includes an attempt to sneak into law a requirement that all electronic payment processors send detailed transaction data to the federal government. The proposed law contains an exception for businesses with fewer than 200 transactions or a total value less than $10,000. Quoting FreedomWorks chairman Dick Armey (former House majority leader) from the article: 'This is a provision with astonishing reach, and it was slipped into the bill just this week. Not only does it affect nearly every credit card transaction in America, such as Visa, MasterCard, Discover, and American Express, but the bill specifically targets payment systems like eBay's PayPal, Amazon, and Google Checkout that are used by many small online businesses. The privacy implications for America's small businesses are breathtaking.'" This is the same bill that contains a controversial provision to fingerprint all mortgage brokers.

Comments

Re:Won't come to pass anyway

[Jaysyn]

So that's *one* good thing that came from this administration.

Like Bill Clinton Said...

[Illbay]

..."I could lower your taxes, but you might not spend the money the right way."

This way, the government can make sure you're spending your money the "right way."

Re:Won't come to pass anyway

[GIS.thrills]

i was opposed to the bill till i saw this post

Re:You have nothing to fear!

[Stew Gots]

If a Republican is involved in anything that even might, maybe, sort-of, slightly, if-we-tweak-it-just-a-bit, appear improper, then thier name and party affiliation is shouted from the rooftops for weeks and weeks on end, even AFTER it is shown that the Republican in question was innocent, or that the issue in question was not illegal or unethical, maybe just slightly immoral.

What a load of rubbish. Is this new pathetic meme the Repugnants are trying to start? What, the laughable "liberal media" BS finally got shown for the crock it is so it is time to start waging a new campaign?

What a collection of nitwits. Fox News practically invented, but certainly perfected, the technique of not mentioning the Repugnant "brand" whenever things got so hot with one of their own that they couldn't avoid the story entirely.

Re:??? WTF?

[93 Escort Wagon]

I do commercial tax prep for an unnamed company, ...

Well that's really odd. Why don't they have a name? How do people look up your phone number or find your address?

Re:But...but...but

[Anomalyst]

Da Bush IS the incompetent root of all evil.
Look around you, the proof is indisputable.

Re:You have nothing to fear!

[magus_melchior]

Bush Derangement Syndrome: An Irrational fear of anything related to the George W. Bush presidency, and a tendency to blame everything wrong with the US Government, America, the World, and one's own personal life solely on G.W. Bush.

I haven't read GP's comment in question, but the Bush administration has done much to threaten America's rule of law, its honor (what's left of it since 1945) and good standing with the international community, and the rights of its citizens. My personal opinion is that Bush is Cheney's patsy, who was fooled into doing Cheney's will and now is committed to the point of no escape, so your point that he isn't solely responsible most likely stands. However, the reckless actions of the White House have been cause for concern and alarm for many people on the left, so any hysteria and paranoia there is understandable.

I would refrain from using such an exaggeration of logic ("everything wrong with... one's own personal life"), since that will easily be pointed out as a straw man.