Posted on 06/05/2014 4:35:58 PM PDT by jazusamo
Diversity Police: Republicans are scratching their heads over the Obama regime's privacy-invading "National Mortgage Database Project." What's it for? That's easy: redistribution of wealth.
In an unprecedented federal intrusion, the president's most radical financial regulators — Mel Watt of the Federal Housing Finance Agency and Richard Cordray of the Consumer Financial Protection Bureau — are creating a massive discrimination database on as many as 230 million Americans.
It will encompass a mortgage holder's entire credit history — including credit scores and account balances — and all credit lines, from credit cards to student and car loans.
"Why are we collecting this amount of data on this many individuals?" asked GOP Rep. Randy Neugebauer of the House banking panel.
The key data that the agencies plan to collect involve "household demographics" — namely, "race/ethnicity." The database will be used to compare the credit outcomes of minority vs. white borrowers. Any statistical disparities will be used to make "disparate impact" bias cases against private creditors in a vast redistribution scheme.
The agencies even allude to this in their proposed rule, recently posted in the Federal Register and opened to public comment for just 30 days, half the normal time.
The FHFA and CFPB explain that they're going to use all these intimate details on families and their financial lives to "conduct research, performance modeling and examination monitoring." They're also going to share it with Attorney General Eric Holder, as well as state attorneys general and trial lawyers, to aid in their "investigations" of, and "litigation" against, the financial industry, which they've already shaken down for an estimated $100 billion since the mortgage crisis. Apparently, they're just getting started.
Then there are the privacy concerns.
(Excerpt) Read more at news.investors.com ...
Yep. For one thing, there are many ways to avoid excessive personal spending. The main way is to learn and practice as many useful technologies as possible (one example: alternative home energy with stealth considerations for security). Those who don’t receive much income and don’t buy much are legally avoiding generating big revenues. All a little off of the posted topic, though.
As for the topic posted above this thread, maybe some folks in government are considering some kind of partial debt repudiation deal for those headed for foreclosures. That was one of the issues for many Icelanders.
It’s best, though, to avoid mortgages and other debts. One can learn to build, repair and do many other money-saving projects for oneself. As for frivolous regulations, there are many legal ways around those for people who study, think and work enough.
I remember when this happened. Some guy tried it in Houston and it lasted about 10 minutes before he stopped that nonsense. Can’t you just imagine some of these fast food cashiers trying to figure out the exchange and conversion rate? They can’t even do it with dollars for dollars with their electronic computer.
My grandson bought something at BestBuy in Kansas. Next day a female with numbers same as his card spent $5,000 on clothes at The Gap in Minnesota. I was notified by text message of charges to his account since they were over $10. Talked with the people at The Gap and then called the credit card company with the girls name and driver’s license number. They credited his account immediately but said they wouldn’t prosecute the thief because it cost them too much money to do so.
So took his credit card from him and got him a rechargeable card which I put only $50 on at a time. Pain for me but a lot less hassle than trying to resolve it after the fact. And he is not allowed to buy anything from Best Buy unless it’s with his own cash.
That is amazing that some girl can buy $5000 worth of clothes (which is a lot of items at the Gap) and pay without a credit card! Since your grandson had not lost his card, did the thief make a fake card?
did the thief make a fake card?”
Yes she did have a fake card. Same numbers, same expiration date, same security code. Identical to my grandson’s except that it bore her name. She was Asian. Whomever did it is quick and thorough. I spoke on the phone with the manager of the Gap and she said everything looked very real and authentic, and the charge went through without a hitch.
Had to come from BestBuy though because that was the only place he had used the card in months and I had problems with them before but in Houston.
Credit card company removed all of the charge immediately so it was obvious they’ve been through this issue a lot of times.
I had a friend who worked at a bank in college. He deliberately requested a stack of two dollar bills and then took everyone to a fast food place to order off the dollar menu. Utter confusion, with threats to arrest him for trying to use counterfeit money. None of the clerks or even the manager had seen a two dollar bill.
That type of confusion or the ability to pass fakes only goes up with other currencies.
They are going to redistribute your good credit score to someone “needy.”
Interesting experiment. I kept a two dollar bill for my grandson. Whenever he brings a new friend over he always wants to show it to them since most have never seen one. Also have some pesos and some paper money from South Korea and Japan sent to me a long time ago by a military friend who served there. Gives them an opportunity to view other currency and for us to talk about exchange rates and other country’s money. Most think money from other countries is fake when they first see it.
>>I certainly hope the whiners of FR aren’t reproducing. <<
Disgusting bunch, aren’t they?
Good Stuff!
Pass it on to some straight thinking youngsters. They’ll be the ones who will need to know the tricks of the trade.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.