Wednesday, May 28, 2008

Housing bailout bill creates national fingerprint registry

I want to make three things very clear:

1. I'm not in favor of any more "Big Brother" legislation.

2. I have nothing to do with the mortgage business including not even having a mortgage.

3. My fingerprints have been on file with the federal government for many years because I worked for a defense contractor, obtained a concealed gun permit and a firearms sales license.
The Senate housing bill approved by a committee this week was already drawing fire from fiscal conservatives and financially responsible homeowners opposed to bailing out housing speculators.

Now it may be time to add privacy advocates to the chorus of voices urging President Bush to veto the bill, which could put taxpayers on the hook for billions of bailout dollars in new taxes or deficit spending.

Buried in the text of the revised legislation, approved by the Senate Banking Committee by a 19-2 vote this week, is a plan to create a new national fingerprint registry. It covers just about everyone involved in the mortgage business, including lenders, "loan originators," and some real estate agents.

Note: Headline links to source.



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