Strike The Root: Banks get cozier with Big Brother

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October 01, 2003

Banks get cozier with Big Brother

Our central banking system has played a huge role in aggrandizing government by monetizing its debt. Now it will help government even more by keeping detailed information on its customers, thanks to the obscenely-named Patriot Act.

Posted by George F. Smith at October 1, 2003 08:25 PM

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Never fear, though: It's all in the interest of protecting us from terrorists; and besides, it was put in place by Republicans, so it must be okay. "The task is estimated to cost some small banks as much as 20 percent of profits and is time-consuming." That has to be good for the banks and their customers, stockholders, and employees. How many people will be laid off or not hired as a result of this drain? How many stockholders will see smaller dividends? Then again, when has the government ever cared what damage it was doing to businesses, especially if it can couch that damage in the guise of "national security" so that conservatives will buy into it? Remember Hillary's comment about not being responsible for every undercapitalized business in America (when it was pointed out that her health care takeover would bankrupt many of them)? It seems the Bush administration has copped the same attitude.

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