HR 3221 has a neat little provision that (apparently Sen. Chris Dodd put in) to help the government find new money to spend. They are gonig to require any payment facilitator in the US to provide reporting to the federal government that exceeds $10,000 in a year. Sweet, so they can keep yet another database that some monkeys have access to with all of our personal financial data in? How about all of the merchants that have SSNs and EINs? They need all of this…I don’t think so. Figure out how to spend what you have and not tax the people you are supposed to be serving. The best part is that HR 3221 is little more than window dressing when it comes to trying to help homeowners and the real estate market in general. Check with the guys on Wall St. who were peddling the CDOs and work your way down.

The text of HR 3221.