Congress votes to Bail out Fannie and Freddie, All Credit Card Transactions Will be Reported to the IRS
The housing bill was passed today on the United States House Floor, bailing out Fannie Mae and Freddie Mac. The US Treasury has been given complete discretion over unlimited buying of housing securities.
The US Treasury will have full authority to make these decisions, and Congress has given up its authority over the matter.
The National Debt limit was increased by an additional $800 million as part of this bill.
In addition, all citizens who are involved in the mortgage industry will require to be finger printed.
Finally, slipped in towards the bottom of the 600 page document, is that all credit card transactions will now be reported to the IRS.
I encourage you to watch the video here for more details: http://www.house.gov/paul/index.shtml
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