Obama Says You Have No Right to Banking PrivacyThe Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens Reuters. Big banks get away with massive fraud, laundering money for drug cartels and terrorist organizations, while average citizens are guilty of financial crimes until proven innocent. The land of the free no longer. Yesterday the White House released plans that would give all U.S. spy agencies access to the financial records of all American citizens in order to better track down terrorist threats, which administration legal experts say is permissible under U.S. law. What happened to The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated? Thats the Fourth Amendment in the Bill of Rights in case Obamas legal team needed a reminder of actual U.S. law. Reuters reports: The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters. The proposed plan represents a major step by U.S. intelligence agencies to spot and track down terrorist networks and crime syndicates by bringing together financial databanks, criminal records and military intelligence. The plan, which legal experts say is permissible under U.S. law, is nonetheless likely to trigger intense criticism from privacy advocates. Financial institutions that operate in the United States are required by law to file reports of suspicious customer activity, such as large money transfers or unusually structured bank accounts, to Treasurys Financial Crimes Enforcement Network (FinCEN). Reuters readily admits that the FBI already has access to the financial records of Americans but the NSA and other intelligence agencies feel disadvantaged as they have to apply on a case-by case basis to view private banking records. For these reports to be of value in detecting money laundering, they must be accessible to law enforcement, counter-terrorism agencies, financial regulators, and the intelligence community, said the Treasury document given to Reuters. So this new plan is to essentially make the FBI share the data they have with other agencies. Theres been no change in regards to the U.S. government being able to track, trace, and database all of your financial movements because they can already legally do that. Thats why Obamas lawyers say its permissible under U.S. law. One of the real pushes from the civil liberties community has been to move away from collection restrictions on the front end and put more limits on what the government can do once it has the information, he said. In essence, law professors say its settled law that youre guilty until proven innocent in America. Every spy agency in the country can now have access to your credit card invoices, mortgage payments, account numbers, and bank transactions whether you are suspected of committing a crime or not. And if you are suspected of committing a crime, youll be punished without due process like a terrorist because that is the justification for trolling for your suspicious behavior in the first place. Meanwhile, your tax dollars are being used to bail out the real financial criminals who defraud you, the government, and the public everyday. How does it feel to be a slave? Read Other Articles by Eric Blair Here 