Housing Bill Passes, Draconian Provisions Not Taken Out

I warned everyone in an earlier post, so here is what actually passed and gets no coverage in mainstream press or blogs:

• A provision to increase the national debt ceiling by $800 billion.
  
• While this bill is often referred to in the news as a “$25 billion” plan, the final amount will likely be much, much higher. The Treasury’s previously limited $2.5 billion line of credit to Fannie Mae / Freddie Mac has instead been increased to unlimited. The Treasury can now buy an unlimited amount of Fannie / Freddie housing securities and stock.
• In yet another example of persistent, big brother, big government, police state creep, anyone working in the mortgage industry will now be required to be fingerprinted.
• Finally, buried deep within the bill, is the provision that every credit card transaction will now be reported to the IRS. How this fits in to the housing crisis is anyone’s guess.