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Spitzer investigation should raise concerns for all Bank Customers
The Atlanta Journal-Constitution
I am not particularly a fan of soon-to-be-ex New York Governor Eliot Spitzer; nor do I comment at this point on his guilt or innocence. However, the manner in which he was investigated, wiretapped, and then targeted for further investigation should concern every American who maintains one or more bank accounts. As the Spitzer story has unfolded, it appears that because he transferred his own monies in his own bank accounts for his own purposes, but in a manner that raised suspicions of bank employees and might have run afoul of the complex web of reporting requirements that now overlay and enwrap all banks and financial transactions, his personal money transfers were reported to the IRS, and his phone conversations then surreptitiously monitored by government agents.
One day you’re simply transferring some funds from one account to another, or wiring some money to someone overseas; the next day, you’re being investigated and your calls monitored.




DEL.ICIO.US
Comments
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By Jen
March 14, 2008 7:51 AM | Link to this
I’m as liberal as they come, okay? And I also think Silda should have turned on ole-Elliot-the-worm-who-sleeps-with-women-his-daughter’s-age and beat the living crap out of him on live TV, yeah.
But this is scary stuff…here is an AMERICAN being spied on.
There you go, Mr Bush - here’s your terrorist. Oh, here’s a marriage terrorist so that make’s it okay?
Oh, wait, it’s because he MIGHT have been laundering money, maybe not even HIS, that makes this okay?
NO! This is an invasion of privacy and the removal of personal freedom.
And people say it’s liberals like me who are ruining this country!
SPIT!
By Larry J
March 14, 2008 8:01 AM | Link to this
Let’s see.
The federal government was investigating the men who ran the Emperor’s Club VIP, which was in essence a prostitution ring. Prostitution is illegal, right?
Eliot Spitzer was soliciting prostitutes, correct?
Criminal activity deserves to be caught.
It’s like I always say. People cry, “Oh my God, they’re listening to our phone calls.” No, they’re not. They aren’t worried about you calling Grandma every Sunday or calling your girlfriend/boyfriend for phone sex late at night.
They’re worried about people committing crimes.
If you aren’t committing a crime, you have nothing to worry about. Why that is so difficult for some people to understand, I will never know.
By jct
March 14, 2008 8:05 AM | Link to this
I was speaking with a colleague about this same subject on yesterday. What I would like to konw is how many transfers to your own accout and how much money does it have to be to alert the IRS? From my understanding, the transfers were below the IRS limit. When did it become suspicious?
Call girl issue aside, this makes my stomach crawl. When are we as a people going to wake up and realize there is an attack on our privacy? Where will this end?
By Jen
March 14, 2008 8:35 AM | Link to this
Larry J - you must love Big Brother.
By Jen
March 14, 2008 8:53 AM | Link to this
“If you aren’t committing a crime, you have nothing to worry about. Why that is so difficult for some people to understand, I will never know.”
It’s mindsets like this - that Government is God and you are here by the grace of the Government - that scare me.
I mean, don’t question Government, don’t challenge it, don’t change it, and by all means, trust it…
NOT. You might as well turn in your brain now because you’re not using it.
Government is what we ALLOW it - not the other way around.
By john
March 14, 2008 9:25 AM | Link to this
I just love people foaming at the mouth about Bush and terrorists over this. Get a clue, these laws and rules have been on the books for sometimes decades.
They investigated someone that made $1.9 million last year for moving his money around, when he comitted no crime. I imagine he kept the transfers below the $10,000 reporting limit, so basically they violated his expection of privacy without cause.
Have these reporting laws and guidelines stopped or even hindered drugs, the original intent?
Have they stopped illegals (pick the unmentioned option #9 from the BOA 1-800 menu) transferring money out of the USA?
Made the IRS more money, yes, return the money into the coffers and lowered taxes, no.
Totally worthless invasion of privacy and decreasing our rights as citizens.
By libertybell
March 14, 2008 9:52 AM | Link to this
It is despicable what Spitzer did. After all, he staked his reputation on being the tough on crime guy, so he should face any legal consequences that flow from purchasing services from the escort service.
However, it is also awful that Americans have allowed this so called war on terrorism to infringe on our privacy rights and civil liberties. Moving small sums of cash from one account to another now makes you guilty until proven innocent, and let’s face it, 4,000 is not a lot of money if you are a millionaire, or even make 6 figures a year.
Hopefully Americans will understand that this is a wake up call for us to demand that our elected representatives stop this wave of legislation that has destroyed our right to freely do banking, check out books from the library, call our friends on the telephone, and yes, even use the internet to do such tasks as post blogs without fear that Big Brother is watching us.
By ill bred
March 14, 2008 11:37 AM | Link to this
I used my debit card at the $1 menu at McD’s. The next day a CIA agent came to my home and wanted to know where the Hamburgler was.
Somehow, that just t’aint righteous.
By To Larry J
March 14, 2008 12:04 PM | Link to this
Written like a true KGB agent, comrade.
By Buzzer
March 14, 2008 12:12 PM | Link to this
Seems like everyone has been hiding for the last 40 years. Every transaction that is over 10K is reported incase of fraud or money laundering. So, it has always been happening. The AJC is using fear again. What if the transfer identified terrorists ready to blow up Atlanta and they were caught transferring money - Would you complain? Stop the wining - Defending your country has a price and we have not even begun paying the price. Just talk to a WW2 vet, assujming you know about WW2.
By Buzzer
March 14, 2008 12:14 PM | Link to this
Seems like everyone has been hiding for the last 40 years. Every transaction that is over 10K is reported incase of fraud or money laundering. So, it has always been happening. The AJC is using fear again. What if the transfer identified terrorists ready to blow up Atlanta and they were caught transferring money - Would you complain? Stop the wining - Defending your country has a price and we have not even begun paying the price. Just talk to a WW2 vet, assujming you know about WW2.
By Buzzer
March 14, 2008 12:14 PM | Link to this
Seems like everyone has been hiding for the last 40 years. Every transaction that is over 10K is reported incase of fraud or money laundering. So, it has always been happening. The AJC is using fear again. What if the transfer identified terrorists ready to blow up Atlanta and they were caught transferring money - Would you complain? Stop the wining - Defending your country has a price and we have not even begun paying the price. Just talk to a WW2 vet, assujming you know about WW2.
By Buzzer
March 14, 2008 12:15 PM | Link to this
Seems like everyone has been hiding for the last 40 years. Every transaction that is over 10K is reported incase of fraud or money laundering. So, it has always been happening. The AJC is using fear again. What if the transfer identified terrorists ready to blow up Atlanta and they were caught transferring money - Would you complain? Stop the wining - Defending your country has a price and we have not even begun paying the price. Just talk to a WW2 vet, assujming you know about WW2.
By buzzer
March 14, 2008 12:19 PM | Link to this
For all those winers about freedom for banking. How do you suggest we catch the terrorists? Have you used your kroger frequent shopping card lately. they know everything you have eaten since you first started using it. You want freedom from that too?
Liberybell - He paid $4K for the hooker, not the transfer. You guys scare easy. If you want something you have to pay for it.
By buzzer
March 14, 2008 12:22 PM | Link to this
For all those winers about freedom for banking. How do you suggest we catch the terrorists? Have you used your kroger frequent shopping card lately. they know everything you have eaten / used / # of toilet paper rolls you bought etc. since you first started using it. You want freedom from that too?
Liberybell - He paid $4K for the hooker, not the transfer. You guys scare easy. If you want something you have to pay for it.
By Tim
March 14, 2008 12:32 PM | Link to this
Buzzer
There is an old saying,” Those that are willing to trade freedom for safty deserve neither”. Don’t be so blind as to miss the point. When you start to give away your freedom for WHATEVER, the slope is much to slippery to stop the slide. There really is a cost for freedom, by our rights are to high a price to pay!!!
By One
March 14, 2008 12:43 PM | Link to this
There really is a cost for freedom, by our rights are too high a price to pay!!! I am constantly amazed at how many folks are so trusting of our corrupt government (and yes, it has been that way since the beginning)!! Blind sheep……….
By HAROLD USHER
March 14, 2008 1:55 PM | Link to this
MR. BARR, MAYBE YOU SHOULD HIDE YOUR MONEY SOME OTHER PLACE, LIKE UNDER YOUR MATRESS. I DON’T HAVE ANYTHING TO HIDE SO THE GOVERNMENT ISN’T LIKELY TO INVESTIGATE ME FOR MONEY LAUNDRY ACTIVITIES.
By libertybell
March 14, 2008 2:11 PM | Link to this
Buzzer- you may be willing to forsake your liberty interests, but don’t take the rest of us clear thinking folks down with you.
By Robert
March 14, 2008 2:59 PM | Link to this
I thought the Bank contacted IRS when Spitzer attemted to have his name removed from the transation,not because of the amount of the transfer!
Robert