If you remember the post we recently did about the “new serfs,” well, below is a good example of this reality.
There is a bit of good news to report however. Because of the attention the New York Times brought to the FBI practice of seizing accounts of normal everyday citizens who just happen to deposit significant amounts of money, the FBI has said that it will end the practice of trolling for non-criminal dollars. Now it will focus its attention on going after actual bad guys.
That’s pretty nice of them.
(From The New York Times)
For almost 40 years, Carole Hinders has dished out Mexican specialties at her modest cash-only restaurant. For just as long, she deposited the earnings at a small bank branch a block away — until last year, when two tax agents knocked on her door and informed her that they had seized her checking account, almost $33,000.
The Internal Revenue Service agents did not accuse Ms. Hinders of money laundering or cheating on her taxes — in fact, she has not been charged with any crime. Instead, the money was seized solely because she had deposited less than $10,000 at a time, which they viewed as an attempt to avoid triggering a required government report.
“How can this happen?” Ms. Hinders said in a recent interview. “Who takes your money before they prove that you’ve done anything wrong with it?”
The federal government does…