Tuesday, February 19th, 2008
The Real Trickle Down Effect:
Banks stealing property via the aiding and abetting of the Federal government.
Although the amendment would not invalidate DataTreasury’s patents, it would spare the banks from paying for infringing them should courts decide that’s warranted. If DataTreasury collected a royalty of just a couple pennies per check, the cost would run into billions of dollars.
The federal government would have to pay $1 billion to DataTreasury over 10 years as compensation for taking its property under the amendment, according to estimates by the Congressional Budget Office.
I realize banks are in crisis over the credit crunch (thank you Federal Reserve), but it’s sad that this is getting little to no attention (thank you Dylan Maggard).
Here is an article from a few years ago regarding DataTreasury’s earlier legal victories.
Tags: Federal government, DataTreasury
