3 ms·
> Do you also call it a "privacy disaster" when your bank account requires your name and address so they can report interest payments to the government? Or when
by barnabee 5y ago
> Do you also call it a "privacy disaster" when your bank account requires your name and address so they can report interest payments to the government? Or when Robinhood/Schwab/Vanguard/Etc send the IRS a list of all your stock transactions for the year in a form 1099?
Yes. Clearly.
My car doesn't keep an up to date record of my name and adress so it can report my position and speed to the authorities. Warrantless wiretapping is illegal in most (every?) form outside finance, and there's no justification for banks or investment firms being any different.
Governments have a right to make laws, they don't have a right to continuously monitor every citizen to enforce them.