IRS provides Equifax a backdoor bailout after credit agency hack put over 100 million Americans data at risk
To show you just how corrupt the swamp in Washington is, the IRS last week gave Equifax a psuedo ‘back door bailout’ as the government agency provided the credit bureau a no-bid contract to…
secure data for the IRS’s taxpayer database.
It just doesn’t get anymore ironic than that.
Just hours after Equifax CEO Rick Smith wrapped up his testimony before the House Energy and Commerce committee ‚Äď the first in a series of Congressional ‚Äúfact-finding missions‚ÄĚ about the hack –¬†Politico reported that¬†the IRS last week awarded the disgraced credit monitoring bureau with a $7.25 no-bid contract even as the company struggled to address suspicions that it mislead investors and customers by withholding information about one of the most damaging data breaches in US history.
According to the terms of the IRS contract, Equifax would be responsible for verifying taxpayer identities and help prevent fraud under a no-bid contract issued last week.
As if the IRS’s decision to entrust the disgraced credit bureau with sensitive taxpayer data wasn’t galling enough, the agency seemingly fast-tracked the contract by classifying it as a ‚Äúsole source order‚ÄĚ ‚Äď a designation that allows the agency to circumvent the bidding process by claiming a given vendor is the only one capable of executing the contract.¬†However, the agency’s justification for this designation is baffling, considering that there are two other credit bureaus in the US that offer a nearly identical suite of services.
The notice describes the contract as a “sole source order,” meaning Equifax is the only company deemed capable of providing the service.¬†It says the order was issued to prevent a lapse in identity checks while officials resolve a dispute over a separate contract. –¬†Zerohedge
The IRS’s own track record on protecting data for the millions of Americans who pay taxes each year is suspect in their own right, especially following the revelations in 2013 that the¬†IRS illegally held back the confirmation¬†of conservative PACS (political action committees) during the 2012 election cycle.
The Federal government has morphed into a fascist model where corporate interests are the primary currency that politicians and government agencies cater to in their quest for power and dominion.¬† And whether it is the assigning of corporate executives to positions of power as head of agencies, or lobbyists for banks and other entities being the primary writers of most legislation, the fact that a criminal enterprise like Equifax can go from losing control over people’s vital data to now doing the same at the IRS is one of the big reasons why the American people no longer trust their government, and why politicians are scared to death that the people are finally waking up to their corrupt schemes.
Kenneth Schortgen Jr¬†is¬†a writer for¬†The Daily Economist,¬†Secretsofthefed.com,¬†Roguemoney.net, and¬†Viral Liberty, and hosts¬†the popular¬†youtube podcast¬†on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.