It appears that Identity Theft has been way over hyped. Yet why? Well let’s follow the money? The Federal Trade Commission has a budget right? They have to employ a handful of really good economists and quite a few wannabe economists who think that every business merger is some sort of economic conspiracy an attitude, which has permeated the FTC’s existence for generations. Then the FTC has to higher thousands of Lawyers and has to pay them with taxpayer’s money to protect large companies since many of these companies are lazy, weak and inefficient while delivering inferior products and providing mediocre to lousy service.

The Federal Trade Commission is a complete sham, but will not admit it although those in the know say it is for the good of the economy due to these large employers financial stability. Besides Adam Smith predicted this might happen and so it is somehow okay? Go figure these wannabe academics accepting such hokum and carrying on as if it is okay to misrepresent Justice at the little DOJ agency; FTC.

The new disruptive innovative and entrepreneurial companies move too fast for the larger corporations and they need help from the government to protect them because executives who quite frankly are only capable of borderline piss-poor performance run these companies. Now then this is one reason that the FTC fraudulently over hypes the problems of Identity Theft. The other reason is they choose companies who sell services to larger companies to prevent identity theft who make money selling software and consulting.

The FTC needs budget monies from Congress and most prove their worth so they over hype the reality of the problems. Read any GAO report on the FTC for more knowledge of how all this budget stuff works.

So how bad is Identity Theft? Not as bad as you think, but all this hype over it is hurting online companies who sell stuff on the Internet as consumers have been mislead and fear using their credit cards online. And that is bad for e-commerce companies and really good for large box store retailers this Christmas Season. But do you think it is right for the FTC to scare the public, misrepresent truth and make people fear a reality that does not exist or do you think the agency should be closed and disgorged of their ill-gotten gains? Think on it, as it sickens me to think this is Truth, Justice and the American Way at work.