Do we want the Govt to regulate our income ?

[bergall]

abso-frakkin-lutely ridiculous....and this puke flowing from the mouth of the leader of the free world....

http://nation.foxnews.com/president-...ation_20111004

[ipscshooter]

Anyone who votes for him again is a traitor or an imbecile. Can't think of any other explanations at this point...

[bergall]

This sort of stupidity is actually inflammatory.

[bigbulls]

The bank has come under a hail of criticism after it announced it would begin charging debit card users $5 a month, blaming the move on policymakers who curbed the amount of fees they could collect from retalers.

The way I understand it, The banks put up the money to invest in the development of a system that allowed the stores to accept debit cards and credit cards at the register. They approached Walmart and Home Depot and others to use this new system in their stores. For the convienience of using this system, the stores agreed to pay the banks a certian percentage of the total transaction because it would attract more customers and allow them to process more transactions in a given time frame thus making the stores more money. The banks would obviously make more money as well.

Now, after the system has been in place for years some bean counter for Walmart looked at how much they were paying the banks over the course of a year in these transaction fees and cried foul, even though Walmart agreed to these transactions with the banks. Walmart then lobbied the government to get involved to stop the banks from charging them this fee or at least limit the ammount they could charge. I forget the womans (lobbyist) name from Walmart but she use to work with or for Dick Durbin. She lobbied Dick Durbin and he snuck in a little piece of legislation in one of the latest bills (I forget which one) that does just this very thing. Now Walmart is happy because they aren't loosing money paying the banks these fees. Unfortunately the banks are now going to loose money because of this so it has to come from somewhere. Guess where..... Joe Customer.

Now we have Obama telling us that banks can't make a profit and he is going to limit their profits.

This man is a treasonist traitor himself and his regime are a bunch of domestic terrorists if there ever were any. He (they) are hell bent on the complete collapse and destruction of this country. Most people are way too damn stupid to know any better and those of us that do actually get it and see him for exactly what he is are labeled as crazy lunatics

[Fieldmouse]

Hmmm, starting to sound like Hitler maybe.

[bergall]

Well, certainly Fascists which, the left will never admit, come from the left, further than even socialists. THey will revert to fascism when the American people reject their policies...or they will try to.

[sachiko]

President Obama joined fellow Democrats in blasting a new fee on debit card users announced by Bank of America, arguing that banks do not have an "inherent right" to a certain amount of profits.



Read more: http://nation.foxnews.com/president-...#ixzz1ZwNezYkS

What incredible arrogance!

Vladimir Illich Ulyanov would be very proud of his disciple.

[Champlain Islander]

It is nothing more than capitalism and free markets. If Bank of America raises the costs associated with bank cards people have an option to drop them and go with a bank that charges lower rates. Just like with credit cards if yours raises the interest rate shop around and get another at a lower rate. Businesses that lose customers fail. It won’t take long for them to understand that especially if few of the other banks jump on that band wagon. To regulate profits out of free enterprise smacks of socialism and its big cousin communism. The end result of government meddling would certainly be higher banking costs down the road.

[bigbulls]

It is nothing more than capitalism and free markets. If Bank of America raises the costs associated with bank cards people have an option to drop them and go with a bank that charges lower rates. Just like with credit cards if yours raises the interest rate shop around and get another at a lower rate. Businesses that lose customers fail. It won’t take long for them to understand that especially if few of the other banks jump on that band wagon. To regulate profits out of free enterprise smacks of socialism and its big cousin communism. The end result of government meddling would certainly be higher banking costs down the road.

Yes it is...... But thanks to Walmart and other retailers the government is meddling in what started out as a private business contract between the banks and the retailers.

Dick Durbin, remember he pushed this law through the back door, also got a $5000 political donation from Walmart's political campaign fund. Donations totaled more than this from other retailers.

http://www.bloomberg.com/news/2011-0...rd-battle.html

[Fieldmouse]

But bigbulls, the democrats look out for the little guy. They are better off now by paying that $5 a month now. They are saving $20 in the store.