Bailed-out banks' temper tantrum

  • Thread starter Thread starter Guns Guns Guns
  • Start date Start date
\(\()/)/ said:
Because a new law limits the amount Bank of America can squeeze out of small businesses via debit card transaction fees, the bailed-out bank is going to charge customers a $5 a month fee for using their debit card.

They're not alone.

Other banks already charge fees, and others are planning to.

Consumers can always vote with their feet.


http://www.foxnews.com/politics/2011/09/30/durbin-slams-bailed-out-bank-america-over-new-debit-fee/
Click to expand...

Its all a big scam for the consumers to compensate for the wealthy investors that took a hit on the housing crisis.

Already the middle class and small businesses are paying the bulk of income tax(regardless of the lies they tell you), where the rich investors are all paying next to nothing.

How they expect to sustain the economy with the deficit increasing and continued tax breaks on the rich is puzzling to me. I guess the bottom consumer is going to continue to get the shaft via, taxes, consumption and inflation.....
 
Conservatives would argue that this proves the futility of regulating business, wouldn't they?
 
\(\()/)/ said:
Conservatives would argue that this proves the futility of regulating business, wouldn't they?
Click to expand...

Conservatives have been fed so much mis-information they wouldn't know the truth if it was in front of them. For Capitalism to actually work, the gov MUST keep the companies in check. But since the corps donate(Bribe) members of government, the corps are now above government and the gov bends over backwards for them. They've even convinced an entire party to kiss their butts. They complain that the corporations are taxed too much and that is why they want to leave. But the reason the want to leave is for cheaper labor which equates to higher profit margins.

Do you know why other countries dont have America's high taxes? THEY DONT HAVE AMERICA'S HUGE DEBT!! A debt that the rich help accumulate by over charging the government on everything and all the tax exemptions and breaks. Now they want to bail out on their responsibility to pay the debt back! How unpatriotic! They want to leave the Americans the tab. The Americans that are responsible for their wealth. And export America's wealth and jobs right out of the country. While the politicians(who also profit) stand by and do nothing but actually encourage it. Shameful!
 
Last edited:
Many conservatives would say other countries' situations are irrelevant in a discussion of American policy, wouldn't they?


Isn't it a bedrock principle of conservatism that businesses and the economy are only hurt by governmental attempts to regulate coporate behavior?
 
\(\()/)/ said:
Many conservatives would say other countries' situations are irrelevant in a discussion of American policy, wouldn't they?


Isn't it a bedrock principle of conservatism that businesses and the economy are only hurt by governmental attempts to regulate coporate behavior?
Click to expand...

Its all relevant. Yes it is a false conservatism belief perpetuated by the guys that profit most from lack of government regulation. Little do they know they are shooting themselves in the foot.

Right now the Gov should be cracking down on these oil companies who are price gauging(especially gasoline)! The people should be screaming at the top of their lungs. And if the president isn't willing, all though he does have the power, we kick him out and put someone in that can! Even nationalize the oil companies if we have to!

I must go now but I will be back.
 
wiseones2cents said:
Its all relevant. Yes it is a false conservatism belief perpetuated by the guys that profit most from lack of government regulation. Little do they know they are shooting themselves in the foot. Right now the Gov should be cracking down on these oil companies who are price gauging(especially gasoline)! The people should be screaming at the top of their lungs. And if the president isn't willing, all though he does have the power, we kick him out and put someone in that can! Even nationalize the oil companies if we have to! I must go now but I will be back.
Click to expand...

When/if you return, it would be nice if you could provide some evidence to support your viewpoint.
 
David St. Hubbins said:
You assume that Bank of America's customers will put up with this shit. This one ain't.
Click to expand...

If enough consumers exercise that choice in the free marketplace and BOA has to lay off employees as a result, won't the conservatives claim that government intervention killed jobs?
 
SmarterThanYou said:
what more proof would you need besides this article?
Click to expand...

Are you saying the law should be repealed, so banks will be (again) free to charge increased fees to merchants, who will transfer their increased costs to consumers - in the form of higher prices??
 
\(\()/)/ said:
Are you saying the law should be repealed, so banks will be (again) free to charge increased fees to merchants, who will transfer their increased costs to consumers - in the form of higher prices??
Click to expand...

the only thing that should be regulated with business' in this regard is to make sure there is no collusion between enterprises to deny consumers any choice. The sherman act was made for a reason, use it.
 
SmarterThanYou said:
the only thing that should be regulated with business' in this regard is to make sure there is no collusion between enterprises to deny consumers any choice. The sherman act was made for a reason, use it.
Click to expand...

So the FED and FDIC should be abolished, and bankers should be free to operate in any manner they choose, as long as they don't violate the Sherman Antitrust Act?

Who would police the banks' compliance with the Act in your ideal scenario? The banks' executives?
 
\(\()/)/ said:
So the FED and FDIC should be abolished, and bankers should be free to operate in any manner they choose, as long as they don't violate the Sherman Antitrust Act?

Who would police the banks' compliance with the Act in your ideal scenario? The banks' executives?
Click to expand...

Who polices them now? They do a wonderful job
 
\(\()/)/ said:
When/if you return, it would be nice if you could provide some evidence to support your viewpoint.
Click to expand...


Evidence of price gauging??Look at the price of gasoline at the pumps. They used all kinds of excuses to justify it but none add up. For example...They say supplies are low. Canada has enough oil to supply all of North America for centuries. And they continue to find more oil everyday. The Americans say that the enviros preventing them from drilling are the culprits. They say increased drilling will bring prices down. Well.....Canada has increased output and it isn't coming down. Why? Its going to China.....Then they say its currency. Canada's currency jumped over 30-40 cents a dollar. Have you seen the difference at the pumps? Not at all. It keeps going up.

Notice that most of the price increases have nothing to do with supply but with speculation. Usually because of war or some sort of disaster. They go up but the dont go down.

Then you hear OPEC saying that even when they increase output, the prices remain the same at the pump. Therefore it has to be the oil companies.

There was once an oil monopoly in America in the 20's. Standard oil. The people complained, the government had them break up the company into 30+ companies. Later those companies started to merge again with two leading the pack. Exxon and Mobile. They then merged to form Exxon Mobile. Having a verge large piece of the market. that can explain how they freely price gouge. There is not much competition anymore in America.

What ever happened to the Sherman act to stop monopolies and cartels? Companies seem to be merging and setting up huge corps that there is no competing against. I guess the Americans got what they wanted. No gov regulation. But they seem to be moving towards communism, not capitalism, where a small group of elites(Oligarchs)run the entire economy.

There is so much more I want to say........
 
wiseones2cents said:
Evidence of price gauging??Look at the price of gasoline at the pumps. They used all kinds of excuses to justify it but none add up. For example...They say supplies are low. Canada has enough oil to supply all of North America for centuries. And they continue to find more oil everyday. The Americans say that the enviros preventing them from drilling are the culprits. They say increased drilling will bring prices down. Well.....Canada has increased output and it isn't coming down. Why? Its going to China.....Then they say its currency. Canada's currency jumped over 30-40 cents a dollar. Have you seen the difference at the pumps? Not at all. It keeps going up. Notice that most of the price increases have nothing to do with supply but with speculation. Usually because of war or some sort of disaster. They go up but the dont go down. Then you hear OPEC saying that even when they increase output, the prices remain the same at the pump. Therefore it has to be the oil companies. There was once an oil monopoly in America in the 20's. Standard oil. The people complained, the government had them break up the company into 30+ companies. Later those companies started to merge again with two leading the pack. Exxon and Mobile. They then merged to form Exxon Mobile. Having a verge large piece of the market. that can explain how they freely price gouge. There is not much competition anymore in America. What ever happened to the Sherman act to stop monopolies and cartels? Companies seem to be merging and setting up huge corps that there is no competing against. I guess the Americans got what they wanted. No gov regulation. But they seem to be moving towards communism, not capitalism, where a small group of elites(Oligarchs)run the entire economy. There is so much more I want to say........
Click to expand...

Is there anything you'd like to say that you can substantiate?

BTW, it's "gouging", not "gauging", isn't it?

Check with SmarterThanFew re: The Sherman Antitrust Act. He said it's the only thing that should be regulated with businesses in this regard is to make sure there is no collusion between enterprises to deny consumers any choice.
 
You must log in or register to reply here.
Back
Top