"ignorance is bliss". This is what Durbin was counting on. Agree that
financial reform was badly needed, however, to be naive or ingorant enough to
create an amendment attached to the financial reform legislation where there
clearly was not sufficient due diligence performed is nothing short of reckless.
This never was a "play" for the consumer. Had Durbin and staff
performed their due diligence, they would have realized this. There is clearly a
lack of education on the original purpose of 'interchange'. Expenses, cost of
funds, float.....clearly terms outside of Durbin's wheelhouse. Again, for Durbin
to take advantage of the American public and mislead them on the outcome of his
amendment during one of the worst economic downturns is nothing short of
"So how are Republicans able to get middle-class people to vote against
their own economic self-interest?"This is what logicians call
"begging the question." Here, the question begged is the assumption
(focus on the first three letters, please) that Democratic policies, in fact,
benefit the middle class -- as opposed to specific Democratic constituencies.
For some odd reason, the wonderful programs they propose always seem to phase
out about ten bucks below whatever my own income happens to be. I'm starting to
think they're using me as some kind of index. The taxes Democrats
sell as intended for only "the rich," have a nasty habit of trickling
down the brackets to bite the middle class. As quite a few people in
high-cost-of-living states who contribute heavily to charity (that is,
conservatives, who are as free with their own money as liberals are with
others') find out when they first have to ask their tax planner "hey,
what's this AMT thing?"
For the record, I can't stand BofA, and switched to Wells long ago. The sooner
the overleveraged, bailout-slurping zombie admits to its insolvency and is given
a quiet burial, the better. Still, this made me smile:"Bank of
America the nations largest bank has gone a second year in a row paying
absolutely no federal corporate income taxes."Well, *yeah*.
When you *lose* two billion dollars in 2010, you don't pay income taxes in 2010.
Income taxes requires you earn, well, *income*.
Re: "banks are making record profits" --Just to be clear,
are you saying that bank profits are higher this year than they have ever been?
In either constant or nominal dollars?And, being an honest man,
you'd change your mind if someone were to show you that your opinions were based
on mistaken facts?
"Its infuriating to see bankers who were rescued by taxpayers now moan
about regulations intended to prevent the next bail-out."Key
word there is "intended." Because to a liberal, as long as your
intentions are good, the unintended consequences don't matter.Every
time there's an economic muck-up, there comes a whole new raft of regulations
designed to make sure It Never Happens Again. Of course it never works.
Business just finds all sorts of brave new ways of hashing things up, leaving
the old regulations standing as monuments to futility.What do they
say about generals always planning to fight the last war? Same thing.Case in point: The thumpingly expensive Sarbanes-Oxley legislation was passed
after the dot-com bust. Yet here it came, right on the roughly seven-year
boom/bust cycle that dates back to Joseph in flippin' Egypt -- a brand new bust
that the anti-bust regulations enacted the last go-round had absolutely no
How dare those banks try and make a profit!! Their profit margins should be
zero, and they should be taken over by the government!! (That is what all the
liberals sound like so far)How about this. If you don't like a
particular bank making a profit, DON'T get a bank account there or borrow money
from them. Why do you liberals want government to make things better? All
government will do is decide who they like the most and make them even bigger.
Its infuriating to see bankers who were rescued by taxpayers now moan about
regulations intended to prevent the next bail-out. Does it feel right to anyone
that the top 1 percent of Americans now possess a greater collective net worth
than the entire bottom 90 percent?Who got bailed out? Not the
tax-payers.Who pay taxes? Not Bank of America.
Bankers, Banking Lobbyists, and the Republicans who made this possible thank you
for making them richer in these difficult days. It is easy to live an affluent
lifestyle when your interests are protected and improved by conservatives who
work to preserve their class.So how are Republicans able to get
middle-class people to vote against their own economic self-interest? Why, it's
the requirement to be "fair" towards rich people and get side-tracked
by wedge social issues in an election.
Brother Chuck -- please! It was Bush who bailed the banks.Sensible
people will pull their money out of banks and deposit it in Credit Unions.
Re: "Bank of America the nations largest bank . . . will now charge you $60
a year to use your debit card. . . . It's outrageous. Talk about the final
straw. Everyone who banks with them should close out their account."Hear, hear!If even 1% of its customers abandoned this bank
in favor of a local credit union, not only would the policy change, but banks
would be incentivized to engage in fewer monopolistic pricing policies and
lobbying efforts seeking protections from the marketplace.But the
very last thing we need is more expensive and sophomoric government regulation.
That's what got us into the problem in the first place.
Bank of America the nations largest bank has gone a second year in a row
paying absolutely no federal corporate income taxes. In fact, not only did the
company use its losses to avoid paying taxes last year, but it actually reported
a tax benefit of almost a billion dollars.They will now charge you
$60 a year to use your debit card.Not only are they going to charge
you for using your debit card, they now have a minimum checking acount balance
you must meet or they charge a monthly fee ($12) as well. You have to keep $1500
daily balance and have at least one direct deposit of a minimum of $250 a month.
You also have to keep a certain balance in savings or they are going to charge
fees for that.It's outrageous. Talk about the final straw.
Everyone who banks with them should close out their account.
Remember a few years ago when the bankruptcy laws were reformed to benefit the
bankers? They said that would allow them to charge lower interest rates on
credit cards. They lied.
"I believe that banking institutions are more dangerous to our liberties
than standing armies. If the American people ever allow private
banks to control the issue of their currency, first by inflation, then by
deflation; the banks and corporations that will grow up around the banks will
deprive the people of all property untill their children will wake up homeless
on the continent their fathers conquered.The issuing power should be
taken from the banks and restored to the people, to whom it properly
Close your bank account. Move to credit unions.
Zions Bank is horrible about fees. Today I had to go into Zions to figure why
they took in all the deposits except the largest one. The largest one was being
held until Tuesday. No rhyme or reason. In the interim, not all funds will clear
and then the bank will charge more fees. The company paid over 55 thousand in
fees because of their practices. Currently taking 110%. All banks are getting
Poor banks, stop picking on them and make sure they can grow thier bottom line
every quarter like we citizens enjoy.We the people are getting rich
while the poor banks are struggling to get along in life. It's just not right,
give a bank a fee to help them out in these tough times they are suffering
First I'll quote: "Banking is likely to get a lot more expensive in the
coming months. Already, the Bank of America, Wells Fargo and JPMorgan Chase have
instituted fees for debit card transactions in some states. Industry analysts
say consumers can expect the trend to expand and grow."Don't
blame this on the Banks. First they got bail-outs from ObamaNation, when they
did not need the money - followed up from that - for a "you give me this
and I'll give you that" ObamaNation HOGWASH, from The Tea Party and GOP US
House - came even MORE Banking de-regulation's - when most all these Banker's
should of went to Prison when they did their con job, and, helped to crash
America in 2008, in the Housing Market fold-up. Anong with the Koch Brother's,
now you know who is wrecking our country. Yet ya'll keep re-electing
them, because of the "R" after their title. When will ya'll ever
learn?. (Other then, "anyone but Obama") mental blocking. It's time to really "clean house" in Washington DC come 2012.And re-build America "as we all knew it", one time in life
before it ran wild with corruption and crooks.
America First Credit Union and Mountain America Credit Union are great
institutions to use instead of a bank. Try it.
Frank Dodd Durbin and others have done more damage to our country than enemies
without could ever hope. The government banking complex is wrecking our
You people are nuts! Banks are making record profits!They're increasing their fees not to make up for any money lost, but to make
even more money off us!
This is also the result of the government financed consolidation of the banking
industry. Now there are fewer community and regional banks with a tie to their
customers, and so the corporate heads just look at where they can grab a little
more from their depositors who have fewer options in the monopolized banking
Price outbundling is evil. It started with the airlines, and now everybody has
rock bottom 'prices' supplemented by surcharges, levies, rate riders,
convenience charges, shipping and handling, security fees, county assessments,
recovery taxes, you name it. Now banks are really getting on board, nickel and
The Mafia is alive and well in the banking industry.
I tired of the fees my bank was charging and moved my accounts into my local
credit union. I've calculated it saves me about $200 a year.
Now wait a minute.Banks pay depositors a fraction of a percent on
their savings, but charge them 15% - 24% for credit card balances. They borrow
money for themselves at rates so low their loans are virtually free, but charge
customers with perfect credit 5% for a car loan.Bank profits are a
record highs.And now this newspaper is using its editorial page to
shill for banks and get some licks in for it's Tea Party version of American
Did Zions Bank write this editorial? It is so wrong, taking the view of an
industry that took billions from taxpayers and then turns around to stiff the
consumer. And to blame one Senator is astounding! What is wrong with you?
This is unfettered propaganda, not a reasonable, well considered editorial from
a newspaper that is supposed to be a voice of rational thinking in our society.
I am truly appalled!