Quote:
Originally Posted by NetHorse
Welcome to America son.
Did I say it was fair? The only person hurting the middle class is this current administration.
Big banks and corporations aren't focusing on what's fair, all that matters is their bottom-line. Take away from their bottom-line by forcing regulations and mandates, they will fire people and raise costs to consumers to get it back.
No one said it was fair, that's just how greed in this country works. If you want everyone to be on a level playing field move to Europe.
You can all live on an equal sized flat, drive similar cars, earn a similar amount of money after taxes and have similar opportunities.
America is the land of opportunity, where the 1st generation immigrant living next door can be a millionaire with just an idea. Make all banks and big businesses a government bureaucracy then you aren't going to see venture capitalist, business loans, investors, etc, etc.
Ever wonder why over 86% of millionaires abroad are the product of inheritance? Ever wonder why Facebook, Youtube, Google, Microsoft, Linux, Intel, Twitter, Adobe, Apple, etc, etc were all started HERE by people with little to NO capital at all?
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Let's talk about these regulations you keep whining about. One of them is they are being forced to stop charging merchants twice as much on swipe fees for debit cards compared to credit cards. BOA said they would lose $2 billion a year because of that, and thats just BOA. Millions of retailers were paying nearly $10 billion a year annually for those bogus fees. Who the hell you think was paying for that?
Another was to make it illegal for banks to charge anywhere from $35 - $50 for by approving debit purchases that would overdraft the account, even if the overdraft was 1 penny.
Poor banks.