Durbin urges a run on Bank of America

[JBond]

http://abcnews.go.com/blogs/politics/2011/10/durbin-to-bank-of-america-customers-get-the-heck-out-of-that-bank/


“Bank of America customers, vote with your feet, get the heck out of that bank,” Durbin said on the Senate floor.

So the asshole that created the problem in the first place is now trying his best to destroy the bank. He should have a cell right next to Holder.

[ThaBigP]

...can't let a good crisis go to waste, don't you know. And if you need a crisis, why not create one? BofA is doing nothing different than pretty much all other major banks.

But they can't tell everybody to take all of their money out of *all* major banks, that would be silly. All that would happen is a fuzzy blur of people moving from one bank to another, the sum effect of which would be negligible. What they need is *one* ... *BIG* ... bank to fail to stoke a fresh banking crisis. So ... BofA gets a target on their backs... They're probably just convenient. Hell, they could have pulled that bank out of a hat to see who goes first...

[ThaBigP]

And I remembered something similar from 2008. A quick Google search and ... lo and behold... found this:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAYLeK3YAie4

[Catch88Again]

Not a big fan of increased Debit card usage fees that BofA is rolling out and which many others will follow.

[JBond]

Call your Congressmen and Senator and complain. They are the ones responsible for the new fees. Obama and his little Dem buddies in congress in their unquenchable thirst for power have yet again over reached with unnecessary legislation without caring about the consequences. These consequences were spelled out for them and they did not care.

[ThaBigP]

Not a big fan of increased Debit card usage fees that BofA is rolling out and which many others will follow.


Call your Congressmen and Senator and complain. They are the ones responsible for the new fees. Obama and his little Dem buddies in congress in their unquenchable thirst for power have yet again over reached with unnecessary legislation without caring about the consequences. These consequences were spelled out for them and they did not care.

It's worse ... These new fees are due to the Financial Reform Bill, true. However, that represents the end of Congress', or even the President's, say in the matter. Yet *another* Administrative Superstate outside of the reach of the people or their representatives who get to make law by edict ... but we choose to not call it that, preferring to call it "regulation". This bill created what is called the Bureau of Consumer Financial Protection.

Summary of the law itself from senate.gov:

http://banking.senate.gov/public/_files/FinancialReformSummary231510FINAL.pdf


Consumer Protections with Authority and Independence: Creates a new independent watchdog, housed at the Federal Reserve, with the authority to ensure American consumers get the clear, accurate information they need to shop for mortgages, credit cards, and other financial products, and protect them from hidden fees, abusive terms, and deceptive practices.

See that little bit? The bureau is headed in the interim (http://www.consumerfinance.gov/the-bureau/) by Elizabeth Warren (http://blogs.wsj.com/economics/2010/09/17/elizabeth-warrens-early-words-on-a-consumer-financial-protection-bureau/), a Socialist. The bureau and its director answer ONLY to the FEDERAL RESERVE. The Federal Reserve is a private banking cartel that includes many of the banks they're now supposed to oversee. The banksters were handed the keys to the kingdom. By Obama and the Progressives. Who claim to hate the banksters and love the little guy. What they've done is merely cement in place the big boys now, and gave them the authority to regulate and seize upstarts who represent a competitive threat (the aforementioned "little guy" who tries to make something of themselves). Welcome to the return of titular nobility, where the rulers rule by title they bequeath to themselves. Hope. And change. And a heapin', helpin' spoonful of irony.

[JBond]

All the evil of the Obama machine can be undone. It will not be easy, but it is possible. Those crying about $5 fees have to pull their head out and make better decisions in the voting both.

Have you seen an update on the Obama 1% financial transaction tax? For those not familiar, every time you move money in our out of a bank for any purpose, such as paying bills or depositing your paycheck, Obama wants a 1% cut off the top. Makes the $5 debit fee look small in comparison.

Another back door tax is the 5% surcharge on the majority of small businesses that operate as an LLC. Guess who is going to pay that? That new tax will be passed onto the consumer again. The leftists love screwing the little guy under the disguise of sticking it to the big guy. Too many sheep in this country.

[iceberg]

All the evil of the Obama machine can be undone. It will not be easy, but it is possible. Those crying about $5 fees have to pull their head out and make better decisions in the voting both.

Have you seen an update on the Obama 1% financial transaction tax? For those not familiar, every time you move money in our out of a bank for any purpose, such as paying bills or depositing your paycheck, Obama wants a 1% cut off the top. Makes the $5 debit fee look small in comparison.

Another back door tax is the 5% surcharge on the majority of small businesses that operate as an LLC. Guess who is going to pay that? That new tax will be passed onto the consumer again. The leftists love screwing the little guy under the disguise of sticking it to the big guy. Too many sheep in this country.

well, the $5 fee is to replace "lost revenue" so to speak. when you take revenue away from a billion dollar industry do you think they'll just go "wow, less money" or find a way to get it back?

regulation doesn't regulate as much as people think it does. it only makes people change how they get their desired results.