Obama & Dems Kill Free Checking

[hortysir]

Thank you for this, Care



Now, I know I told ya I'd watch my language, so you might wanna cover your ears for the next part....

House vote on this Credit card reform:
Dems 104 yays Repubs 175 yays
Dems 145 nays Repubs 2 nays
GovTrack: House Vote #277 (May 20, 2009)

Senate vote on this credit card reform:

Dems 53 yays Repubs 35 yays
Dems 1 nay Repubs 4 nays
GovTrack: Senate Vote On Passage: H.R. 627: Credit Card Accountability Responsibility and Disclosure Act...

I'd say it was NOT ONLY Democrats that passed and supported this, wouldn't you Frank?

Or are you giving your republican darlings a pass?

Repub-This...Dem-That....

****, ya'll trip me out!!

Everybody screams, "bipartisanship", "reach across the aisle", "come up solutions we can all agree on".

Look at the ******* vote count, morons!
Credit card companies and other Banks were raping us every chance they had, so EVERYBODY wanted to reign them in.
EVERYBODY wanted a silver bullet to stop the bullshit.

Democrats AND Republicans worked together to draft this piece of legislation, but guess what?
There's no such thing as a silver bullet for you selfish *****.

"The Republicans refuse to regulate", say the Democrats
"The Democrats are taking over the banks", cry the Republicans

The two parties tried to find a compromise that regulated without over-regulating, and all ya'll thought that none of the cost would get passed on to the consumer!

If you take away one of a business' sources of revenue they will ALWAYS find a way to recoup it.

 

[MaggieMae]

Democrat drive to bring the neck of the American economy under their jackboot claims another victim: free checking accounts.

"End Is Seen to Free Checking

Bank of America and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that is expected to spell an end to free checking accounts for many Americans."

End Seen to Free Checking - WSJ.com

Yeah, my heart bleeds for those big hogs. From the article:

The transformation of checking accounts comes at a time when banks are bouncing back from the steepest financial losses in a generation and are facing new regulations. To accelerate that recovery and recoup losses from new banking rules, financial institutions are increasingly leaning on customers who don't now generate enough revenue for the bank.

Translation: We're gonna get you sucka, one way or another. Don't expect our fuckups to actually be PAID FOR by us.

My advice? Shop around. There are plenty of community banks and credit unions that offer free checking. And when you call 'em up with a question, someone actually answers the phone. Imagine that.

 

[MaggieMae]

Morons. How is it Obanas fault that BOA is dumping free checking? One minute you are screeching for market forces and now you are screeching against it?

I think it is a dumb move but how is it that you think the bank had to get Obamas permission? Didn't the banks involved pay back thier loans?

It's positively incredible what short memories all these critics have. Unfuckingbelievable how they are all rallying to the DEFENSE of the very banks that were all instrumental in creating the personal financial situations they describe as so dire. One would think that the rational response to a bank like Bank of America announcing it would no longer offer free checking accounts would be, "fine, I'll take my business somewhere else." After all, is that not what free marketing and the glory of capitalism is all about? Of course these people also apparently don't stop to think that those banks might for once accept their moral obligations to finally stop screwing their depositors in every small way they can get away with.

 

[MaggieMae]

Morons. How is it Obanas fault that BOA is dumping free checking? One minute you are screeching for market forces and now you are screeching against it?

I think it is a dumb move but how is it that you think the bank had to get Obamas permission? Didn't the banks involved pay back thier loans?

The new regulations that prohibit banks for charging fees for little things like writing a check for more money than you have.

Again, that does NOT apply to ALL banks. In fact, regarding overdraft fees, I just got a letter from my bank yesterday where I had to opt in or out of its program to pay any checks that would overdraw my account but that the bank would charge $29 per overdrawn check. That's a very comfortable situation, in my opinion, because if I'm stupid enough to be overdrawn, in that case, I should pay a fee for the bank to cover the check. At least I know the check(s) wouldn't be returned.

 

[MaggieMae]

That's how the free market works (not that I expect a conservative welfare recipient to understand the free market), right?

If you don't like the fees, find another bank.

Good point, except that the other banks have to follow the same regulations that make it impossible to offer free checking, which is why you are wrong.

What the OP discusses is not a "regulation" but an edict decided upon by certain banks, period.

 

[MaggieMae]

has anyone READ what is in the bill?

H.R. 627 - Summary: Credit Card Accountability Responsibility and Disclosure Act of 2009 (GovTrack.us)

Seems to me they haven't even reviewed the new little pamphlet in their latest credit card statement mailer which spells it all out, including a redesign of the statement form that makes it easy to understand and easier to pay off. (The banks never wanted you to know. They were more than eager to get those minimum payments which would take you 50 years to pay off because of the interest charged.)

 

[MaggieMae]

Democrat drive to bring the neck of the American economy under their jackboot claims another victim: free checking accounts.

"End Is Seen to Free Checking

Bank of America and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that is expected to spell an end to free checking accounts for many Americans."

End Seen to Free Checking - WSJ.com

you are such a silly silly boy and the biggest
Con partisan hack we've got on this board! a toast to you for the award frank!

House vote on this Credit card reform:
Dems 104 yays Repubs 175 yays
Dems 145 nays Repubs 2 nays
GovTrack: House Vote #277 (May 20, 2009)

Senate vote on this credit card reform:

Dems 53 yays Repubs 35 yays
Dems 1 nay Repubs 4 nays
GovTrack: Senate Vote On Passage: H.R. 627: Credit Card Accountability Responsibility and Disclosure Act...

I'd say it was NOT ONLY Democrats that passed and supported this, wouldn't you Frank?

Or are you giving your republican darlings a pass?

This is like complaining about how salty the water was that Katrina brought on shore: it's Statism that's the problem and the Republicans still have a few of them but ALL The Dems are Statists (Neo-National Socialists) or are you saying this was a Republican lead effort?

So which rabid right wing publication is using the term "statist" that you guys are all repeating? Love the way you use snippets and slogans trying to make your points, like they're supposed to "scare" us into submission to your failed ideology.

 

[MaggieMae]

Why am I thinking that the banks are simply using the recent regulations as a excuse to raise their prices? Besides, how much do you think we would be paying the banks today if they had not been bailed out?

Have you ever worked a day in the "private sector" or do you just hear about it on the DU?

Free checking is a huge marketing devise banks use to attract customers...customers, look it up, not everybody get regulated and loses their choices like every time the Gubbamint gets involved.

Customers have choices, customers like to shop, customers like free checking.

Yes, so those banks are in effect saying "**** the customer." But maybe they'll give you a toaster instead.

 

[MaggieMae]

Have you ever worked a day in the "private sector" or do you just hear about it on the DU?

Free checking is a huge marketing devise banks use to attract customers...customers, look it up, not everybody get regulated and loses their choices like every time the Gubbamint gets involved.

Customers have choices, customers like to shop, customers like free checking.

Yes, but did you bother to ask yourself what sort of regulations are the reasons why they're raising their prices? Or did you just see the word regulations and figured it was that "Obama and his Dem cronies" fault?

Clearly, you didn't bother to read the article before you set the land speed record for Obama defense.

The new policy is that Consumers must proactively "opt-in" to agree to overdraft charges, so instead BofA and other will say, "thanks, but no thanks --no more free checking"

Read the article next time before you defend Obama, you'll still defend Obama but you'll be less of a total rube

Anyone who seriously thinks the banks would be in big financial trouble unless they removed those perks needs to have his head examined.

 

[Big Fitz]

Ugly ugly outcomes that I was aware of the instant they passed the credit reform act. Funny thing, all this shit is going to hit the fan at a very bad time for the libs if banks feel like getting a little retribution.

 

[MaggieMae]

Ugly ugly outcomes that I was aware of the instant they passed the credit reform act. Funny thing, all this shit is going to hit the fan at a very bad time for the libs if banks feel like getting a little retribution.

Well by then, maybe your wish will be granted and you'll have a new president. Let's see how s/he will deal with it.

 

[CrusaderFrank]

Why am I thinking that the banks are simply using the recent regulations as a excuse to raise their prices? Besides, how much do you think we would be paying the banks today if they had not been bailed out?

Have you ever worked a day in the "private sector" or do you just hear about it on the DU?

Free checking is a huge marketing devise banks use to attract customers...customers, look it up, not everybody get regulated and loses their choices like every time the Gubbamint gets involved.

Customers have choices, customers like to shop, customers like free checking.

Yes, so those banks are in effect saying "**** the customer." But maybe they'll give you a toaster instead.

No, the great new Law Obama passed is saying the customer is too stupid to figure things out on his own so we're going to punish the banks, the banks replied by making it more expensive for the customers.

Pay attention

 

[CrusaderFrank]

you are such a silly silly boy and the biggest
Con partisan hack we've got on this board! a toast to you for the award frank!

House vote on this Credit card reform:
Dems 104 yays Repubs 175 yays
Dems 145 nays Repubs 2 nays
GovTrack: House Vote #277 (May 20, 2009)

Senate vote on this credit card reform:

Dems 53 yays Repubs 35 yays
Dems 1 nay Repubs 4 nays
GovTrack: Senate Vote On Passage: H.R. 627: Credit Card Accountability Responsibility and Disclosure Act...

I'd say it was NOT ONLY Democrats that passed and supported this, wouldn't you Frank?

Or are you giving your republican darlings a pass?

This is like complaining about how salty the water was that Katrina brought on shore: it's Statism that's the problem and the Republicans still have a few of them but ALL The Dems are Statists (Neo-National Socialists) or are you saying this was a Republican lead effort?

So which rabid right wing publication is using the term "statist" that you guys are all repeating? Love the way you use snippets and slogans trying to make your points, like they're supposed to "scare" us into submission to your failed ideology.

Personally, I prefer "Neo-National Socialists" because that how Democrats act today, like jackbooted ******* Nazis

 

[Big Fitz]

Ugly ugly outcomes that I was aware of the instant they passed the credit reform act. Funny thing, all this shit is going to hit the fan at a very bad time for the libs if banks feel like getting a little retribution.

Well by then, maybe your wish will be granted and you'll have a new president. Let's see how s/he will deal with it.

May s/he have a conservative (not republican) congressional super-majority and the first bill signed into law is a repeal of every new federal program passed after 2003.

If I could also see a law passed making it a capital crime for any member of the executive or legislative branches to take over or coerce industry like we saw with GM, Chrysler, the banking industry, health insurance and now BP, I would be very happy. Make it retroactive to 2006 too just so these assholes can get a taste of what it's like to fear for what will happen to them like what they did to industry in their avarice and egotism when they started violating the constitution with retrograde legislation.

 

[Big Fitz]

This is like complaining about how salty the water was that Katrina brought on shore: it's Statism that's the problem and the Republicans still have a few of them but ALL The Dems are Statists (Neo-National Socialists) or are you saying this was a Republican lead effort?

So which rabid right wing publication is using the term "statist" that you guys are all repeating? Love the way you use snippets and slogans trying to make your points, like they're supposed to "scare" us into submission to your failed ideology.

Personally, I prefer "Neo-National Socialists" because that how Democrats act today, like jackbooted ******* Nazis

Neo-National Socialists"

So... they're Natsois? I can see that.

 

[Care4all]

why do you think it was not needed QW?

Because there is essentially nothing wrong with credit the way it works now. Government regulation that punishes everyone because a few people take advantage of loopholes is stupid, just close the loopholes. Instead they write a new law that makes things harder for everyone.

well, on this one, I totally disagree with you and I believe if you truly informed yourself on this, you would not be taking your stance....the devil is in the details and banks were committing highway robbery for good standing accounts....among many other UNETHICAL business practices.

It would have been nice if credit card banks would have listened to their customers and their good customer's complaints,

and changed their unethical practices for us....but they didn't. This was their choice to screw us upside down and inside out and to continue to do such in larger measures every day that passed....

they can kiss my grits with their fear mongering and patsies that they have out there spreading this crapola and their minions like frank to do it for them, without a thought.

Care