Does That Justify the senator (d- of course) Encouraging a Run on a Bank???
Every time I must deal with a CHT (Clueless Human Teller), they sincerely try to "help" me by locking me into some absurdly large minimal balance, so that I don't get hit with fees. How nice. OR, they try to lock me into some "great" CD rate at 25 basis points! B!tch, pleaz!
I ask for no return. I keep the other (lower) minimal balance just fine, thank you, so that I don't get any fees. Just handle my checking and don't charge me an ATM fee. Somehow it is never that easy and I find myself having the manager reverse fees almost every other month.
Dick Durbin, senator from Illinois, seems like a character straight out of Atlas Shrugged. In his attempt to protect us from the the banks, he has added on an amendment to the already needlessly destructive Dodd-Frank law (named at the two idiots that protected Fannie Mae and Freddie Mac more actively than any other politicians) that just piled onto the regulatory burdens.
How are banks to make money? Go ahead cry about what they may or may not have done in the past while you demand that they lend, lend, lend and get healthy in the process. They require a....profit to stay in business.
Up pop the fees. Let's all howl at the moon for a moment.
Now that we feel a little better: Let's have the Senator further "protect" us. What do you say, DICK?
"BANK OF AMERICA CUSTOMERS, VOTE WITH YOUR FEET.
GET OUT OF THAT BANK." - Dick Durbin