IS IT TRUE? September 30, 2011
IS IT TRUE that some of the so called “big banks†are planning to once again inventing ways to keep their status as the “LAND OF THE FEE†intact?…that the banking industry is now starting to target debit card users as a source of FEES?…that the giant yet beleaguered Bank of America is reportedly hatching a scheme to start charging its millions of retail customers a $5 monthly FEE to use their debit cards?…that justification they and other banks are using for this coming practice is the loss of their appropriately named “SWIPE FEES†that the government restricted recently?…that when most of us were young the word SWIPE had a very different meaning and thus we deem “SWIPE FEES†to be a completely appropriate term?…that the usual line up of big banks such as J.P Morgan Chase and Wells Fargo are test marketing the new FEE?…that the only local player on the list is Birmingham based Regions Bank which will be starting to charge a $4 per month FEE tomorrow for “select†accounts?…that someday soon this new scheme will find its way to Evansville with a little jingle based on the song “LET FEEDOM RINGâ€?
IS IT TRUE that as the FEES pile up and the cost of being a part of mainstream America increases that more and more people will be joining the unseen and uncounted part of our country that is sometimes known as the “underground economyâ€?…that such people and they are LEGION work for cash, draw public benefits, do no business with banks, barter for goods and services, and head to the emergency room for free health care when they are sick?…that the arguments in congress regarding companies and piles of cash leaving the United States because for the first time in our history other countries are being seen as better places to pursue dreams?…that all of this NIBBLING with nuisance FEES by both the private sector and government is driving the American economy into a situation where the “UNDERGROUND ECONOMY†is a viable alternative for mainstream American citizens?…that if this bull is not ended that many banks, government agencies, and other legitimate entities will be faced with the same kinds of decisions that the US Post Office is facing now for their failures to respond to email, online transactions, and the changing state of a competitive employment situation?
IS IT TRUE that the so called and proposed “SECOND STIMULUS†mandates that all materials used in these projects must have 100% American made materials with one exception?…that the exception is if the materials cause the cost to be over 25% higher?…that it is perfectly acceptable under this proposal to spend $124.99 Million on a $100 Million project but the government will draw the line at $125 Million?…that this is completely counter to the goals of fixing as much infrastructure as possible with the money?…that somewhere in America in a couple of year that a bridge will collapse because our government ran out of money from spending 24.9% more than was needed on other projects?…that when we buy and sell from other people that they do the same with us?…that we encourage the voluntary actions of citizens to buy American in the FREE MARKETS but realize that government mandated programs to do that only increase prices right to the edge of the law and cap our ability to do repairs?
IS IT TRUE that even local governments such as the City of Evansville sometimes do things that make us look like Bellflower, CA where city council members were being paid like Hedge Fund Interns?…that City Councilman Dan McGinn testified on Monday night that the City of Evansville is paying $95 per hour for PARALEGAL SERVICES?…that this works out to $197,600 per year at full usage?…that is double the salary of the Mayor of Evansville?…that no two department heads combined are being paid this much?…that even Mr. Tom Barnett whose salary caused quite a ruckus this year is grossly underpaid when compared to a contract PARALEGAL?…that City Council Finance Chairman JOHN FRIEND needs to get to the bottom of this and conduct another one of his FRIENDQUISITIONS so that this expense can be brought into line with even what PARALEGALS make in New York City or Chicago?…that the median salary for a PARALEGAL in Evansville, is below $50,000?…that this position should be a city employee and not a permanent consultant?
NEW BANK FEES:
To quote the WSJ, “The fee will apply to *standard* checking accounts, but *not* most premium accounts held by *affluent* customers. Banks typically exempt their premium accounts from many fees because they tend to be more profitable than standard accounts with lower balances”.
The new regulation was highly anticipated to simply be picked up other places in the banking fee structure…
Before Obama gets on the campaign stump with more class warfare, telling us how this is some conspiracy of the rich to soak the poor…
Let’s give credit where credit is due, OK? See local votes (HR 4173):
Indiana
Yea IN-1 Visclosky, Peter [D]
Yea IN-2 Donnelly, Joe [D]
Nay IN-4 Buyer, Stephen [R]
Nay IN-5 Burton, Dan [R]
Nay IN-6 Pence, Mike [R]
Yea IN-7 Carson, André [D]
Yea IN-8 Ellsworth, Brad [D]
Yea IN-9 Hill, Baron [D]
Kentucky
Nay KY-1 Whitfield, Edward [R]
Nay KY-2 Guthrie, Brett [R]
Yea KY-3 Yarmuth, John [D]
Nay KY-4 Davis, Geoff [R]
Nay KY-5 Rogers, Harold [R]
Nay KY-6 Chandler, Ben [D]
Illinois
Yea IL-1 Rush, Bobby [D]
Yea IL-2 Jackson, Jesse [D]
Yea IL-3 Lipinski, Daniel [D]
Yea IL-4 Gutierrez, Luis [D]
Yea IL-5 Quigley, Mike [D]
Nay IL-6 Roskam, Peter [R]
Yea IL-7 Davis, Danny [D]
Yea IL-8 Bean, Melissa [D]
Yea IL-9 Schakowsky, Janice [D]
Nay IL-10 Kirk, Mark [R]
Yea IL-11 Halvorson, Deborah [D]
Yea IL-12 Costello, Jerry [D]
Nay IL-13 Biggert, Judy [R]
Yea IL-14 Foster, Bill [D]
Nay IL-15 Johnson, Timothy [R]
Nay IL-16 Manzullo, Donald [R]
Yea IL-17 Hare, Phil [D]
Nay IL-18 Schock, Aaron [R]
Nay IL-19 Shimkus, John [R]
Paralegalgate occurs when there is no budget for Legal Fees expense. Who is in charge of Legal Fees expense? Everyone is in charge, and thus no one is in charge.
If I were John Friend I would demand a big pay raise. Why is he the only Council Member who can ask the tough questions ? Why can’t there be a Dan ” tell me McGinn, McGinn and McGinn” session ? a Missy “Mo(sby)Info. Please” proceeding ? A B.J. “Watt’s up with that?” meeting ?
The Friendquisition can not cover every single topic, not enough hours in the day.
I agree with you Beerguy, the question IS why has it taken John Friend till the election year to grow a set and start asking the hard questions?
The turning point was a few months ago when the mayor made the statement that he didn’t understand Friend’s politics anymore. Think about that statement for a moment.
JMHO
blanger, do you have an account on C&P ? If so, send me a direct message and I’ll send you one back with my OPINION re: your question.
Yeah I do…..but unless I find a post that you have made (to click on your ID) I can’t send you a message, at least I can’t figure out how to…lol!
CCO should invest in a message system for this site….
JMHO
blanger,
OK, posted on “Dozens Arrested At Bank of America offices” on CP today, Saturday, 10/1/2011.
thanks, beerguy
Why bother with a bank? Credit unions are the family-friendly financial institutions of the 21st century.
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