September 30, 2011

On the inevitable side effects that follow from Democrat party efforts to punish corporate America…

The Democrats never factor the dynamism into anything they do. They look at everything as static. And they say, “We’re gonna really punish these banks, these banks have been ripping off our voters, these banks have been ripping off our customers, we’re gonna cut that transaction fee in half, we’re gonna make sure these banks only get half of what they’re …” … They have to know the banks are gonna find a back-door way to get that money back and then some. So while the transaction fee has been cut in half by law, here comes a $5 charge, brand new $5 fee, monthly fee, to use the debit card. This is above and beyond whatever your ATM fee is. This is now a $5 monthly fee just to have and use a debit card. Brand new fee. ‘cause you see there’s nothing in Dodd-Frank prohibiting it. Nothing whatsoever. They just fail to calculate the dynamism here. They think that all of these institutions they target for punishment are gonna sit there and take it. It never happens. Every time the Democrats set out as a party to help the little guy, it’s the little guy that ends up getting shafted.