Re: Re: Retailers set to charge for card use

[Guest guest]

I think you're right on both counts.

1. The banks on all listed on the stock market. The stock market has been an extreme joke (though one that is a hazard to the nation) for some time now. I say that because no longer is it enough to be a stable, productive company. One must has constantly and rapidly growing profits. This explains to increasing advertising everywhere and Facebook's value plunging when it's data mining and ability to sell advertizing didn't meet expectations. Banks keep inflating their profits by gouging customers with more and more fees.

2. Related to point 1: banks want to keep up their profits to keep their investors happy. So they keep up the nickel and diming of customers while still engaging in risky investment packages. And why wouldn't they? The government keeps handing them free money and Goldman Sachs executives just walked away from any charges. So, as long as the banks keep the funny money flowing to keep the few who own most of the stocks invested and they grease the right political wheels, it is no risk to them and their personal fortunes.

3. Banks are on even shakier ground now than before. You can bet that as more people lose jobs, they close accounts. In order to keep profits up, the banks impose more fees and raise charged interest rates. This in turn squeezes more people out and the cycle repeats.

4. Government has passed many useless laws and regulations. I can tell you from my business they are making it MUCH harder for businesses to operate. While I don't need regular short-term loans, many contractors and others I work with do. There are many more hoops for them to jump through now and banks can waste lots of time with the paperwork shuffle. Things that for years were easily handled now take forever and are complicated. Still, that doesn't stop the fat cats who know how to game the system. My point here is that bank activity is slowing down because of this red tape. That loss of business and the cost of compliance is hurting the banks.

There are other things going on, too, but these are the main ones I have experience with.

In a message dated 8/10/2012 4:24:45 P.M. Eastern Daylight Time, no_reply writes:

Look for fees of this kind to pop up more and more as the economy gets worse. You will also see a lot more banks begin to fail too.Administrator