Apparently lunch is supposed to be free. Or rather a person who has never run anything short of his own campaign feels free to tell the lunch lady that lunch should be free. Because…..well, I’m not real sure.
Because if it’s not free, it’s just “not good business”
President Obama slammed Bank of America’s $5 debit card card fee in an interview with ABCnews.com and Yahoo on Monday, calling the charge “not good business practice.”
“You don’t have some inherent right just to, you know, get a certain amount of profit, if your customers are being mistreated,” he said. Later, he added, “this is exactly the sort of stuff that folks are frustrated by.”
Here in America….you actually DO have a right to try to maintain a certain amount of profit. How does our president not KNOW that.
And can someone explain to me why the press thinks we are so ignorant that we can’t figure out that either changing banks or using cash/checks would solve the problem of the $5/month usage fee on a debit card?
And do we need ANOTHER bill from the federal government to make it easier to close our account with a private business? Let alone do the currently nonfee charging banks need encouragement to point out their lower fees?
Rep. Brad Miller (D-N.C.) introduced a bill that would make it easier for customers to close their accounts and prohibit banks from assessing fees for the process. Meanwhile, Sen. Richard J. Durbin (D-Ill.) sent a letter to community banks and credit unions in his home state urging them to “seize this competitive opportunity” to woo consumers away from larger institutions.
Actually – never mind all that. I don’t even know why I bothered to read it. I should just be writing educational letters to the president.
Dear President Obama,
When you charge a business X in a capitalist sort of model, that X is going to have to be made up for somewhere else. Try to guess where before you start the charge so that you can either anticipate the change or skip the X altogether because the net result will be 0 charge to the business and X charge to others.
Just saying.
Terri
The thing that grinds me about this issue is that Durbin started it by limiting the fees banks can charge to merchants for this card use — of course they are going to make it up somewhere. And as someone who uses my debit care ONLY in ATM machines, I’m going to be pissed if I end up having to pay this fee.