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And you understand that this ALWAYS gets passed onto the consumer correct? And if a lot of people close their accounts, it will amount to massive layoffs, right?
Do you think you can just assess fees on banks in the name of "financial reform" and think it doesn't have a cost?
Whether it's lower salaries for workers, less dividends, fees on account holders, etc. it all has a cost.
Yup, but that cost is lower then the resultant fraud and abuse that occurs when banks and securities companies are free to "police themselves." Just look at the 1930s bank panics for costs passed onto consumers.
And you understand that this ALWAYS gets passed onto the consumer correct?
Uh... no. That's right-wing propaganda. Firms make profits, with which they can sometimes absorb these costs. Other times they can just reduce their dividend, or cease planned stock repurchases.
In the case of a monopoly, for example, there may be a ton of room for them to lower prices and still make a profit; they simply don't, because they are a monopoly, there's limited competition, so they don't need to lower prices.
There are SOME firms that operate on such thin margins that they MUST pass costs onto their consumers, but to pretend that costs MUST be passed onto consumers is a big fat lie.
Which means investors (401k's, pension funds, etc.) earn less money, screwing guess who?
Screwing the billionaires who own most of America's publicly traded firms. Boo-hoo.
And no, I don't want to see your tired right-wing propaganda about CalPERS, and how you erroneously believe that the equity markets are predominantly owned by Joe Sixpack. I've shot you down before and I will shoot you down again.
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