Citibank just announced to charge $ 20.00 for checking....Thanks Obama! (dollars, politician, leader)

[AnUnidentifiedMale]

Originally Posted by bentlebee

The people who are getting hurt are the middle and lower incomes.

Are you not an advocate of the free market? Do you not believe that the middle class is smart enough to close their accounts if they're not satisfied with their banks?

[rw47]

Originally Posted by AnUnidentifiedMale

Are you not an advocate of the free market? Do you not believe that the middle class is smart enough to close their accounts if they're not satisfied with their banks?

Free market? The government has driven up prices. How hard is this for you all to comprehend?

[stan4]

Isn't it amazing that some of us have managed to avoid being fleeced, abused, and duped by these slavering, predatory banks?

Must be some kind of miracle. Or common sense.

I'll stick with miracle. That way stupid people don't have to feel bad about themselves.

[lifelongMOgal]

Originally Posted by stan4

Isn't it amazing that some of us have managed to avoid being fleeced, abused, and duped by these slavering, predatory banks?

Must be some kind of miracle. Or common sense.

I'll stick with miracle. That way stupid people don't have to feel bad about themselves.

[pghquest]

Originally Posted by stan4

Isn't it amazing that some of us have managed to avoid being fleeced, abused, and duped by these slavering, predatory banks?

Must be some kind of miracle. Or common sense.

I'll stick with miracle. That way stupid people don't have to feel bad about themselves.

Thats what many of us said before the government passed their stupid reform bills which created the "need" for these fees.

[CoyoteBlue]

The government has not driven up fees charged by banks -- banks did that all on their little own to make up for the percentage they were charging retailers. Now mind you banks do still get to charge retailers a fee -- just not as much of a fee as they used to. When will Americans wake up and understand that financial institutions can turn a profit and do so without being usurious and predatory?

[rw47]

Originally Posted by CoyoteBlue

The government has not driven up fees charged by banks -- banks did that all on their little own to make up for the percentage they were charging retailers. Now mind you banks do still get to charge retailers a fee -- just not as much of a fee as they used to. When will Americans wake up and understand that financial institutions can turn a profit and do so without being usurious and predatory?

You haven't solved anything. They've only moved their fees to the consumer side. You can't force banks to be nice by imposing arbitrary regulations like this. They will simply find a way to make up for the cost.

[mmmjv]

Ok, again, as I said this in another thread. This isn't Obama. This is Citibank figuring out that they can increase their profits by charging that $20.

[mmmjv]

Once that $20 fee goes into effect it's there to stay. 100% of Obama's policies could be repealed and that fee would stay exactly where it is

[rw47]

Originally Posted by mmmjv

Ok, again, as I said this in another thread. This isn't Obama. This is Citibank figuring out that they can increase their profits by charging that $20.

Why are they doing this now as oppose to say last year? If you can give me a valid answer to that question I'll shut up.

Originally Posted by mmmjv

Once that $20 fee goes into effect it's there to stay. 100% of Obama's policies could be repealed and that fee would stay exactly where it is

You own CitiBank?