quote:

ORIGINAL: EternalHoH

"The average consumer uses his or her debit card 24 times per month."

Get the masses all hooked on convenience gimmickry while its free, then change your policy to charge for it. 

See, just like all those Steve Jobs inventions, not all aspects of our 'new economy' turn out to be worth it.

quote:


I already did, but you left out a couple of steps in your timeline. First they bought Merrill Lynch under pressure from Bernanke and Paulson, a deal they would have backed out of and a deal they have lost billions on. Then they took bailout money. Then they paid back the bailout money with interest.

quote:

ORIGINAL: Lucylastic

I thought someone was making a noise about having an investigation into the fees>>???

quote:

ORIGINAL: SternSkipper

I look at ANYTHING Any of The TOO BIG TO FAIL CLUB had to do as Part of a PLEA BARGAIN
We OUGHT to be holding a candlelight vigil debating the death penalty over their execs outside some prison in Texas or Georgia

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ARE you RELATED to FARGLEBARGLE because HE does THAT same CAPS on CAPS off THING that YOU do

quote:

ORIGINAL: SternSkipper

quote:


I already did, but you left out a couple of steps in your timeline. First they bought Merrill Lynch under pressure from Bernanke and Paulson, a deal they would have backed out of and a deal they have lost billions on. Then they took bailout money. Then they paid back the bailout money with interest.

WTF? You can't SERIOUSLY expect any of us to give a shit what the poor fucking well bailed out bank has has to suffer through, do you?
   Dude, you live in a fucking bubble or something?
Anybody remember baclk to 08 as to what WillBee was blathering about the bailouts when his favorite Banksters were bleeding out the ears?

quote:

ORIGINAL: Sanity

quote:

ORIGINAL: Lucylastic

I thought someone was making a noise about having an investigation into the fees>>???

Any investigation would find that the Senate caused this when they limited swipe fees. Banks cant do what they do for free so when the government forces them to stop covering their costs in one area they are forced to try to make up that loss somewhere else, so here we are.

And the majority who are withdrawing their funds from BOA are doing BOA a favor because its not cost effective for them to carry small accounts, the associated overhead makes it cost prohibitive.

quote:

ORIGINAL: Sanity

quote:

ORIGINAL: Lucylastic

I thought someone was making a noise about having an investigation into the fees>>???

Any investigation would find that the Senate caused this when they limited swipe fees. Banks cant do what they do for free so when the government forces them to stop covering their costs in one area they are forced to try to make up that loss somewhere else, so here we are.

And the majority who are withdrawing their funds from BOA are doing BOA a favor because its not cost effective for them to carry small accounts, the associated overhead makes it cost prohibitive.

quote:

ORIGINAL: DomKen

quote:

ORIGINAL: Sanity

quote:

ORIGINAL: Lucylastic

I thought someone was making a noise about having an investigation into the fees>>???

Any investigation would find that the Senate caused this when they limited swipe fees. Banks cant do what they do for free so when the government forces them to stop covering their costs in one area they are forced to try to make up that loss somewhere else, so here we are.

And the majority who are withdrawing their funds from BOA are doing BOA a favor because its not cost effective for them to carry small accounts, the associated overhead makes it cost prohibitive.

Are you really claiming it costs more than $0.40 per swipe? IIRC the average swipe fee being charged retailers was $0.42.

It's a secure webserver, some top end database boxes, a bunch of dedicated connections from the clearinghouses to the banks and the POS hardware. The whole infrastructure has been paid for for years. the ongoing costs are minimal. This has simply been a huge profit center for the banksand clearinghouses.

quote:

ORIGINAL: Sanity


They dont get forty cents a swipe, not even close.

And you are not accounting for the costs of maintaining all these millions of small accounts in thousands of brick-and-mortar buildings, and there are numerous other costs.

Just face facts, your beloved government did this to you, just as I wrote earlier. So when someone says I am from the government and I am here to help, tell them to fuck off.  

quote:

ORIGINAL: DomKen

quote:

ORIGINAL: Sanity

quote:

ORIGINAL: Lucylastic

I thought someone was making a noise about having an investigation into the fees>>???

Any investigation would find that the Senate caused this when they limited swipe fees. Banks cant do what they do for free so when the government forces them to stop covering their costs in one area they are forced to try to make up that loss somewhere else, so here we are.

And the majority who are withdrawing their funds from BOA are doing BOA a favor because its not cost effective for them to carry small accounts, the associated overhead makes it cost prohibitive.

Are you really claiming it costs more than $0.40 per swipe? IIRC the average swipe fee being charged retailers was $0.42.

It's a secure webserver, some top end database boxes, a bunch of dedicated connections from the clearinghouses to the banks and the POS hardware. The whole infrastructure has been paid for for years. the ongoing costs are minimal. This has simply been a huge profit center for the banksand clearinghouses.