Fee Increase Attempt Inspires 'Dump Your Bank Day'

suraj.sun writes with this excerpt from CNN Money: "Customers are dumping their banks in droves ahead of the nationwide 'Move Your Money' and 'Bank Transfer Day' movements this Saturday. Given the recent spotlight on attempts — and ultimate failures — by some of the nation's biggest banks to tack on new debit card fees, thousands of disgruntled consumers have already either left or pledged to leave their current bank for a community bank or credit union, which are known for having fewer and/or lower bank account fees. ... At least 650,000 consumers have already joined credit unions since Sept. 29, the day Bank of America announced plans to impose its controversial $5 debit card fee, according to a nationwide survey of credit unions by the Credit Union National Association."

Comments

Re:They may have dropped the $5 fee

[roman_mir]

Ridiculous.

This is ridiculous. People are crying over a 5 dollar fee, which is in fact an absolute right for a bank to charge for an account, but these same people want government to collect more taxes, so that what? More wars and more bank bail outs could be done?

The politicians are 'outraged' by bank raising a fee, so they will raise taxes to 'protect' the consumer from this?

A 5 dollar fee for a service, that nobody has to use, for a service that has plenty of competition - checks, credit cards, cash, other banks. This is nonsense.

The OWS protesters want more government! Figures. 50% of Americans don't pay income taxes, and this is a problem - a system that allows a large part of the population to escape a tax, that another large part of the population pays will be voted for, because those who don't pay those specific taxes will vote to raise them any time.

But the OWS protesters are ridiculous for a very specific reason - many of them believe that they will be better off in some sort of a socialist state, while it is SOCIALISM that is collapsing because it turned into FASCISM.

That's right, all this socialism, which allows the government to regulate businesses to appease the largest voting block - employees, provides entitlements to employees, while hitting the employers with all the obligations. The worst thing one can do is hire somebody in USA or other Western nations, where this socialism exists, because once you hire somebody, you lose your rights and they gain entitlements.

So the government grabbed this power for a reason - so it could sell it. Gov't sells power that it steals from the people by abusing the laws and going above its authority (Constitution) and the gov't creates motive and opportunity for businesses to buy the power that gov't has over businesses, thus creating monopolies and destroying competition, which means that only FEW people will have most of the power, because real democracy is not in the ballot box, it's in business and ability to use your own money to buy products that you want without any obstacles. Because that's the ultimate vote in an economy - who wins and who loses.

Instead the socialist ideology allows gov't to steal and sell power, creating powerful entities, that eventually take over the government obviously with all that bought power.

From printing of the fiat currency and taxing income as opposed to using excise taxes, and regulating businesses, which is unauthorized, to creating all these ponzi schemes - SS, Medicare, and forcing them upon people and to running insane illegal wars forever. All of this destroys the economy and creates small number of large monopolies/oligopolies that destroy economy and are the cause of this 'inequality'. Well, the real cause of inequality and the rise of the fascism is socialism that leads to this.

And people are complaining about 5 dollar fee. Ignorance is a bliss but it also leads to slavery.