Most of our banks soon will be charging each of us $5 a month if we use our debit cards at all. This is because of Sen. Dick Durbin's little discussed amendment to the 2,300-page Dodd-Frank "reform" law of 2010.
This is the same law that exempted Fannie Mae and Freddie Mac from its few real reforms. Yes, these are the same Fannie Mae and Freddie Mac that, with encouragement from Rep. Barney Frank and Sen. Christopher Dodd, recklessly backed $1 trillion in bad loans and wrecked the economy.
The Dodd-Frank Act shows that Barney Frank, Chris Dodd and Dick Durbin know how to look out for the big banks and the big retailers (whose bank fees now will go down). But Frank, Dodd and Durbin have taken the kickbacks. They've sold out the average American.
Frank, Dodd and Durbin should be paying us back at least $1 trillion for the damage they've caused. Instead, they're making us pay more.
Frank Warner
Those fine career politicians were just doing the regulatory bidding of their president.
Posted by: CJW | October 05, 2011 at 03:41 PM