Too much meddling by government

No other administration has bashed business more than the Obama administration, and yet it wants them to hire more people. No other administration has saddled business with more job strangling regulations, and then wonder why there aren’t more jobs.

This was will pointed out by Sen. Dick Durbin’s last minute amendment to the Dodd-Frank bill to reduce the “swipe charges“ that banks charge retailers by 50 percent, a major source of income to banks, and a government transfer of income to the retailers.

The banks used this income to pay for the operation of credit cards, and to offer free checking, free debit card transaction, etc. Once banks saw the impact this had on profit. (Yes, banks have to make money to stay in business, despite President Obamas comment on ABC saying, “Banks don’t have some inherent right to get a certain amount of profit.” Sounds socialistic to me.)

Bank of America then initiated a $5 per month fee on debit transactions, soon to be followed by other banks. The media then started calling it the Durbin tax or fee (which it is), and Durbin went ballistic on the Senate floor telling customers to “get out of that bank.” Just for your information, Sen. Durbin, we, the consuming public, don’t need you to tell us where to shop. We would much prefer you help us get jobs by a whole lot less of your government rules, laws and government intervention in our lives.

Just so you know, I am not affiliated any way with any bank. No stock. Nothing. I have been in business and know the expense and damage excess government intervention can cause.

Roger Dauchy

Wheaton