New post on Scotty Starnes's Blog |  | Spoken like a true Marxist/Socialist/Communist. Obama believes the government can regulate how much a business can earn and his regulations are showing his disdain for the free market. (CNSNews.com) - President Obama suggested on Monday that the nation's banks should "take a little bit less of a profit" rather than raise fees on customers. In an interview with ABC's George Stephanopoulos, Obama was asked if the government can stop banks from imposing a new debit card fee on their customers. "Well, you can stop it because ... if you say to the banks, 'You don't have some inherent right just to -- you know, get a certain amount of profit if your customers are being mistreated. That you have to treat them fairly and transparently.' And -- and my hope is is that you're going to see a bunch of the banks, who say to themselves, 'You know what? This is actually not good business practice.' This coming from a man who has never worked in the free market or ran a business. The banks are doing this because of Obama's regulations. "Banks can make money," Obama said. "They can succeed the old-fashioned way, by earning it -- by lending to small businesses, by lending to consumers. By making sure that-- you know, we are building the economy together." These are the "fat-cats" Obama pretends to hate as he accepts their money and bails them out. Obama advocated "protections" (regulations) that Republicans want to roll back. However, as a direct result of those regulations, the nation's major banks are considering a plan to charge customers a $5 monthly service fee for debit card transactions. A provision in the Dodd-Frank Act cut the amount banks could charge merchants for debit card swipes, so the banks may shift the burden onto consumers. Continue reading>>> Scotty Starnes | October 4, 2011 at 4:30 PM | Tags: capitalism, Communist, debit card fees, Dodd-Frank Act, free market, government regulations, Marxist, President Obama, profits, Socialist | Categories: Political Issues | URL: http://wp.me/pvnFC-5Wl | | | | |
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