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Tuesday, October 4, 2011

Obama's auto-signature in action!

Hold on a second. Obama is against the new bank fees Bank of America is charging debit card customers, yet he signed the Dodd-Frank bill that incorporated Dick Durbin's "swipe fee" amendment? Ok I think I am confused. Barack Obama campaigned on going line by line through budgets and legislation, yet he is now against a fee that is in direct response to the legislation.
“It’s disappointing and puzzling that the President would attack a private corporation for responding to government price fixing that has fundamentally altered the economics of offering a debit card. As a direct result of the Durbin Amendment, consumers have started paying for financial services they previously enjoyed free of charge. Unfortunately, this proves that whenever government tries to control pricing of a product or service, consumers lose.” - American Bankers Association President Frank Keating


President Obama hits new bank card fee - Mackenzie WeingerIn full populist mode, President Barack Obama on Monday ripped Bank of America for its new $5-a-month debit card fee - and was met with a stinging counter-attack from American Bankers Association President Frank Keating.

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Two faces, One joke

The President appealed to the electorates' hopes, aspirations and dreams in 2008. Since his inauguration, he has routinely thrown one message out to the public and worked privately to the contrary. One example, taxation. American Crossroads puts Obama's hypocrisy on full display in their new ad. There are two faces to this administration but it amounts to one sad, pathetic joke.