Remember the market is a 6-9 month forward
discounting mechanism, and next year is election
year. In the spring are primary elections, and in
the fall the general election. Not to mention that
the banksters still won't be in jail.
There will be a lot of uncertainty to go around next
year. The market dislikes uncertainty.
Woody
BTW, I heard the CEO of regional bank Valley Nat'l
on CNBC today, and he said that banks "have to"
impose new fees to make up for the limit on swipe
fees for debit cards. He claims that bank investors want
earnings to grow, and the banks have to recover the
'lost' fees elsewhere.(higher interest on loans or fees
for paper statements, etc) I call BS! Since when is
banking supposed to be a 'growth' industry? That's
why all these banks are in trouble. They're not satisfied
with safe, conservative loan spreads and they take
way too much risk with OPM! They've ruined multitudes
of 'little guys', to line their pockets by lying, bait and
switch, etc. I clearly remember Fidelity bank begging
me to take a 'no fee' MAC card in '84, so they can save
money on paper, paperwork, keypunch, and have fewer
tellers, etc. And, MAC machines are open 24 hrs. for my
convenience. Then they decided to charge 25 cents/
minute for ATM phone calls, on their own private networks,
also for my convenience, I suppose. What's it now?
$2-$3 per transaction? Greedy bastards! Surely, there's
a special place in hell for them.
Rant off. |
