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Politics : Actual left/right wing discussion -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (51)	9/5/2006 8:37:16 PM
From: cirrus	Read Replies (3) \| Respond to of 10087

But the government will set the rules that provide the protection, correct? Uh... somehow that doesn't inspire my confidence. The financial institutions will lobby to get the rules they want, and they will get what they want. I just read something in the US TODAY last week about overdraft rules... someone overdrew their account via a debit card. The banks are under no obligation the notify you of overdrafts. The bank covered the overdraft - for a $39 fee - and tacked on a $39 for each of the 12 following overdrafts. They then tacked on a $6 perday fee for each day the account was in an overdraft condition - the total came to over $500 in fees. That's robbery and hurts those least able to afford it and most likely to get into the overdraft situation in the first place. The corner loan sharks didn't charge that much for loans when the mob was into that business. I just don't buy the "mucho protection" statement. My idea is private accounts with mucho protection