Posted on 03/06/2008 2:42:54 PM PST by hardknocks
Duh! It’s election year. Beware!
Our congress critters will be falling all over themselves to show they are “working for us” (and in bipartisan fashion, no less).
Somehow, I doubt it.
You mean there isn't such a thing as a free lunch?
You mean Hillary-care won't be free? Next you're going to tell me that granting no permits to build nuclear power plants for 25 years, ANWR, and setting up ridiculous bureaucratic hurdles to obstruct the building of refiners for many years has consequences too?! You're crazy!/sarc
There isn’t any competition now. It’s Visa and Mastercard or you go out of business.
You are affected whether you use cash or credit. The costs associated with these fees are passed onto the consumer by the merchant, so the price of the product is adjusted for everyone, not just the folks who use credit.
So, you want government to set the price, de facto or de jure? What a conservative you are! What a free market advocate!
Uh no. This legislation wants the fees to be transparent so that there can be actual competition.
Hidden fees? Is that a conservative policy now and I missed a memo?
No kidding? You mean I have to help support all the blood sucking leeches of society? Wow, woulda thought?
Thank goodness John Conyers, and all the other do-gooders in congress are there to save me from my plight, what would I do without them there to save me from myself?
i agree whole heartedly debit card use is moronic...why not use the other guys’s money for 30 days free....? duh. ALSO
i try to buy things at the top of the credit card billing cycle that way i am able to use a product a long long time
and if it’s defective i call the c c company and tellem im protesting the purchase....does all this make sense to everybody?
Want transparency? Then just mandate that current and new fee agreements are made public. That’s NOT what this bill does, per the linked pdf. This bill sets fees for all merchants and all credit card companies via judicial intervention OR the threat thereof. In this area, at the very least, the idiots Cannon and Conyers want classical fascist socialism, wherein there’s NO COMPETITION and the state determines the relations of production.
The legislation isn’t trying to do away with the fees.
???
Are you referring to the graph? The one that states “voluntary negotiations”?
That is not what this graph states.
So we are supposed to believe that if the Gubmint puts the kabosh on these interchange fees, retailers will pass the savings along to consumers? Riiiight.
Makes sense to me! :-)
Labeling negotiations as “voluntary” doesn’t make them voluntary. Note the threat of government intervention on the flowchart.
That use of language is an example of how corrupted, misleading, and stupid congressmen and their staffs are.
Nah, that doesn’t say that at all. The panel of judges could very well be professionals in the industry.
No idea until we read the actual language of the legislation.
To stay competitive they will.
Dear Lovebloggers,
Trust me, I have only your best interest at heart.
BTW, try to convince others of that too.
Thanks,
John Conyers
Yeah I know, I don’t trust him either. That said, I am open to hear more about this. Transparency is not something I am opposed to.
Oh, yeah. Your government-designated price-fixing panel will do a great job. Do you have any clue about the history of regulatory economics?
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