According to a report released Tuesday by the nonprofit Center for Responsible Lending – it is officially ok to kick people when they’re down. Banks and credit unions profited by a whopping $24 billion in overdraft fees in 2008, a 35% increase from 2006! The report claims about 51 million people were hit with fees – meaning that one in six Americans were affected. This is all because, since banking deregulation, these institutions have gone from essentially being utilities to voracious, predatory corporations that make money out of money – and out of every little mistake you may make. We need to re-regulate the banks!
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. - Thomas Jefferson
You must log in to post a comment.