Rarely does a single quote offer such incredible insight into the ignorance of the speaker as the following statement made by Barack Obama this week bashing Bank of America for raising debit card usage fees:
"You don't have some inherent right just to - you know, get a certain amount of profit. If your customers - are being mistreated. That you have to treat them fairly and transparently."
The American Bankers Association said "it's disappointing" 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." You think?
QUESTION: Mr. President, why don't these companies have an inherent right to just "you know, get a certain amount of profit"? Since when did maximizing profits become something to avoid?
Such a statement can only be made by a socialist, an anti-capitalist, a communist, a progressive, a misguided liberal or some combination of all of them.
QUESTION: Mr. President, why don't these companies have an inherent right to just "you know, get a certain amount of profit"? Since when did maximizing profits become something to avoid?
Such a statement can only be made by a socialist, an anti-capitalist, a communist, a progressive, a misguided liberal or some combination of all of them.
Obama's second feeble point is that the inherent profit is not permissible if the customers are mistreated or there is a lack of transparency.
QUESTION: Mr. President, do you believe that, because of their name, “Bank of America” is the only bank in the country and that, given their monopoly status, citizens have no other choice where to park their cash?
Someone on the president’s staff should inform him that there are over 6,500 FDIC-insured banks in this country. The lesson here is that liberals think the populace is too stupid to make their own decisions without the help of government – buying health insurance, where to bank, what light bulbs to buy, etc.
Someone on the president’s staff should inform him that there are over 6,500 FDIC-insured banks in this country. The lesson here is that liberals think the populace is too stupid to make their own decisions without the help of government – buying health insurance, where to bank, what light bulbs to buy, etc.
Regarding the president's comment about transparency: What the hell is more transparent than announcing the new fees THREE MONTHS before they are implemented? Remember, this line of thinking comes from the President who promised to have the most transparent administration in history including the broadcast of the healthcare bill debate on C-SPAN. Instead we get a bill passed via "deem and pass" and "reconciliation" and no C-SPAN.
Finally, it is about time that the American people stand up FIRMLY and PROUDLY for capitalism. If not for capitalism, the American experiment would have ended a long time ago and the world as a whole would be a lot worse off. Those people who are trying to "fundamentally transform" this country are trying to squash capitalism and individual freedom – plain and simple!
Wake up America!
