One for the big banks getting bigger

One more reason why your local credit union will soon be out of business, all part of the governments plan to concentrate power

Since April 1, the FDIC now costs a bank an additional between and ten and forty-five basis points as a fee on its assets. That is a payment the bank must make – any American bank – to the FDIC.

Few small bank or credit unions can afford this payment and mind you they were not the ones responsible for 2008, the rule should force only large banks who represent a systemic risk to pay the charge, since they are the one who caused the problems. Punish the law breakers not everyone.

But that is not the purpose of the rule, the purpose is what I wrote earlier, to concentrate power, more power in D.C. the easier it is to lobby, easier to control, easier to threaten, more likely to play ball, and more likely to be unionized, end game more power in D.C. Don't dismiss it as random noise from some government hater, just look around and see. You can't buy a Happy Meal in San Fransisco because the government does not feel parents are smart or strong enough to say NO to their kids, and they may have a point, the parents in San Francisco were probably the same people earlier in life who could not say NO to drugs during Nancy Regan's "just say NO to drugs" campaign either.There is precedence.

Venting

Fight the good fight
Dainel Plainview