A Liberal In The Midst

***** Remember to click older posts to see additional posts. Please click on the title link for a little background on this post. Thanks.**** Short post. WTH is going on in D.C.? What is going on with my fellow Americans fighting to maintain the profit margins of banks? I recently had someone attempt to argue to me that we needed to protect the rights of banks to raise debit processing fees. The argument was not raising the fees would cause small banks, small towns, and small businesses to fail. I was lost. I read the posting several times but could not grasp how the user came to such logic. When did banks depend on debit fees to run their operations? I always thought banks made most of their money on investing in venture enterprises and in loaning money to customers. The interest rate for inter-bank borrowing is less than 1% but to the consumer the rate is is still well above 3%. The posting had me lost and confused about the defense to save the banks. This man was arg...