A few points Mr. Duntz.
This fund is going to be bank-rolled by the large investment firms that aren’t covered by FDIC. Rather than Checkbook Tax call this the “Hedgefund Managers Checkbook Tax” since the majority of the burden will be carried by those big time wall street guys playing in derivatives, CDS, and other investments middle America doesn’t get involved in directly.
If you don’t want to pay for the investment firms to deal in their own casino, don’t bank with them.
Use your local banks that are covered by the FDIC.
If the big banks will raise fees leave them.
That’s whats great about competition and free market. If the fees get outrageous, Average Americans can pick up and leave and put their money somewhere else.
You don't have to bank with BofA or Citi. You can bank with your local bank.
Anyways, Luntz, you're a slug.....where's my salt shaker.