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.
Seriously do any of you socialist have any facts about anything or is all you can do is call people names. And you pretty much are insinuating you'd like to kill Frank Luntz, and yet the left calls out swat teams for tea party grannys ??? The only Radical Extremist who promte violence in this country is, well people like you. Have a nice weekend comrade.
ReplyDeleteIsn't JP Morgan going to have to pay into this? And hasn't Jamie Dimon already threatened that this will be immediately passed on to the consumer?
ReplyDeleteYou're right, we have a banking choice and if we don't exercise it, that isn't TBTF's fault. Still, some FDIC-insured banks also get their gambling subsidized by the government (i.e. you, the taxpayer).
How, "Luntz, you're a slug.....where's my salt shaker."
ReplyDeletebecomes
"And you pretty much are insinuating you'd like to kill Frank Luntz,"
is beyond me.
"Still, some FDIC-insured banks also get their gambling subsidized by the government (i.e. you, the taxpayer)."
ReplyDeleteTrue, no system is perfect but for the sake of this law, the fees the big Wall Street firms will pass onto others they deal with when helping underwrite, brokerage fees, etc won't trickle their way down to main street for the most part.