In addition to the fees they charge for loans, fees (often 20+%) they charge on credit cards, fees they charge for checking accounts, Bank of America, J P Morgan Chase, U S Bancorp, Citigroup make $20.5 billion off of the use of debit cards. This $20.5 billion is “free money.”
The debit cards automatically transfer specifically designated funds from one account to another. The only time a human is involved is when someone complains about a transaction. These $20.5 billion dollars that the merchants pay are actually a “cost” to the merchant that is computed and passed on to us, the consumer. In effect, we are paying a “NO value added tax” to the bank for everything we buy, regardless of how we pay for it, because the cost of the debit transaction is already figured into the price the merchant sets.
These fees average $0.44/transaction and the new “Consumer Protection Bill” would reduce those fees to $0.12/transaction. The banks are complaining that this reduction is going to cut drastically into their salaries and especially their “year-end- bonuses.”
With the full force of the banking lobbying and the newly elected GOP, we are about to get screwed again.
There was tremendous wealth in Jerusalem. Many of the rich [re]publicans and influential leaders resided in Jerusalem, not only in their houses, but their summer residences, their large parks, and their country estates. Their vast wealth reached unbelievable proportions in the days of Herod. These plutocratic families were powerful in government circles and “prided themselves in their excesses.” The gulf between the rich and the poor was immense and the very poor families were often driven from their homes to become the slum-dwellers of Jerusalem.
By the time of Jesus Jerusalem had become a parasitic city, lying in wait for the multitudes of pilgrims who flocked into the city in their hundreds of thousands at each Festival. At the Passover there would be at least a million visitors, and Josephus multiplies this figure by four.
Jesus promised the religious aristocracy that their “Temple would be left desolate,” and not a single stone of the Temple would be left on top of another that would not be thrown down. Not even forty years passed when it all happened, for in 70 A.D. the legions of Rome came, led by Titus, and the Words of Christ were fulfilled.
It is time to bring these banks down again.