Wednesday, August 18, 2010
The new bank rules have begun. Banks are not allowed to charge fees for overdrafts unless the customer has declared beforehand that they will accept the charges. Here a vote for expanding the law to cover Congress. It is the same situation. If they have no money – and they don’t – they are not allowed to spend anything. They are currently overdrawing the country’s account and the taxpayers in the country will have to pay the resulting interest charges. I do not remember making the decision to accept these charges.