Economist: U.S. Banks Preparing to Charge Customers For Deposits

[boedicca]

This is just yet another indicator of the complete and destructive Transformation of American Values.

Part of what made our culture strong were the values of self-reliance, thrift, and self-discipline. ZIRP and QE, which mainly benefit Big Government Crony Rent Seekers and Regulatory Captors, have destroyed the ability of the middle class to save for the future. The only way to not lose one's financial assets to inflation is to engage in riskier investments than a traditional passbook savings account. The result is a big skimming of wealth from the middle class to the rent seeking one.

 

[CrusaderFrank]

We need to give government even MORE Control over banking

Yeah, that's the ticket!