Every day we have outrage after outrage against the U.S. worker and middle class. There is so much economic injustice, it's hard to keep up. Yet some stories are so outrageous you'll swear out loud and scare the dog. Such is the story of McDonald's workers being paid by debit cards instead of checks, forced to do so. An McDonald's ex-employee just sued over it:
We all know our vote doesn't count. We all know our government elected officials simply doe whatever corporate lobbyists want them to do and America be damned. But there is one vote that still seems to matter these days and that's your vote as a consumer. You just won. Bank of America dropped their $5 buck a month debit card fee:
Do you think the $5 monthly charge Bank of America announced for its debit card customers is all about squeezing the consumer? Think again. What we are really witnessing are the death throes of an industry – the Too Big To Fail Banks. These are the banks that, at the height of the housing bubble, acted like they were hedge funds. They expected to earn 20% a year on their equity, and they rewarded their top executives accordingly, with bonuses in excess of $10 million for the CEO. Now all sorts of forces are conspiring to drag these banks into the boring, and decidedly non-lucrative status of utilities, earning maybe 5% a year on their equity, with their income capped by government decree. The bank executives don’t like this one bit. They see themselves being sucked down into the quicksand of $100,000 annual bonuses, and they are fighting back with everything they’ve got, even if it means making their cash-strapped customers pay ridiculous fees for services that used to be free.
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