As if further evidence actually is needed, Bank of America on Thursday demonstrated yet again how government price controls inevitably harm consumers—and low-income consumers the most. In this instance, the nation’s largest bank (by assets) announced on Thursday a new $5 monthly fee for use of a debit card. Several …
Federal Reserve chairman Ben Bernanke has delivered yet another ominous prediction about Dodd–Frank fallout, telling the Senate Banking Committee last week that government dictates on debit card fees “could result in some smaller banks being less profitable or even failing.” Although not the first to recognize the problem, the Fed …
In the week leading up to the G-20 Summit in Toronto this weekend, German Finance Minister Wolfgang Schäuble has added his voice to the growing discussion about the United States’ recession spending spree. In a response to President Obama’s call for further international recession spending, Schäuble stated “governments should not …
