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 other banks are likewise imposing a slew of new fees as a direct result of the deeply flawed Dodd–Frank financial regulation statute. Among the more detrimental of the law’s provisions is the so-called Durbin Amendment (a la Senator Dick Durbin …
Imagine if 20 years ago on the south side of Chicago two thousand low-income, predominantly African-American families were given an opportunity to take their children out of failing and violent schools and send them to a school where they had a chance to graduate and attend college. What if this program had numerous studies that showed the students within the program were making statistically significant gains in reading? What if the program was so wildly popular that for every one scholarship that was awarded, there were four applicants? And then, …
Senator Dick Durbin (D-IL), the same Sen. Durbin who put the language in last February’s Omnibus spending bill to eliminate the D.C.Opportunity Scholarship Program (DCOSP), now says he might be open to reauthorizing the program. The Wall Street Journal Reports: I have to work with my colleagues if this is going to be reauthorized, which it might be,” said Mr. Durbin at an appropriations hearing Tuesday morning. He also said that he had visited one of the participating private schools and understood
