Monday, March 21, 2011

Bob Corker is absolutely correct on the bank card swipe fee issue

It is only a 2 year ban and it is only one of many ridiculous rules encumbering free markets in the financial industry but price fixing is NEVER a solution. Kudos to Bob Corker, Pat Toomey et al for taking a stand.

The retailers are upset because they see it as a short term win for them but as always it is the consumer who should make these choices and price fixing will give the consumer far fewer choices in the long run.