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Wall Street Wants Another Bailout!

Wall Street's demanding another bailout:  The big banks are urging Congress to block a new rule that will save small businesses and consumers $14 billion dollars. New regulations are about to go into effect to prevent banks from gouging merchants who accept debit cards -- and who are forced to pass the cost of bank-imposed debit fees on to consumers.

That change will save us billions -- and the banks think that's bad.  After getting bailed out with hundreds of billions of dollars, they had the nerve to write to Congress to complain that the "proposal only allows a very limited return on each debit transaction, so limited that it would result in a 70-85 percent cut in revenue – a loss of revenue amounting to more than $14 billion." 

That's great news: Billions less for the banks means billions more for ordinary Americans.  Will you sign our petition to Congress?  Urge them not to cave to Wall Street's newest demands for more of our money:

TEXT OF PETITION TO CONGRESS:  We've bailed Wall Street out with hundreds of billions of dollars -- and they keep coming back for more.  Don't let the banks bleed us dry: Stand up for consumers and implement the new debit card regulations.

Just sign on at right and we'll make sure Congress gets your message.

Here's a recent Wall Street Journal article on the fee caps.