Lake Minnetonka Liberty

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Tag Archives: Dick Durbin

Congress Doesn’t Want to Give Up Its Insider Trading Privileges

President Obama’s plea to ban Congressional insider trading may poll well and have bipartisan support, but it’s already facing stiff resistance from lawmakers the morning after his State of the Union address.

On Tuesday night, the president spoke in no uncertain terms: “Send me a bill that bans insider trading by Members of Congress, and I will sign it tomorrow,” he said. “Let’s limit any elected official from owning stock in industries they impact.” The remarks were cause for celebration for Breitbart editor Peter Schweizer, who authored a 2011 book exposing Congressional insider trading, and 60 Minutes, which ran a widely-viewed segment based….

Read the rest at Big Government

Durbin’s Amendment: Handout to Retailers Is Why Banks Are Charging You More

On Fox Business’ Freedom Watch last week I sat down with Democratic strategist and former Chuck Schumer aide Christopher Hahn to discuss the “ Durbin amendment” to the Dodd-Frank Bill.  If you are unfamiliar with the attachment to the bill, you may nonetheless be feeling the effects soon enough in the form of higher banking fees from checking account maintenance to debit card usage.

Read the rest at Big Government

New Debit Card fee’s, thank a Democrat!

Yup! Honest-to-God truth, the Democrats, specifically Sen. Dick Durbin are responsible for having those fee’s put in place on your debit cards via the Dodd-Frank Financial “Reform” Law. That’s what price controls do, but the idiot Democrats just keep repeating the same actions while expecting different results, they just don’t get it, change that, are incapable of learning from history.

And to think, there are actually a great big herd of dumbshits out there that blame banks. You stupid simpletons! It’s your Democrats that did it! When can we begin to thin the herd? The stupid have clearly overpopulated again. Picked this up via Hot Air today:

Government imposes new price controls on an industry. Industry raises prices elsewhere to make up for the artificial cap on cost recovery. Government expresses shock, shock at the development. For those of us old enough to remember the 1970s, this seems like deja vu all over again…

Well said. On to the heart of the matter:

During the debate over the Dodd-Frank financial reform bill, when Democrats controlled Congress, Durbin insisted on including an amendment that had nothing to do with Dodd-Frank’s stated aims of stable banks and consumer protections. The Durbin amendment granted regulators the authority to establish price controls on what banks could charge merchants that accepted their customers’ debit cards as payment. The resulting regulations, which took effect Oct. 1, limit what banks can charge merchants to no more than 24 cents per debit card transaction.

Critics pointed out that banks, facing $6 billion annual losses from this change, would shift the costs of debit cards from merchants to bank customers. Sure enough, Bank of America and several of its largest competitors — including Wells Fargo, PNC, HSBC, SunTrust, TDBank, and Chase — will be imposing various new fees on their customers to make up for Durbin’s folly.

Like I said. Is it time to thin the herd yet? The stupid have overpopulated again.

Democrat Senator pushes for internet tax

It’s the party of tax and spend to the poor farm. Nobody should be surprised that a Democrat is looking for more taxes, that’s all they do and they do it well. Have you noticed during the last two years, there’s a tax on damned near everything. I hear breathing, walking, and staring in to space are next on the Democrats tax wish-list.

Let’s see if I have this straight. They bring us to the brink of bankruptcy, spend on everything they can possibly think of, even when they have no money in the bank, then they turn around and steal from us, expecting us to pay for their irresponsibility. String every last one of ‘em up with a rope around the neck at the nearest oak tree. Either that, or deport the bastards. I’ve had enough of those worthless, selfish takers.

A Democrat senator is preparing to introduce legislation that aims to end the golden era of tax-free Internet shopping.

The proposal–expected to be made public soon after Tax Day–would rewrite the ground rules for Internet and mail order sales by eliminating the ability of Americans to shop at Web sites like Amazon.com and Overstock.com without paying state sales taxes.

Dick Durbin of Illinois, the second most senior Senate Democrat, will introduce the bill after the Easter recess, a Democratic aide told CNET.

Dick Durbin, another worthless piece of shit wrapped in skin Democrat. They’re all the same. Tax and spend. They’re like locusts descending on the crops.