Most important, it has sent a message to politicians that voters will no longer be ignored. They are angry with the Government and they are doing something about it. [...]
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The Federal Reserve announced Thursday new banking rules, which require consumers to opt-in before overdraft protection fees are allowed on their ATM and debit cards. This is a huge win for consumers who are being soaked for close to $40 billion dollars in overdraft fees in 2009 alone. [...] As American consumers, 70% of the economy is based upon our spending. This makes us very powerful in some ways. It also makes us a target for aggressive sales tactics and deceptive marketing claims. [...] There are way too many complex derivatives products and they are often used to gamble for profits, instead of being used responsibly for hedging. Also, there are some highly leveraged and naked securities, which have such a high loss potential they never should have been legal in the first place. [...] The cost of our health care is unsustainable, considering the number of people retiring and others using Medicare services. If we don’t come up with some sound financial solutions, Medicare may become insolvent. Plus, there are an estimated 45 million people who are uninsured and medical costs are the single largest cause of personal bankruptcies. [...] |
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