Why the Fed needs to replace bark with bite | Felix Salmon


First they encourage consumers to sign for debit purchases despite the fact that such purchases are much less secure; then they argue that they need high interchange fees because they have high fraud costs. This is financial chutzpah incarnate: the equivalent of the man who kills both his parents and then pleads for clemency on the grounds that he’s an orphan.

via Why the Fed needs to replace bark with bite | Felix Salmon.

Advertisements

Comments are closed.

%d bloggers like this: