Consumer Sovereignty Illustrated
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Saturday, May 21, 2011
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
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- What Recession? Miami Tourism Soars in 2010
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4 Comments:
We went to Commerce (now part of TD) after our Bank changed hands and increased fees. Seven day openings are great.
Too bad consumer sovereignty can't do something about high ATM fees, minimum balances and the bank's role in giving too many bad loans (it wasn't just the CRA although that is a bad policy).
Is there a reason, other than political, why we need the post office today?
Bernie, why do you pay high ATM fees? I don't - I can't stand them! My bank doesn't charge me to use their ATM, so I plan out my cash withdrawals judiciously.
As for min. balances, not every bank has them. Why aren't you shopping around?
Banks HAVE to make money somehow. When interest rates are low, it's got to come from fees.
Bad loans? Stupid banks that made bad loans should have been punished for it. Instead, they got a shovel full of money thrown at them from the government. If you had a child who did something bad - say stole money to buy a toy, and you gave them candy, do you think that child would ever change their ways? No. It's that simple.
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