Unintended Consequences: Financial Overhaul Bill Causes Banks to End Free Checking

The boatload of new regulations imposed on banks as part of the Democrats financial overhaul bill has put a severe strain on bank profitability. Since banks are in the business of making a profit, they are taking steps to shore p the bottom line. One of those steps is to end free checking. Every-time the government intervenes in private markets there are unintended consequences.

AP reported:

Almost all of the largest U.S. banks are either already making free checking much more difficult to get or expected to do so soon, with fees on even basic banking services.

It’s happening because a raft of new laws enacted in the past year, including the financial overhaul package, have led to an acute shrinking of revenue for the banks. So they are scraping together money however they can.

There is Less Support for Major Health Care Overhaul Now than in 1993

A report by the Pew Research Center has found that fewer people want a major overhaul of our health care system now than did in n1993 when Hillary Clinton failed in her efforts.
The Pew research Center reported:

As health care reform legislation moves forward in Washington, the political environment is somewhat different than the last time a major overhaul of the health care system was attempted sixteen years ago. In early 1993 the sense of a health care crisis was far more widespread than it is today – a 55% majority in 1993 said they felt the health care system needed to be “completely rebuilt” compared with 41% today. Health care costs were also a broader problem in 1993 – 63% of Americans said paying for the cost of a major illness was a “major problem” for them, compared with 48% currently.

The issue of limiting overall health care spending is also more prominent in 2009 than it was in 1993. Somewhat fewer today say the country spends “too little” on health care, and a larger share believe that limiting the overall growth in health care costs is a higher priority than expanding coverage. But overall, public support for guaranteed access to medical care for all Americans remains widespread.