Socialism In Action

Libs now have a bank they can actually identify with.

Here’s the deal: Pres Biden is now trying to reduce those pesky fees banks charge when you do things like overdraft your checking account, or are late paying your credit card bill.

We all know this will lead to banks losing tons of money due to bounced checks, and delinquent CC loans and such.

So Chase came up with an idea on how to finance this issue: make normal depositors (you know, the people who live within their means and make their payments on time) fund the losses foistered upon the banks through fees on just about everything else.

When you think about it, it’s socialism in action: from each according to their means, to each according to their needs.

Will liberals line up to do their duty to their fellow man by banking at Chase? Place your bets by commenting below. :wink:

No it won’t


Want to bet on that one?

Sure. Pizza bet. One year after adoption, we’ll look at the stats and determine if banks have lost a lot of money due to bounced checks, delinquent loans, etc.

Not one loser here has honored their pizza debt. Buyers beware.


Chase made almost $50 billion in 2023…. So I don’t feel for them.

What kind of pizza do you like? And is it Domino’s or Pizza Hut?

You will when you’re subsidizing the math challenged and people who don’t pay their bills on time. :wink:

Chase Bank has also committed wage theft of their employees on a scale of tens of millions of dollars.

I don’t know why people excuse away bad businesses like this

Sam’s Club!

Or Marco’s :slightly_smiling_face:

Oh, you want a paypal payoff so you can buy your own.

That’s cool too.

I would have just doordashed you one and be done with it.

Don’t matter to me.

Whatever’s clever :+1:

We have a while to figure it out.

So you don’t like socialism when it’s your ox being gorded. Interesting!

Chase Bank had to pay $920 million because of fraud that they did in the precious metals and US Treasuries market.

But yeah… let’s get mad on their behalf that they can’t fleece customers with overdraft fees.

It’s not hard to find “fee free banking,” so the law is pretty idiotic,
but a lot of banks do charge a ton of nuisance fees, not just on overdrafts and NSF.

They include:
Monthly maintenance/service fee
Out-of-network ATM fees
Paper statement fees
Account closing fees
Dormancy fees
Foreign transaction fees
and more.

It is socialism because it says, in effect, “I like strawberry ice cream so we’re gonna outlaw chocolate and vanilla.” Central gov’t decides on a one-size-fits-all policy, demonizing the greedy evil corporate capitalists who offer choices, and proceeds to outlaw choice.

It is exactly precisely the kind of instruction King George engaged in and Karl Marx loved.

It is exactly precisely what Adam Smith opposed (in his 1776 book) and what George Washington et al fought the Revolution to oppose.

I don’t think that people understand what Socialism is.

Regulating fees that banks charge isn’t socialism.

Marx wouldn’t be doing anything as milquetoast as lowering fees.

It’s like the concepts have no meaning anymore.

What Marx would do, and King George would do, and Joe Biden has done is to
1 Demonize private enterprise
2 Have top-down central planners dictate the one and only proper way of doing things
3 Require that no-choice one-size-fits-all method become the only choice available to consumers
4 Do so without making it an election issue or choice of any sort to the voters
5 Do so without any sort of Congressional approval.

The fact that the cent gov doesn’t actually own the banks means this not Communism . . . but it is still 100% socialism (King George-ism?) and exactly what George Washington and Adam Smith each spent the year 1776 opposing.

More simply put:
Fee-free banking has always been easy to find.

If you, a person or a corporation, give a Democrat enough money, he will demonize you business competitor, & outlaw his business model.

He will do so without consulting Congress and quite the opposite of doing what the people want, he will tell the people what to think about it.

What Marx would do.

Smash Capitalism and replace it with Communism.

Regulating bank fees isn’t any of that.

Are you being deliberately obtuse?