We're not opposed to a cost-based interchange. The problem is the banks got greedy and raised the rates just to make more money. If interchange was actually cost-based, it would effectively disappear. In Australia, the interchange rate is less than half a percent. And Canada is a great example: Business is thriving even though the interchange rate is zero.

Mitch Goldstone

Banks Based Cost Greedy Interchange Not Opposed Problem Raised Rates

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Greenspan is not going to wake up in June of next year and say 'I should have really raised rates more aggressively.' His legacy of price stability is pretty secure so I don't think the last six months of his tenure will destroy it for him.

I think Bigfoot is blurry - that's the problem. It's not the photographers' fault. Bigfoot is blurry. And that's extra-scary to me. There's a large, out-of-focus monster roamin' the countryside. 'Run, he's fuzzy, get out of here.'

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The creed of greed:

Great Revenue Every Everlasting Day.

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— Anthony T. Hincks

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Now that rates are moving up, we're seeing more aggressive offerings from banks.

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