Occupy Wall Street Movement Should Get Specific In Demands

THE DOCTOR IS IN _______________

LAS VEGAS- Hello America, and how is the world treating you?

The"Occupy Wall Street" protests are having an effect across the country. The sit-in has now been going on for days, and just today the city of Las Vegas has a group of protesters marching in support of the Occupy Wall Street group.

It has been reported by many media talking heads that there is no organization and no real demands by the Occupy Wall Street group. That might be so, but the demonstrators are on the right track if they begin to hold Congress and the lawmakers feet to the fire in order to affect change.

I would suggest that these demonstrations that are occurring across in the county are a clear showing that the masses are really fed up with the greed of Wall Street.

Let me express my disgust at Wall Street greed.

For one, lets look at the banks:

The banking industry received billions of dollars in taxpayer money bailouts but continue to squeeze each and every penny out of its customers, with the blessing of the Banking Committee in Washington. It appears to me the banking committee and many in Congress are more interested in the billions of dollars in contributions that they receive for their reelection campaigns as a group.

Congress made a few small tweaks to the regulations on the banks but did nothing really substantial to reign in the bankers greed. In fact, the banks retaliated for the small tweaks of regulation by using loopholes in the system to pass any losses they may experience due to new regulations right on to the customers pocket book.

Fact, Congress allowed the banks to continue to raise fees for most anything the banks wanted to construe as a fee. For example, most major banks are all following Bank of America's recent move to charge customers a whopping FIVE DOLLARS a month if they swipe their debit card. Some of the banks intend to charge $3.00 but you can bet that once they start the practice they will all get together and settle on approximately the same fee structure.

There are already some banks charging the customer a fee if the customer goes inside the bank and uses a teller to complete a transaction. What a rip off!

Folks, in the not too distant past the banks used to pay a fair interest on the funds that people had in their accounts, whether it be checking or savings. And, the banks competed against each other offering different interest rates to attract the customer. However, the banking industry got together and decided that if they acted in concert they could all agree to pay nearly zero interest and there would be no recourse for the banking customer. Now the banks are paying less that (ONE PERCENT) interest on a customers money while using the customers funds themselves.

I know that the days of 10% interest on a saving account, CD, or money market account are long gone BUT do I believe that the banks should be mandated by Congress to pay at least a "THREE PERCENT" interest rate to customers on their money that is on deposit in the bank? You bet I do. As it stands now the banks are not paying interest because they know that they can get away with it, with the blessing of the pandering lawmakers.

The Administration and Congress advise people to save money and it will grow. Are they kidding ? How can ANYONE save money in any institution if that institution is paying a lousy one-half of a percent on a customers fund in their bank?

These greedy bankers are using your money which they will not allow to grow because of the lack of any significant interest. They also have the audacity to ding each customer for fees that they make up as they go along just so they can continue to pay the excessive executive salaries and fill their pockets with our dollars. With the bankers taking your money in and using it for their gain an benefit and refusing to pay you a reasonable interest rate will deplete your money in their bank by leaps and bounds. You, the customer will never be able to save any money with the way the banking system is currently operating. Is it a scam? I would think it could be classified as one.

I would suggest that this "OCCUPY WALL STREET" movement in New York City and other cities across the country begin to demand specifics from our lawmakers in regards to the bankers, such as:

1. Insist that the lawmakers in Congress mandate that the banks pay at least THREE PERCENT ( 3%) interest on a customers monies that they have on on deposit in the bank.

2. Insist that the Congress take immediate action and review any and all fees that the banks are charging customers and get rid of all those frivolous fees such as:

(A) "a charge to see a teller." ( banks are supposed to provide customer service and a teller is part of that service.)

(B) Stop charging customers a fee of $2,3, or $5.00 a month just because they swipe their debit card. (The banks came up with these debit cards years ago with the idea that it would be easier for the customer to transact banking business. But now they use them for profit mongering).

(C) Insist that Congress return to the banking regulations that were put in place following the Great Depression. The regulations worked very well for decades until the lawmakers began to unravel them for the sake of monies from the banking industry.- And, that's my opinion. Make your own decisions. You decide.

Bradley W. Kuhns, Ph.D., O.M.D.
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Dr. Kuhns can be reached by e-mail at:
bradleykuhns@gmail.com