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Embrace Freedom!Jan 18 '00 Write an essay on this topic.OK, the issue about regulating ATM fees boils me like nothing else. Understand, people, that we regulate at our own perile! Governments that regulate their economies were the Soviet Union and Nazi Germany. If we ask for it, that's what we will get. Banks have every right to charge as much of a surcharge as they want. They put the machine there for their profit, not for our benefit. The banks take a business risk by placing an ATM machine somehwere, and they should have the freedom to try and make some money. If you don't like it, switch to a bank that doesn't charge ATM fees. There are plenty of Internet banks and small local banks that do not charge ATM fees. The key here is that the market must be allowed to work. If banks start charging too much for ATMs, people will find another way to bank. If this happens in a large enough scale, banks will stop charging high fees for the machines. Anytime the govenrment is asked to do something to solve a small group's problem (and unfortunately these small groups have loud voices) they end up hurting the rest of us in the long term. I am hearing similar tirades about the rising price of oil. The government should do nothing and let the market work. I wouldn't be surprised if oil keeps jacking that we soon see great and fast innovations in alternative engines. If the government gets involved, we will not see the inovations nearly as fast.  |
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