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Watch The Fed's First Live Board Meeting Telecast, Discussing Debit Card Interchange Fees
Today at 2:30 pm the Fed will hold its first open to the public and telecasted board meeting. But before readers get excited (except for shareholders of Visa and MasterCard) nothing of particular significant will be discussed. The topic of the meeting will be "proposed rules governing debit card interchange fees and routing" and nothing that actually has a bearing on the future of the nation. On the other hand, based on the just released statement which recommends proposing two alternative frameworks for determining 'reasonable and proportional' interchange fees, V and MA are certainly being impacted. Nonetheless, for all who wish to see the Fed's board member live and in action, this is your chance.
The webcast can be seen after the jump.
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There's no link for me...
click anywhere on the image...
frozen here too ?
While working for a small 12 branch bank for 9 years, somehow I got roped into handling the credit and debit card operations. Supposedly it was my area of expertise since I was a financial advisor. In a small bank you wear many hats.
Anyway, I was amazed how extremely profitable it was to the bank when it's customers used their debit cards as a signature card rather than a true debit card where you enter your PIN number at the point of sale. This was why Visa and Mastercard encouraged people to push "credit" and sign when using your debit card. The fees charged to the retailer were nearly as high as a credit card transaction with very little risk to the bank. Almost pure profit for Visa/Mastercard and the bank.
So expect to see the banks fight lower fees tooth and nail.
Switching to cash has never felt so good. It is wonderful to starve the banksters of any fees that I have any consent over. While I do not like FRN's per se, I can say with assurance that I like the anonymity of those notes, as opposed to digital money.
KNow all about them from the inside.
they are just another couple of scammers using extortion and politcally driven favors to rape businesses and peeps.
They are looters of a high order.
I must say though that the rewards have been sweet.
Oh well, everyone has their faults>)
http://www.ustream.tv/channel/federalreserve
http://www.ustream.tv/channel/federalreserve
Can we send comments into the board room through ZH? Please.....pretty please. I'll watch every word of it, transcribe it for all of you so that you can skip it, if you can just hook me up, Tyler.
I promise to be a good ZH member every day all the way through Christmas, and I promise to contribute to the site when finally $9 burritos meet $2 burritos and the 2 buck boys win.
Let me know...because otherwise I have no idea why a person would watch The Bernank talk about credit card whatever. That would be like watching Hitler on a cooking show, or perhaps listening to Mario Andriette on on the radio talking about going maple syruping...right?
Amazing, the FED has its own flag!! Just like a separate nation state.
because it is
What is it? Skull and Crossbones?
the topper on the pole:
Eagle (War) for the US. Ball (Peace) for the Fed.
Pay attention here folks. Long time ago I read an article on a Fed meeting here on ZH, where the Genie-US Alan Greenspan said something like the basement of the NYFED was German territory. If true, werid implications.
ORI
http://aadicvaahan.wordpress.com
that is where the German gold stockpile is stored due to the treaty from WWII
isn't this what Ron Paul wanted? man you people need to quit dooming...
Ben is the man!
toathis,
Not much to comment on here...other than to say that this is an odd comment coming from a baby.
t
you don't know your ass from a hole in the ground.
This has nothing to do with RP or his wants, I assume you understand that or in your case .............
Looking at the big curly tart with the glasses I would like to propose "austerity now!" in the USSA.
The benefits to the health care program will vastly outweigh (pun intended) all negative consequences of austerity.
LMAO
dupe
What do you mean, "nothing important" is going to be discussed? Tyler are you out of your mind? Didn't you see on the agenda that they will be exchanging holiday punch and fruitcake recipes? Now for once and all the whole world may finally have the transparency about what is actually in the kool-aid they've been drinking. This is a GROUNDBREAKING, historic occasion!
Oh, and it's "all good for stocks"
Mafio Moll Maria needs more black eye liner.
Dog n Pony show. How about the Fed let us watch their meetings 100% of the time, instead of in secrecy.
imagine the radical ideas the kick-around in there.. Hoenig sitting there shaking his head, Bernanke on the spend-spend offensive. It's like a club-house for econotards.
The FED appear to be worried about something as they've now embarked on some sort of stomach churning PR drive. The 60 minute interview, where a welcoming Bernank opened the doors to the FED and now live board meetings. Obviously want to deflect some heat.
its called 'watch my left hand... are you watching??" while the right hand is busy picking you pocket.
Fucking useless pricks in the service of Obama and his handlers.
Very sorry to have missed the Fed's new romper room webcast.
Did the Fed show end with someone holding a mirror?