Ian Wyatt submits:

The banks win again, as yesterday’s Fed vote on interchange rules gave the banks more than expected. If you don’t know, interchange fees are also called “swipe” fees. It’s the money retailers pay when consumers swipe their bank cards.

The Rate had been $0.44, which is the highest in the world. The Fed had threatened to drop the rate to $0.12, but yesterday compromised on a $0.21 interchange fee.

We could have seen this coming. The Fed, the Obama administration, the Bush administration before, the Basel bankers — every regulatory body on the planet seems to talk tough and then cave when it comes to the treatment of corporate America (in general) and the banks (specifically).

On the one hand, it makes sense. Corporate America drives the economy, and also contributes to political campaigns.

But on the other hand, it’s definitely, disconcerting to see continued favorable treatment, especially of the

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