Re: dealing with CCOs

[GGard97342@xxxxxx]

In a message dated 28/02/01 01:25:30 GMT Standard Time, mosler@xxxxxxxx
writes:

> I would also suspect that those with enough wealth to use banks pay
>  more actual $ in bank charges (some 'hidden') than 'the poor' lose in
check
> cashing
>  fees.

This is precisely true. The endowment effect on the checking deposits of the
rich pay much of the cost of the whole money transfer system. The poor,
whatever they pay for banking, are surely being subsidised. Bankers, like
most other professions. operste on the "Robin Hood Principle."

Geoffrey Gardiner