Mastercard and Visa to pay $6 billion for price fixing

MasterCard Inc. and some of the biggest U.S. banks agreed to a settlement of at least $6.05 billion in a price-fixing case brought by retailers over credit-card swipe fees

In a country with actual rule of law, price-fixing of this magnitude would result in folks going to prison. But that silly rule of law thing is considered just so last century by the 1% here in the US and is most certainly not a part of the Obama agenda. Putting financial criminals in prison would be bad for business, for the economy, and might hinder a steady flow of campaign “contributions” from banksters.

So it’s on with the show. Mastercard and Visa promise to sin no more and, quelle surprise!, little or none of that money will be trickling down to those of us who actually use credit cards.

Mark my words, banana republics will soon start making fun of us. Because really, laws are just for the little people.


  1. We really need to start putting these people in jail. It’s the only clear message they will get. Otherwise I might start committing crimes just because I know that all I’ll have to do is pay a fine and no jail time. I’d call that the cost of doing business.

    • Well then, make sure your crimes reach into the billions of dollars. Then you’ll be sure not to be arrested. But don’t steal a six-pack from 7-11 else you’ll do time.

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