Forget Google - It's time to break up the payment processing duopoly of Visa and MasterCard

submitted by magnora7 from medium.com

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[–]beermeem 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

I was just recently thinking this. It’s an extra governmental form of control much like the insurance industry. They each set many rules and limits simply to minimize “risk” and in so doing cut off a plethora of free expression.

I do my best by sticking to my Discover card as much as possible which is certain not as hard to do as it was 20 years ago. It also offers the plus of having by favorite my favorite customer service and relations not just in the industry but in almost any industry I interact with.

[–]magnora7[S] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

Yes the limits on government don't seem to mean much when corporations run most everything. I'd like to see anti-monopoly and anti-trust laws actually be enforced again.

And to see actual meaningful limitations on the revolving door between regulatory agencies and the industries they're supposed to limit. But how can we pass the laws when the lobbying structure and congresspeople are all basically in the pockets of these big money corporate interests? It's a frustrating situation for the American people to be in.

[–]beermeem 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

I mean honestly, I think the regulatory to industry revolving door is the worst. But, yes, there does at the moment appear to be a vice grip.