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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>HuffPo Expose on the Biggest, Ugliest Fight in DC: Debit Card Fees  | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="O3RnOf53Ve"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/huffpo-expose-on-the-biggest-ugliest-fight-in-dc-debit-card-fees.html"&gt;HuffPo Expose on the Biggest, Ugliest Fight in DC: Debit Card Fees&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/huffpo-expose-on-the-biggest-ugliest-fight-in-dc-debit-card-fees.html/embed#?secret=O3RnOf53Ve" width="600" height="338" title="&#x201C;HuffPo Expose on the Biggest, Ugliest Fight in DC: Debit Card Fees&#x201D; &#x2014; naked capitalism" data-secret="O3RnOf53Ve" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>If you want to understand inside the Beltway politics, proceed immediately to a superb article by Zach Carter and Ryan Grim at Huffington Post, "The Swipe Fee War". It is a meticulously reported piece over the number one fight in the nation's capital, which contrary to headlines, is not the budget battle but proposed regulations over debit card fees, otherwise known as "interchange" fees. As Felix Salmon, Katie Porter, and Adam Levitin have written, the reason this battle is so hard fought is that it pits two big spending constituencies against each other: banks versus retailers, or as one Senator broke it down further:   The big greedy bastards against the big greedy bastards; the big greedy bastards against the little greedy bastards; and some cases even the other little greedy bastards against the other little greedy bastards</description></oembed>

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