 |
| Commentator Michael Kinsley |
 |
| Illinois Sen. Dick Durbin |
What is a “Kinsley?” Attributed to journalist and commentator Michael Kinsley, it occurs when a politician commits a gaffe by speaking the truth. Sen. Durbin addressed a Nashville business forum this week and pulled a Kinsley. According to several news reports, Durbin told the audience the purpose of his interchange amendment was to make retailers more profitable. He also was quoted as saying, “That’s what’s behind this.” Make retailers more profitable? The Home Depot Chief Financial Officer must have blushed when reading that comment. Didn’t Durbin repeatedly take to the Senate Floor the last two years saying the purpose behind the government setting interchange pricing was to give “consumers” relief?
The October 1 effective date for the cap on interchange rates on debit cards is quickly approaching. This blog will resume following all developments closely on market and political trends. This will include any more “Kinsleys” from Sen. Durbin.
Durbin Pulls a “Kinsley”
Posts
