Main Stream Media (aka "State Run Media") and the White House were recently trumpeting a meeting that Obama had with Credit Card companies, that he was going to reign in charges that the credit card companies were fostering upon credit card holders. What they did not report was how credit card companies were going to get around this. By raising the fees they charge the merchants for processing each card transaction.
Today in Dallas, TX I saw petitions at the check out counters of merchants asking the general public to sign those petitions that are to be sent to Washington DC asking for representatives to act stop the increases in the Merchant Fees. Good luck with that. Congressional representatives no longer represent the general public. They are nothing more than mindless Obama-bots who simply rubber stamp anything he wants.
Did Obama know of how the credit card companies were going to make up for reducing fees upon the card holders? Very, very likely. Obama and his administration are very deceptive. If they can come up with a plan that works for the credit card companies that they think will give them political points with the public but at the same time allows for under the table adjustments by the card companies such as the increase in fees upon the Merchants, then that is fine with them. However, those fee will be passed on to the consumer.
What Obama did anticipate was the public response by these activities by the merchants.
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