2. Rein in Fees
Thankfully for the individual, Congress passed the Cardholders' Bill of Rights this week. It puts limits on when banks can raise interest rates and apply late fees. But we need to continue to fight onerous fees wherever we find them. Banks will still make tons of money charging anywhere from $10 to $50 for overdraft fees, wiring fees, money-order fees, check-cashing fees, fees to use the teller, minimum-balance fees, fees to use your debit card in a foreign country, account-maintenance fees, etc. And since "free" checking accounts don't usually earn interest unless you have an enormous balance, you might actually save more money by hoarding it in coffee cans.

And don't even get me started on ATM fees. Some banks charge up to $3 if you're not an account holder. Plus, your own bank may charge you for using other banks' ATMs. What's next? A $15 fee for establishing eye contact with a teller or to get some quarters for the laundry? A little relief from these expenses might raise confidence in the people who hold our money and give us a bit more to actually spend on goods and services.

3. Take Another Look at How TARP Money Is Used
While we're going cross-eyed looking for green shoots, Wall Street is busy going back to business as usual. The New York Times reported that financial firms are on track to pay the same bloated salaries they paid last year, with $36 million already set aside for employee compensation. I'm sure there's some complicated economic reason why banks are using their TARP bucks to pay themselves, but do we really have to pay for their lobbying costs too? This is the same lobbying that killed foreclosure relief for homeowners and resisted the Cardholders' Bill of Rights.

Jeez, at least at a casino, when you lose your money, you know exactly why. And you don't have to give the casino even more money to help them stack the chips more in their favor.

© 2009