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OCT 19, 2007 1:00am ET

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The Debit Business Overhaul: Interchange, Overdraft, Exclusivity
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Viewpoint: Call Banks to Account for Aiding Abuses

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The auto industry's recent willingness to confront its labor unions should be a lesson to bankers that the moral hazard doctrine must be obeyed.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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