Comment: Comic book debate?

My daughter just opened her first savings account with "free" checking.

No fees?

So I go along for the comic relief.

At the end, just before my daughter leaves with the papers, and the card, and the thanks for doing business I ask the following question:

"What is the effective interest rate on the savings account?"

My daughter gives me "the look".

Up to that point, just before leaving, the subject of any interest rate is interestingly absent between paying customer and service provider for pay.

The bank employee, nice guy, fun guy, becomes somewhat more serious, and repeats. "Effective interest rate." and he starts looking for the records.

I say: "Yes, the interest rate minus the rate of inflation."

The bank employee looks more interestingly serious, and his eyebrows raise some.

My daughter gives me the back of her hand.

The nice guy dismisses the inflation rate comment outright and he goes for the interest rate figure and offers the bad news to my daughter, well, it turns out that there is a reason why the interest rate is not given up voluntarily as it is .01 percent.

Debate?

Really?

Quotes:

"Why isn't defaulting on the debt part of the debate? Can we shift the parameters debate so it is?"

Hello! Hello? Is there anyone out there?

The so called Debt in question is in fact a well documented crime spree in progress called fraud and extortion.

Play the comic book debate and what do you think it will cost?

Who do you think will be paying the bill for playing the comic book debate?

How about growing up instead.