Unreasonable cost to the system credit cards!!

Total cost of credit cards is exorbitant in our system.It is sad that 2 percent of our money disappears for just organizing this payment system.I am not talking of high interest rates on credit cards i am talking about high fees charged for handling credit card transactions and them going higher as more technology becomes available.

It is time that government participate and bring the cost of it down. As consumer credit is on the agenda hidden costs and unseen expenses of cost more to the nation. All money wasted or not properly utilised make us collectively poorer.If we are spending 3 000 billion in US with credit cards (30% of GNP). two percent of that is 60 billion dollars per year .That is a hidden cost of 200 dollars per person to the nation.
While we are reducing this cost interest rates on credit cards should be tied to no more than 8 percent above the 5 year treasury bill.This will also reduce cost to the nation .

At this time while we have bailed out many of the financial institutions we should bring the reforms to bring agility and reform to the system.I do not understand the Goldman Sax model it has cost us even while it might have made money to stock holders.We should hire Michael Milken to help understand the system or Mr Larry Summers would you explain please.