This afternoon, the stocks of credit card companies Visa and MasterCard were thrown under the bus as the Fed proposed a swipe-fee cap of $0.07 to $0.12 vs. the current 1-2% of purchase price!  What a dramatic impact on their business model.  Remember – If there isn’t a clear, near term story and reason to be in a stock, there is no reason to hold common stocks.

Two days ago, Visa stock was priced at $81/share and today closed at $67.19/share.  That’s a -17% haircut.  The credit card industry is certainly changing.

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