A couple things happened recently that give me hope - hope that regular people can affect change. And hope that some will see that the market, not regulation, is the best means for protecting business and consumers.
You'll recall, Verizon announced it was going to start charging you to pay your bill online….two bucks each time. I thought the point of paying on line was to ease the process for the company, but Verizon attempted to turn that into additional revenue. Fortunately, their plan didn't last. Almost as quickly as it was announced, the backlash started, and the company caved.
Bank of America took a little while longer to decide to drop its ATM usage charge for its customers. But eventually they came around and realized the extra cash wasn't worth the bad press or loss of accounts.
This is great - the American way. The customers spoke and the businesses listened. They both acted in their own interest. And in spite of some anxious bureaucrats wanting to jump in and fix it for everyone, they didn't get the chance.
The system worked just the way it's supposed to.
That's my turn. Now it's your turn. To comment on this segment, or anything else, email me at email@example.com.
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