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October 07, 2011

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I think it's how the transparency of the Internet works. I used to keep an online diary (back before the days of blogging). If you were to go back and read it (it's all still there) you'll see that it's very negative. Maybe its because I was in a much different place in life, but everyone else keeping online diaries at that time was also mostly negative. We love to whine and have people feel sorry for us, I guess?

FrustratdWriter

I know some people have good intentions and righteous indignation. And yes, companies can get greedy and go way overboard sometimes, and they need consumers and their investors to rein them in. But that means that consumers/investors need to pick their battles and use their voices **wisely**. I also feel this has gotten out of control.

I think some people forget: Businesses are in business to make money -- not give you things for free (or next to free.) They also have employees and responsibilities to take care of, in addition to having to cover the expense of providing a good/service. And if we are talking about a publicly-traded company, their investors also expect them to make a profit (and all of our 401K/investments, etc., depend on that too.)

It makes me crazy when people buy $3 socks at Walmart and think that's reality and everything should work that way because the reality is -- that stuff was very probably produced by slave labor, or near-slave-labor. A lot of us are completely ignorant of the true costs of production for a good/service -- we **say** we want companies to pay truly living wages to their workers, respect environmental standards, live up to legislation that governs fair penalty charges, etc., etc. ... but then we complain like crazy when a streaming video company changes its rate structure. OVER. IT. Personally, I don't want to watch my money disappear either... but I kinda wish I knew a lot more about whether my money was supporting things I believe in, like child-free and voluntary labor, environmentally responsible/sustainable production, living wages, etc. That way of pricing & operating is NOT the standard, and that's scary to me. To me, this is a place where I wish investors and consumers would start holding more companies accountable, and using their voice. It's important.

In the same vein -- Honestly, I also get tired about people bitching about paying taxes, and acting like taxes should be $0. Yes, I don't want to pay a lot in taxes and will vote against ones I don't like. But please -- we live in a (relatively) civilized society. There is a price tag associated with maintaining that. If someone wants to live in a lawless society free of tax burden, they can go live in a super slum in Southeast Asia, or perhaps a warlord-owned section of another continent (where they may need to pay bribes just to stay alive), or perhaps an island that'll serve as the perfect set for Lord of the Flies.

People forget: There is a price associated with having things. Whether it's government or business, it takes people and resources to make things happen. And there is a price tag associated with that, whatever "that" is.

We get what we pay for.

Cory Ellen

I don't necessarily agree with people squawking over facebook or Netflix changes, since they are affordable or free services that provide something meaningful to the user.

I would disagree with the BoA example, though. The banks needed a huge bailout because there was and is something inherently wrong with the way the banks are structured and linked to the government, not because consumers weren't paying enough fees. The banks created the problem, took billions of dollars from the American people to fix the problem (because they are "too big to fail"), and immediately tried to turn around and give a substantial portion of that money to their CEO's as bonuses: good job on ruining the economy, more money for you! At this point, the consumer rightly suspects something fishy when the banks ask for more money, because historically they have abused our trust. So it's kind of about a $5 fee, but I think it's more about the fact that consumers feel burned, and thus very hesitant to feed more money into a system that clearly values its own financial gain over the well-being of its customers. In the long run, $5 is not a lot for an individual, but $5 x 12 months x millions of debit users = tens of millions of dollars for BoA every year, and that is significant. The fee is more a symptom of a systemic problem than a problem in and of itself, and I don't think it's wrong or a mark of entitlement to be concerned or frustrated about that.

Jay

I think people are skeptical of the big banks, but we're naive if we think they are simply service providers and not for-profit companies. And I confess: I wasn't making a lot of noise to my congressman as bills to deregulate banks and make M&As easier. If someone if making cookies I don't want but I don't speak up, I get cookies I don't want. I can whine about how I wasn't asked, but if I had any influence (and voters do), where was I?

Airlines are the same. All I see is people complaining about added fees. I wonder how all these occasional flyers would profitably run an airline. I think they might find things a bit more complicated than they assume...

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