By Irving Leemon
Let me get one thing straight, I’m not against greed in and of itself. We all want bigger and better things then we have now. I’m against the manifestation of that greed by some of the wealthiest companies, their board members and CEOs, and some individuals. I’m using banks as an example today. Not satisfied with the other charges that they place on depositors to track and get their money, Bank of America decided to charge a monthly fee of $5.00 for using debit cards.
Their attempt to charge the fee for the use of debit cards is just one example of the unbridled greed for money and power that is alive and well in this country. B of A and other banks already charge businesses for the privilege of using this service for their costumers. First, banks placed themselves in the position of handling most of the money in the nation and world. They made money mostly by lending other people’s money to individuals and businesses. while paying the depositors a small portion of the profits. Then they decided make it easier for people to access their money by supplying checks. Next they started to charge for the use of those checks.
Then, after getting people used to the idea of leaving their money with others, the banks thought it would be a great idea if people could use cards that they issued to charge their purchases. The idea was to let people buy things they could not pay for with cash now, and allow them to pay back the money over a period of months (a loan to the customer). Of course, the businesses received their money minus a service fee for this service, as well.
In addition, they thought it would be a good idea if there were an interest charge for any money owed and not paid back at the end of the month. Next, the banks came up with the idea of having debit cards, and we all know what’s happening with charges for their use. Of course, we cannot forget the Wall Street firms, mortgage companies, and individuals, and what they have done to the economy. Now we have an apparently leaderless group demonstrating across the country because they have been cheated out of house, home, and jobs to pay for food, clothes, education, and other necessities’ of life in our society. The thing that bothers me is that their anarchy can spread and destroy this society, instead of fixing it.