Ted Rall for November 04, 2011

Transcript:

Faced with outrage, bank of America has canceled its planned $5/month debit card fee. (Man: OK, we get it.) The new fees were an attempt to replace revenues lost elsewhere. Now, experts say, banks will raise other fees. (Man: I will be slow and gradual, but they will bring those revenues back. They... have to hide the fees and the customers will have to pay.) Joe Gillen, Bank Consultant. If companies have a God-given right to replace lost income, surely individuals ought to be able to do the same. (Woman: My bank is screwing me with fees. To make up for my lost revenue, I'm charging you a "crappy boss" fee.) For example, people could give themselves unilateral price breaks at the pump. (Man: Sorry. I can only pay $2 a gallon.) We could give ourselves raises. Like CEO's do. (Woman: No, my job performance will not improve. I'm taking an extra 10% to make up for the under-reported inflation rate.) Eventually, things would come full circle. (Man: I'm paying myself a higher interest rate on savings to make for your higher hidden fees.)