[461] in Privacy_Forum
[ PRIVACY Forum ] Tipping Point: Banks to Taxpayers: "We Own You!"
daemon@ATHENA.MIT.EDU (privacy@vortex.com)
Mon Apr 13 15:50:39 2009
Date: Mon, 13 Apr 2009 12:34:24 -0700
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[ This is arguably not an item *directly* related to privacy.
However, given the complex manner in which our personal financial
issues and situations are communicated between financial institutions
and other firms without our permission or knowledge, I feel
that there is a strong privacy component to these increasingly
drastic and clueless actions by these institutions.
-- Lauren ]
Tipping Point: Banks to Taxpayers: "We Own You!"
http://lauren.vortex.com/archive/000544.html
Greetings. Bank of America is in the process of busily notifying
credit card holders of *massive* interest rate hikes --
apparently in "small groups" of *only* about four million at a
time -- so as not to inundate the call center reps who would otherwise
have to deal with the righteous indignation of all the shafted
customers at once. Bank of America was of course another winner of
the "bundles of bailout billions" from taxpayers.
To say that these guys still "just don't get it" would be a colossal
understatement. They continue to live in Fantasy Land, apparently
convinced that if they just pretend that everything is "business as
usual" they can successfully keep following "standard operating
procedure" by squeezing every last drop of blood from customers and
taxpayers -- and somehow nobody will notice.
But hey there banker guys -- Congress is finally starting to really
notice what's going on -- thanks to untold millions of angry
constituents screaming for *your* blood. And Congress tends to react
in knee-jerk ways that indeed may often be ill-advised, but could
still alter your lives as effectively as a discount castration.
The world has changed. Keep pulling these stunts and you're liable to
find out firsthand how Huey Long came to power so many years ago.
Your present course may drag this country -- and probably the world --
into a popular uprising that would certainly be damaging to you, and
most likely create one hell of a mess for the rest of us as well.
A serious attitude change in your entire way of doing business is
called for. Get with the program. Show some balls -- while you're
still permitted to have them.
--Lauren--
Lauren Weinstein
lauren@vortex.com
Tel: +1 (818) 225-2800
http://www.pfir.org/lauren
Co-Founder, PFIR
- People For Internet Responsibility - http://www.pfir.org
Co-Founder, NNSquad
- Network Neutrality Squad - http://www.nnsquad.org
Founder, GCTIP - Global Coalition
for Transparent Internet Performance - http://www.gctip.org
Founder, PRIVACY Forum - http://www.vortex.com
Member, ACM Committee on Computers and Public Policy
Lauren's Blog: http://lauren.vortex.com
Twitter: LW1
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