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John D

One thing that bothers me, is why the free market can't handle this problem. You would think that one bank could reduce it's interchange fees and the world of retailers would beat a path to its door. The rest of the banks would have to follow or lose business. Not sure why Congress is all mucked up in this, but then again I'm a pretty naive sort.


John D., it isn't a free market - it is collusion, and it is rampant.

A couple of anecdotal examples:

1. You will never find really high-end couture clothing on sale, anywhere. They would rather - and do - destroy it than compromise the mystique and give anyone the idea they can wait for a bargain purchase.

2. I hate to say it since middle daughter is in vet school, but it is extremely difficult to be admitted because there is a general agreement to limit the number of schools that are accredited, in order to keep salaries up.

Those are just very minor instances. I discovered much to my subsequent shock (there's a reason my little farm is named Wit's End!) that building contractors all lie, because they have to. If they tell the customer the truth - what it's really going to cost, and how long it's going to take - the customer will go with the contractor who lies. So, they are all forced to lie to be competitive. Okay maybe not all. I just have never met or heard of one that is honest.

John Andersen

I see this in professional carpet cleaning. The mainstream customer wants it cheap, good, and quick.

When you say you're the "slow carpet cleaner," that's perceived as bad even though it truly benefits the customer.

They just want a fast job with preferably lots of chemicals.

It's the Amurican Way, right?


So I had a back window in my car blow out. I scheduled replacement ($600) on a 19K car. Damn, somebody is making a buck there.

It took 2 hours to replace the window. I went into a Target across the street to waste some time. I walked around and the store reminded me of K-mart 5 years ago. Full of Chinese Ishit (tip to Dave). I was afraid to pick up anything in case it blew up!!!! So the swipe fee on my card cuts into profits of Chinese Ishit for Target. So sad.

Then I read Goldman Sachs had a perfect trading quarter (again). They were not the only one. I keep thinking, where can I go make a bet and get a guaranteed win? Now it seems to me they do not need a swipe fee.

How do I fit into this reality? As George says, they don't give a fuck about me.

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