Pumps' Perplexities

After the Savings Bank Scandal of the mid-80's, financial
institutions had to find a way to make money rather than
losing it in bad investments.....So, since they realized that
their "customers" HAD the money, they would start to
charge "fees" for this and that......A sure way to make
money from someone who had it, in the first place.......

I suspect that the banking industry, along with their credit
card business, make more money from "fees" than they do
from "loan interest".......It may be a "nickle and dime"
operation but it all adds up in the end.....

As the years go by and "fees" become profitable, other
companies are getting into the act......The latest one I can
report on is my cable company......Now, if you want to pay
your bill by telephone (I guess with a credit card), it will
cost you a "fee" of $4.95.......

If the transaction takes 5 minutes, that means that a
"service representative" can handle 12 transactions a hour.......
Total $59.40 in "fees".......Payroll cost, with benefits, to
the employee should be about $15.00 per hour.....Total
profit to cable company $44.40 per hour.......

And the company's cry that they are losing money.....Pumps