When Bank of America retreated from its plan to charge a $5 fee to its account holders who use debit cards, it was a victory for consumers. Bank of America’s announcement of the fee a month ago sparked widespread anger and was a factor in the birth of the Occupier movement.
Many on the left are suspicious and angry at corporations. A common theme among progressives is that the government is more responsive to the people because government officials are elected by and are responsible to the people. On the other hand, this view holds that corporations are responsible only to their officers and shareholders, people whom consumers have no voice in choosing. The Bank of America saga gives lie to this idea.
Read the rest of this article on Examiner.com: