This Article is About
dollar charge
face book
jp morgan
closed doors
cnn
wild fire
taking responsibility
corporate america
greed
The Power Of Social Media
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The Power Of Social Media

Finally People Power

I was very interested to read the article written by the CEO ofChange Dot Comin CNN Mr. Ben Rattray recently. As most people have read in the news recently Bank of America was planning on passing on a five dollar charge on debit card use to their customers. The greed after being given a huge bailout by the government is to me beyond comprehension. The taxpayers have been hit enough by these banks especially since their own mistakes caused their financial problems in the first place. Giving mortgages and credit cards to people who did not have the income and/or the proper identification got them into this mess in the first place. Passing the cost on to consumers is the not answer. Taking responsibility for their own mistakes is.

Someone Takes a Stand

According to the article a young woman by the name of Molly Katchpole who is presently working two jobs to make ends meet was outraged by this coming charge, she is a customer of the bank. Through the social media network Face book, and others she launched a petition against this five dollar charge and it spread like wild fire, she received over three hundred thousand signatures on her petition. Change Dot Com got involved and the petition was presented to Bank of America and eventually the bank because of public pressure decided not to access the charge. Meanwhile other banks Wells Fargo, Citi Bank and JP Morgan who also considered adding the charge decided not to as well.

The Power of The People Through Social Media

Middle America is rising through protests and the Internet through social media power letting our government and corporate America that we have had enough. The people we vote into Congress have done nothing but argue and act like children getting nothing done for us. Nothing is going to be kept behind closed doors anymore once it's found out by one of two people it's on Tweeter, Face book and other means on to the Internet where the people can finally voice their views and raise their voices about what is going on in their country. It's our taxes that pay for the majority of these funding decisions and we should have a say in where our hard earned cash is going to.

Is Social Media a Good thing?

If social media is used is for information, keeping the public informed yes. To bully or harass people of course not, that is not what the intention of the social media was intended to do. Power of the people can be strong, very strong as we have seen in the last few months. The facts are we are not going back, businesses are using the Internet for research on consumer consumption, logistics, and trends. College students depend on it and law enforcement use it to map crime waves in different districts in their communities. Marketing affiliates are using it to promote products and e books. For people who cannot run around to libraries and post offices, stores and other places they need a car to get to it's a God send. As for social media itself, it can help someone gain friends around the world and learn how other people from other cultures feel about their world. We are entering a time of enlightenment, it should prove to be an interesting time for us all.


Street Talk

Sherry B.  

Until reading your article, I didn't realize that Bank of America was planning on doing this, which would then give other banks reason to charge this ridiculous fee also. So glad this was stopped with the use of social media sites!

Reply
  about 7 years ago
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