Investors take the money and run...to the bank

An interesting article in the NYT about the explosion in prepaid debit cards. The card companies tack on a variety of fees, many of them hidden in unreadable fine print. These fees include activation fees, and numerous recurring fees including $1.75 for each A.T.M. withdrawal, $1 for each A.T.M. balance inquiry, 50 cents for each purchase, $4 for monthly maintenance, $2 for inactivity after 60 days and $1 for a call to customer service.

The investors in these services are clearly making off like bandits...the unsuspecting or uneducated or lazy consumers get the hit...Darwinistic behavior at its worst.