What ever happened to the FTC?

I can still remember Jack Mitchell's face when he found out about the FTC action against Du Pont over an anti-freeze commercial.

As a rookie Remington Arms Company advertising man, anything that happened to Du Pont, happened to us. Du Pont owned us.

The Federal Trade Commission brought an action against Du Pont because "we" forgot to tell a customer in very large print, that before they put in our anti-freeze, they had to put out their old anti-freeze. If they didn't, crystals could form in the engine and block coolant flow. That would eventually make the engine terminal.

The instructions were on the package but this product was being sold to guys. Guys read small instructions? Not in the FTC's lifetime. After challenging that claim, the lawyers started to challenge every claim.

"I am allegedly Jack Mitchell and I am here to make a point, not in writing, but a point none the less, that all claims must be submitted to the lawyers before we can publish anything!" It was hell for a while but finally, the issue was settled and things moved on.

That doesn't happen anymore. The FTC has gotten old like most of us and has beat most of us in the aging war. It has become toothless. You can tell by what's going on in the banking industry. If you are late on your credit card payment, all credit cards are going to charge you a higher rate. It's there in the fine print and it is called Universal Default. What? I thought when all companies decided to take the same pricing action, that was called price fixing? Pass the mush to the FTC.

Let's not forget, the banking industry has exercised moral oversight of the American checkbook for years. Little by little, they have raised the price for that service. Write a bad check and you pay the bank $35. (They get away with charging these high extortion fees because they know most folks will be to embarrased to raise a stink.) How much did the bank pay us for the bad checks they wrote in 1929; the South American Loan Crisis; the Saving and Loan Crisis; and the mortgage crisis now in the works? Not a cent.

Americans have put up with these well dressed thieves for too long. They have bought our politicians. They have bought the FTC and other similar organizations at the state level.

Maybe it is time for a refund...say a class action suit? They are not any more entitled to collect "morality" fees than Jim and Tammy Baker. Any lawyers out there willing to raise a stink with these thieves?