Thursday, October 9, 2014

When Does $105 million Equal "Hundreds of Millions"?

AT&T to Pay $105 Million for Bogus Charges

Apparently our Federal Trade Commission (FTC) thinks that their settlement of $105M against AT&T will deter similar big businesses from bilking us for bogus charges. In the the AT&T case, customers were bilked for "hundreds of millions" of dollars in bogus charges, and settled for a "hefty $105 million".

I'm not an accountant (but I did stay at a Holiday Inn), but if they stole "hundreds of millions" from us, it seems like they should have to pay us "hundreds of millions". Plus a fine. Plus adjust for the rate of inflation.

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