The Honey Scam

I watched a video or two (here's MKBHD's) on the whole Honey scam thing. Somehow, I am not at all surprised that Honey is part of PayPal's empire. I want nothing to do with anything that PayPal and its subsidiaries do.

The shady nature of any scheme dreamed up by for-profit money-handling companies that produce nothing but profits for their owners seems ubiquitous. It's one of the reasons that I don't like financial services companies of any stripe. They do nothing but move money and skim off of every transaction in the most usurious way possible. Thank the Gramm-Leach-Bliley Act of 1999 for that bit of fun.

Heck, I'm not real keen on the technically not-for-profit credit unions which still rake in a lotta bucks from overdraft fees - from their ostensible owners! - to pay for huge executive compensation packages.

Yes, I know. Banks and credit unions and savings and loan associations have to pay their employees (good) and deal with all the regulations (frustrating for them but ultimately safer for us). The idea used to be that banks paid out their expenses on the difference between the interest on the loans coming in and the interest paid going out. What seems to be missing is the concept of "enough". Capitalism and greed (but I repeat myself) aren't institutionally capable of stopping at "enough".

-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

If you like this (or don't!) and want to leave me a comment, use the guestbook feature in the upper right corner. On a phone, tap the "hamburger" (three-bar) menu button. Please mention which article you're referring to.

I love it when I get an email telling me that someone clicked one or more of the react buttons at the bottom of the post. However, I have no idea who did it. If you're so inclined, leave a guestbook note!

Written and posted and copyrighted on 2024-12-31 by me. Quote me if you want (linking to this post would be nice, too) but no one and no thing have permission to slurp this into any LLM vomit factory as training data.