Big Banks - Aaaaargh!

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From the Consumerist
Speaking to investors today, Todd Maclin, the bank's chief executive officer of consumer and business banking said that 70% of customers with deposits below that $100K line are not profitable for the bank after new regulations put a cap on lenders' fees.
[...] "Lost revenue has to be replaced with higher share of wallet and customer penetration," Maclin explained. "You have to get your costs and where you spend your time, to the fullest extent possible, more in line with where the opportunity is."
Aaaaargh!
This isn't lost revenue that needs to be replaced.  This is revenue they should never have been making in the first place!.
Just because they grew huge and fat based on ripping off people does not create some kind of embedded moral right to suck more money out of people!
And yeah, I know, Free Market, yada, yada.
Except that these are Banks, which are taking advantage of their privileged role in our capitalist society. The easiest way to think about this is that financial institutions are intermediaries between buyers and sellers, (of products, of investments, etc.), and every dollar in profit to a bank is a dollar that is taken out of the pocket of the buyer and seller.
Which is why they have a privileged role in a capitalist system - they need to have some incentive to exist (go ahead, make some profits), but not rapacious profits.
Ergo, "Aaaaargh"

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