The FCC, perhaps the organization that has the least amount of spine when it comes to dealing with mobile carriers, has asked Verizon to elaborate on their response regarding the doubling of their early termination fees. As you may recall, Verizon recently doubled their ETF or early termination fees and has claimed that the reasoning behind this increase is customer acquisition and marketing costs. The FCC has fired back, claiming that Verizon’s answer does not shed enough light into the matter in question. While Verizon has to answer the FCC’s query in theory, its massive political clout in Washington means that North America’s largest mobile carrier can dance rings around the FCC, without risking serious repercussions. Why the FCC feels that it has a right to meddle in price setting and markup is beyond me. Let Verizon charge whatever they wish and let the markets decide how to respond accordingly. It’s called capitalism, a word that has unfortunately been long forgotten.
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