> Additionally, one user told The Register they had spending caps in place that should have stopped any bill over $250. Yet according to Google those caps can be automatically upgraded to $100,000 – without user input – if the user has spent a total of $1,000 throughout the life of the account, and the account is more than a month old.

Anyone care to bet on whether Google would oppose consumer protection legislation on this issue?

I'd also bet that Google has already closed off the loophole of having a shell company (with near-zero assets) own the API account, and other such safety measures - is anyone here familiar?