Cord Blood: Donate or Bank?

It seems that having a baby comes along with many decisions to make along the way.  One question that always gets my attention is whether to donate cord blood or to pay someone to bank it.  Every time we go to the doctor's office I see pamphlets about Cord Blood.

Cord Blood for those that don't know is the blood from the umbilical cord.  It contains stem cells and is used to treat around 80 different diseases. 

I don't have any personal experience with this, but I have talked to a few people who can describe it as a scam.  First of all cord blood banking is expensive.  Secondly, if your child has one of the diseases and was born with it his/her cord blood can't help as it is diseased as well.  Finally, what if your child never needs it, but other children are dying waiting for a good donor?

Ashley and I will be donating the cord blood, because we feel it is only fair to help others.  If Tobias should ever need stem cells, we will have good karma in that respect.