Forum Post: Bank of America, Chase, Citi, Wells Fargo, withdraw your funds ASAP!
Posted 12 years ago on Oct. 12, 2011, 5:58 p.m. EST by sass
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Put your money in local/regional banks/credit unions that do not trade derivatives, squander billions in taxpayer bailouts, pay exhorbitant executive bonuses, gouge fees, withhold lending. Make the most powerfiul statement possible, immediately. YOU ARE NOT POWERLESS! PLEASE SHARE THIS POST. TAKE ACTION!
Excellent. I started lampooning Bank of America and the other titans at the very beginning of this recession:
http://thegreatrecession.info/blog/2009/02/downtime-part-11-banking-on-the-future/
http://thegreatrecession.info/blog/2009/01/downtime-part-7-things-to-do-with-a-failed-bank/
http://thegreatrecession.info/blog/2009/01/downtime-part-6-bailing-out-the-biggest-bullies/
http://thegreatrecession.info/blog/2009/01/downtime-collapse-of-the-colossus/
I'll be glad to finally see them getting their due.
--David Haggith
Unless the people in your movement have a LOT of money and/or represent the LARGEST portion of their customers, all you'll do is generate some revenue for them in the form of ATM fees and service charges. The Federal Reserve will step in to prevent any liquidity problem (as it should).
Nevertheless, it's good CONSUMERISM to avoid doing business with companies who's policies offend you, so I SUPPORT your idea.
I suspect a GREATER impact would be had if folks simply STOPPED buying products from China and overseas in general !
Better yet, start our own banks because although I'm all in favor of taking down today's ineffective and inefficient Top 10% Management Group of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves. Consequently, I have posted a 1-page Summary of the Strategic Legal Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategic_legal_policy_organizational_operational_structures_tactical_investment_procedures
Join
http://finance.groups.yahoo.com/group/StrategicInternationalSystems/
if you want to be 1 of 100,000 people needed to support a Presidential Candidate – myself – at AmericansElect.org in support of the above bank-focused platform.
you realize that the financial market is so complex that almost every bank does business with wall street? whats to keep the local banks from putting money in wells fargo?