Forum Post: Let's start throwing some weight around, starting with Bank of America
Posted 12 years ago on Oct. 7, 2011, 6:21 p.m. EST by BadAss0830
(68)
This content is user submitted and not an official statement
This was written in response to another post
Hello everyone! The Occupy movement is growing and when the numbers get high enough, we'll have some real opportunities to create change. Not ask for change. Not hope for change. Not elect someone else for change. CREATE change.
I would suggest the movement start taking targeted approaches to ideas like this. Bank of America announced yet another charge for people to access THEIR OWN MONEY whenever they want. So, they pay 'next to nothing' interest to hold our money, make a fortune lending our money to other's, and now want to charge us to use our money via debit card. And their argument? "We have a right to make a profit."
Bank of America had net earnings of over $2 Billion for Q1 2011 and the CEO is collecting a 'modest' salary of $10 Million for 2011, yet they decided to place their financial woes and bad decisions on the back of the consumers. THIS IS UNACCEPTABLE!
I propose we put the word out for all Occupy Wall Street supporters to pull their money out of BOA, refinance loans from BOA with other institutions (perhaps local banks), and discontinue and business relationships with BOA. If any of our union supporters have accounts with BOA they, too, can spread the word and do business elsewhere. The financial shock we can create to Bank of America will be a WIN for the movement and message to the system. We do have the power to create change and we will use it. Of course we will, we're the 99%! ;)
Oh yes !!! PLEASE PLEASE !!!!
This is the same B of A that did this ..... BASTARDS !!!!!
" Bank of America refuses to allow American flags on property for funeral procession of US Marine "
http://community.tasteofhome.com/community_forums/f/29/p/739771/6338717.aspx
I haven't used a bank for over 20 years. Credit unions have all the banking services I need and are relatively devoid of greedy honchos. Let the 1% have their bank accounts. The rest of us should be using credit unions.
It is not all about earnings.
It was not earnings that caused the 2008 crisis, it was massively over-leveraged and collapsing balance sheets.
This is why so many banks are on the verge of going down - unless they get another taxpayer funded bailout - with Bank of America leading the pack.
Don't forget...
Those over-leveraged balance sheets were a means to an end... show more earning, make happy stock holders, get my bonus. I think greed is the bottom line here.
You're right, though, but rather than muck it up with the details, let's just call a duck a duck. ;)
Yes! Yes! Yes!
Thanks for the comments and I agree with all your added points. We NEED to take some sort of action and this would be a minor but 'meaningful' victory. As I watch the coverage OWS is getting, the one point everyone mentions is that we have no direction and our demands are too widespread. ANSWER? "That's because the problems that face our nation are too widespread." We will take them on one by one, little by little. Keep up the fight!
I agree we should pay more attention to boycotting such banks as Bank of America. I might also add that we must do everything we can to properly educate the voter population for the upcoming 2012 elections. We need to sophisticated approach to all of our upcoming actions. We don't want an Animal Farm situation on our hands. We must take an unbiased approach and analyze why our country is in the position it is in. Analyze why the economy failed. Why really?! We need to work within the government system to fix many things. We can't just tear it all down and throw the baby out with the bathwater. Who is with me?!
This idea can show BofA that just because we don't care a$ 20,000 balance doesn't mean we should be treated differently. We are all costumers of BofA, we all give them funds, not just the 1%.
This is an approach that deserves more attention: flexing our collective economic power.
One the easiest and most efficient ways to enact change is going to be through integrating strategic boycots similar to what the OP author outlined in the final paragraph- but only once they're organized to an extent that the results are visible.
This concept needs a larger role in the discourse.
Just keep your money home...most of don't have thousands of dollars...just pay in cash. I have
This will only make anoiher bank richer.Lets just stop sending them money
And pay bills with money orders?
credit unions, baby!
My banking has been through a credit union for 17 years now. They never have and never will finance mortgages. Smart company.