Forum Post: More on Bank Transfer Day: Nov. 5th
Posted 13 years ago on Oct. 17, 2011, 11:06 a.m. EST by OurTimes2011
(377)
from Arlington, VA
This content is user submitted and not an official statement
According to the organizer,
"Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions to non-profit credit unions on or by this date, we will send a clear message to the 1% that conscious consumers won't support companies with unethical business practices.
• Research your local credit union options • Open an account with the one that best suits your needs • Cancel all automatic withdrawals & deposits • Transfer your funds to the new account • Follow your bank's procedures to close your account before 11/05"
http://www.facebook.com/event.php?eid=281139538577206
Here is what I suggest:
Do not move all of your funds. To put this big of a strain on the system may be irresponsible. Move some of your money out. Just opening an account will send the signal we need.
To find a Credit Union:
http://www.findacreditunion.com/ http://locator.cucentral.com/ http://www.findyourcreditunion.co.uk/
Yes, please do this. By law, credit unions are limited as to what they can invest their excess cash. Namely Govt Bonds or Agency Bonds like Freddie and Fannie. We need those purchase that funded the purchase of our bad loans and provided for our bailouts. So, yes please give them your money do they will be forced to buy our junk. And please don't tell everyone that they own these investments on their balance sheets. BAHAAAA
Irrelevant.
Misses the point.
Technically incorrect. ALL regulated financial institutions are limited. Credit Unions recently gained the ability to invest in a wide range of securities. (http://www.cuna.org/training-education/self_study/course_description.php?id=M21)
Why is the poster scared? 951 cities for a movement that is 30 days old.
Banks are petrified.
Additional flames cheerfully ignored.
Ask to see your CU's annual report. Guess what they are buying? It's so funny what the CU's are supporting with their purchases. BAAHAHA
That's assuming that a bunch of hippies actually have any substantial bank accounts to move. Sorry, moving your $50 isnt going to cut it.
Flames cheerfully ignored.
Sorry they need a serious message, talk all but operating money out of your bank... one days interest to a huge bank is a serious message... then extra days if they are deaf...
Dear Occupy Wall Street
I believe that the protest needs a focus and one of the two major ones are jobs and the banks because the banks caused the world wide problems.
But when the Banks lobbied both this While House and the Bush While House that they were to big to fail and the government had to bail them out using taxpayer money the taxpayer got nothing back but the bill.
There was no JUSTICE, not one of the banks or mortgage companies that funded the loans and made millions and millions or dollars did a day in jail. Madof went to jail because the stole from the RICH the banks stole from Middle Class.
This should not have been a This should not have been a Democrat or Republic issues this should have been one of right vs. wrong and it was wrong of the Government to bail out the banks using taxpayer dollars and allow the banks to still foreclose on homes leaving children homeless all over the United States.
Both sides want money from Wall Street and the Banks and both sides sell the middle class down the river. Right now this Administration promised to hold the banks accountable and force them to refinance homes. Today only 600,000 homes out of 4 million are refinanced and nothing is done. Well Fargo is one of the biggest problems but because they support the White House Agenda nothing is done. Right now today the signs on Wall Street should say not one more home in the US to be foreclosed not one more child put on the streets.
Job yes we need jobs and Government needs to get out of the way of small business again they like the Middle Class are the ones that pay the bill for all the regulations.
Again GE received money from the US Taxpayer and where are they going to build there new electric car the US NO KOREA that where. The rule should be simple if you take money from the US people you keep JOB in the US. If you want tax brakes fine you get them if you hire in the US.
So Let make what we want clean Justice from the American Taxpayer Bank of America took money to bail our there bank and are still throwing American Children onto the streets but can pay 10 million dollars to a bank employee that was responsible for the fact the bank had to be bailed out in the first place. How many homes would that have paid off, how many mortgages could they have modified using that money.
That is the Greed
By the way the US government in the first depression held mortgages for over 50 years rather then have children be put on the Street why don't they step in now