Forum Post: The Next Movement: Boycott Wall Street
Posted 13 years ago on Oct. 9, 2011, 6:57 p.m. EST by IAmBanker
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Bank of America insists on squeezing the People with its latest $5 monthly fee for debit card usage. It is time to stand together as one and let Bank of America know what the People can do. Perhaps it will also send a clear message to the CEOs who have no problem to squeeze the Americans
Withdraw your deposits from Bank of America. The deposits are the bloodline for a company like BofA. It keeps the bank's balance sheet strong and maintains a high Tier 1 capital ratio. But with a lot of its balance sheet tied up on bad mortgages and other fixed income instruments, BofA cannot afford a "run on the bank". Take your money out of your BofA account and put them in any other FDIC insured banks.
Critics now calling this Modern Day French Revolution a "Class Warfare". This warfare was raised by the riches decades ago. The poor had already been beaten, and the Middle Class is being squeezed very quickly. Corporate CEOs welcomed the idea of "Buy America" so that the increased corporate profit gets them more pay, at the expense of average Americans. Yet no CEOs even thought of "Hire America" because that could eat into their profits.
If critics insists on calling this movement the "start" of a Class Warfare, then Class Warfare it is AND it is a war that the average Americans cannot afford to lose.
Spread the word however you can. We start with a run on Bank of America - withdraw your deposits now!
again and again, no, boycotting is not a useful strategy at this time, and no, we ain't unions, and no, we don't take marching orders from unions.
can you explain further why cutting of a the bank's blood supply is not conceivable?
At the moment, it does feel that the corporations are slowly choking the average Americans' blood supply. Case and point : $5 monthly fee for debit card usage.
because A; its not a useful tactic for us, B; it hurts other people not just the banks, C; the occupation tactics are working and the movement is growing exponentially, and D; all of this is just attempts to escalate and escalation is not useful, and E, there are a thousand more useful strategies than this, and F, this has been discussed in older threads- go read them instead of just posting .
Boycott everything. A consumer strike will hurt the CEO's the most, right in the wallet! Stop buying anything you don’t need. Stop being a consumer.
In the summer of 2008 the price of gas went over $4.00 a gallon, Americans stopped spending and deflation occurred. The government, banks and corporations started howling because it hurt them so bad. On October 8th 2008 the stock market took the 2nd biggest dump ever after the Dow Jones doped 733 points in response to a report that retail sales have reached a 3-year low.