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And, yes, I DO take it personally: Remove your money from the "too big to fail," already failed big banks
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Tuesday, November 23, 2010

Remove your money from the "too big to fail," already failed big banks

as i mentioned in a previous post, i closed my wells fargo and hsbc accounts last month and consolidated them in the credit union account i've maintained since 1995... i see now, the idea is catching on...

in the u.s...

Stop the Global Banking Cartel

Are you fed up with the unchecked fraud, greed and seemingly-unlimited power of the major banks?

You are not alone! Citizens from across the globe are infuriated by the corrupt banking system.

On December 7, 2010 the PEOPLE take back their power!

Join the millions of banking customers around the world who will be peacefully withdrawing their money from major banks in a coordinated, global effort.

If you do your banking with BANK OF AMERICA, CHASE, WACHOVIA, WELLS FARGO, CITIBANK, US BANK, SUNTRUST BANK, NATIONAL CITY BANK, MORGAN STANLEY, UNION BANK, UBS, MORGAN STANLEY, GOLDMAN SACHS, BRANCH BANKING & TRUST, REGIONS BANK, COMERICA, PNC BANKS or any of these other major banks -- pull your money out and put it with a local, regional bank or a community credit union instead.

and in europe...
Bankrun 2010

from common dreams...
The US movement is calling on people not to take their money out as cash, but to close their accounts at major regional or national banks and to move the money on Dec. 7 to independent community banks or--better yet--to credit unions.


Could a major run on the big banks seriously damage them? It depends on how seriously people take the idea. Let's imagine 10 million Americans pulling their worldly savings out of the banks--not just household accounts but funds invested in CDs too. We could quickly be talking about upwards of $50 billion.

Maybe not enough to bring down a Bank of America or a Goldman Sachs, but then, what if the process started to snowball, continuing on beyond Dec. 7? There's no reason why it would have to stop at one day. If people decided they were no longer going to bank at big institutions, then those banks' days would be numbered. They all depend upon the money of the so-called "small people" to give them the cash to play with in their hedging games, their structured derivative plays, etc.

It could all be a fantasy, the idea of taking down the big banks, but then, it's really a cost-free thing to attempt, and besides, as I've written earlier, everyone would be better off taking their banking business away from the greedy big banks and shifting it into credit unions. You get better service, fewer fees, lower loan interest rates, higher interest rates on your deposits, and many of the lobbies even have customer restrooms! So what are you waiting for? Get your papers in order and prepare to march down to your big bank and tell them, on December 7, "I want to close my account!"

i like it - a LOT...!

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