Move Your Money!

[ATT]

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New banking rules for accounts and credit-cards go into effect in Feb. in the U.S.

In the meantime, banks are doing everything thet can to skirt the coming regulations by signing customers to new contracts in order to make-up for the projected loss of revenue the new banking regulations will cause.

These are the same banks (and their subsidiaries) that brought the economy down, were 'bailed out' with taxpayer money, and then refused credit to small and medium business (as well as consumers) while they continued to invest in the same Wall Street financials that required the government to bail them out. They, and Wall Street are having a banner year while unemployment continues at just under 1/2 million a month in new claims.   

http://online.wsj.com/article/SB10001424052748704162104574630360393559766.html?mod=rss_Today%27s_Most_Popular

I came across what looks like a grass-roots anti-big-bank movement that seems to make a lot more sense than just 'complaining' about the situation and I think it would cause some positive changes if it caught-on.

http://moveyourmoney.info/

Personally, I went with a credit-union.

The only way to get the big-bank's attention is to vote with your feet, and your money.

Tony
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[ATT]

Although I ran into this on youtube, I see Alex Jones has picked this up, too:
http://www.prisonplanet.com/move-your-money-from-your-giant-bank-to-a-community-bank.html

And this guy sounds righteously pissed!
http://market-ticker.denninger.net/archives/1802-MOVE-YOUR-MONEY.html

Even the (normally conservative) Atlantic Monthly is getting on-board:
http://andrewsullivan.theatlantic.com/the_daily_dish/2009/12/move-your-money.html

The more I look around, the more it seems this idea is getting a lot of cross-platform support...I just did it because it seemed like a good idea...

Tony

[ResinRat2]

Fortunately, I already have my money at one of the listed institutions; not because I was smart, only because I randomly picked a small local bank over twenty years ago.

The trouble with this approach is that I can see these giant banks watching their assets pour out the window and quickly crying to Congress to save them. The reason: TOO BIG TO FAIL!!!

So again the taxpayers will be robbed and the debt inflated even higher.

Personally, I don't know what the answer is to stop them, except the public waking up and demanding this insanity end. --- Like that is ever going to happen.

[ATT]

The trouble with this approach is that I can see these giant banks watching their assets pour out the window and quickly crying to Congress to save them. The reason: TOO BIG TO FAIL!!!

Well, the thing about any kind of grass-roots populist movement is that, if it results in either majority or large-minority acceptance, it raises a pretty heavy 'public sentiment' flag to both incumbent and candidate politicians.

If they fly in the face of that sentiment, they know their chances of grabbing the 'brass ring' or staying in office are slim.

Not to say this is always the case, but in this instance, considering what we've just been through, I think it would make a big difference.

Tony

[ATT]

Here's a good one:

Chase and Citibank to Drop Out of FDIC Coverage Program

http://www.creditinfocenter.com/wordpress/2009/12/23/chase-and-citibank-to-drop-out-of-fdic-coverage-program/

Tony