Reply #18: I disagree: "the people who staff the branches would face layoffs" [View All]

[firehorse]

I just don't agree with this assumption.

Large Banks like Chase and Wells Fargo have SOOOO much money invested in them. "Our 99%" personal accounts is a miniscule drop in the bucket for all their investments. On top of that, the local Chase and Wells Fargo have leased their brick and mortor franchise stores. It's not like they are going to cave in on their leases and fire their staff. Even if they lost 1/10th of the personal accounts they had last week, they still have a lot of business to attend to.

The closing of the accounts en masse is an important symbolic message meaning that the message is more symbolic than the financial losses they actually accrue.