Democracy Now: Move Your Money $ } } } } } } } $

[BrendaBrick]

Petition signed! Thanks.

From 1-4-2010, but still applies today more than EVER:

Move Your Money: Project Urges People to Transfer Money Out of Nation’s Largest Banks Into Local Community Banks

Economist Robert Johnson, columnist Arianna Huffington and filmmaker Eugene Jarecki, among others, have come up with a new proposal that would allow ordinary people in this country to channel their anger over the Wall Street bailout while also helping invigorate community banking. We speak with Rob Johnson about Move Your Money.

Guest:
Robert Johnson, former economist at the Senate Banking Committee and the Senate Budget Committee. He’s now the director of the Economic Policy Initiative at the Franklin and Eleanor Roosevelt Institute. He also serves on the UN Commission of Experts on Finance and International Monetary Reform.

AMY GOODMAN: It’s no secret that the most powerful banks on Wall Street, the same ones American taxpayers had to bail out, made record profits last year. They have also cut back on the money they are lending, even though the bailout was supposed to get credit flowing again. Meanwhile, community banks on Main Street have either closed down or are barely surviving.

Well, economist Rob Johnson, columnist Arianna Huffington and filmmaker Eugene Jarecki, among others, came up with a new proposal that would allow ordinary people in this country to channel their anger over the bailout while also helping invigorate community banking. They’re asking people to move their money out of the largest banks in the country into local community banks. It’s called “Move Your Money,” and they’re promoting it with a short online video that compares the current situation to the classic Frank Capra film It’s a Wonderful Life, where community banker George Bailey helps the people of Bedford Falls escape the grip of the predatory banker, Mr. Potter.

(About 8 minutes) http://www.democracynow.org/2010/1/4/move_your_money_project_urges_people

http://moveyourmoneyproject.org/

on edit - oops. Thought I posted as reply for signing petition against BOA ~

[Jackpine Radical]

1. Credit unions!

I just transferred my mortgage a month ago & got 3.75 at my CU. Also have all our other accounts in 2 CUs.

[Luminous Animal]

2. The Move Your Money Project makes it easy for you.

This page lets you enter your zip code in order to assist you in finding a local bank or credit union in your area:

http://moveyourmoneyproject.org/find-bankcredit-union

[BrendaBrick]

3. That's how I did mine last year

Transferred to a regional bank and couldn't be happier! (They even smile and greet me by my first name!)

[CTyankee]

6. I did too, but it was because Citi Morgan Stanley hit me with a big fee last year

and I just said "enough!"

Now I have a local bank, right in my supermarket. I see the tellers there every time I shop and they are friendly and nice. They even have a little white board with a trivia question on it that changes weekly. It's really convenient and the way banking used to be...local...

[RebelOne]

11. I just did that and it showed no results for my zip code.

There are 3 banks that I know of in my neighborhood other than Bank of America.

[L0oniX]

4. Off to the greatist. n/t

[EmeraldCityGrl]

5. I have no proof or link to support

what I'm about to write but throw it out there anyhow.

Use a Credit Union. If you are going to use a small local bank check it out
thoroughly before depositing. I opened an account at a small local bank.
A couple weeks ago without warning and within two days the bank
changed names and owners. The best Information I could find was that
it was bought by a group of out of state investors, not very local. I have no
way currently of knowing what they are doing with depositors money. If the
deposits were used for local businesses, home loans, or something less
tasteful. Just because it's small and "local" is not necessary good. I understand
my deposits are FDIC insured but the FDIC is having problems of it's own and
I wonder if BofA or a huge string of small banks fail what problems we might
be looking at.

Just my 2 cents.

[CTyankee]

8. That's a concern of course. But, ya gotta put your money somewhere...

[EmeraldCityGrl]

12. Credit Unions are the way to go. IMHO.

[CTyankee]

13. I used to have one. Actually, there isn't one that is very convenient to me.

And my local bank is, in spades. I need the convenience in my life now that I am retired. Everything has to be simplified...

[Luminous Animal]

9. "you can get a listing of the most sound community banks near you"

Also, at this link near the bottom of the page.

http://moveyourmoneyproject.org/find-bankcredit-union

[AnneD]

7. Even in the big city of Houston.....

I get small town know you by your first name service at my credit union. I love my credit union!

[FarCenter]

10. Check whether the small bank or credit union still owes TARP money to the Federal government

If they owe, it means that Treasury thinks that they have too little reserves and Treasury isn't letting them pay TARP back.

http://www.treasury.gov/initiatives/financial-stability/briefing-room/reports/105/Documents105/August%202011%20105(a)%20Report%20Final.pdf

[steve2470]

14. k&r nt

[Hotler]

15. How do you screw the banks? Move your money.

k&r

[Uben]

16. But how can banks screw you if you don't use them?

Ed Zachary!

[tama]

17. As unions join the movement

here's an idea to think about: moving union pension and other funds away from Wall Street - but to where?

How about investing pension funds etc. into buying productive land, alternative energy, funding production coops, coops for care of elders, etc., all that retired people materially need - instead of expecting "money to do the work" in the financial casino.

[GeorgeGist]

18. I joined a Credit Union.

[BrendaBrick]

19. I just checked and it looks like Huff Post has a new page: "Move Your Money"

"Move Your Money - Some News Is So Big It Needs Its Own Page"

http://www.huffingtonpost.com/news/move-your-money

[PETRUS]

20. K&R nt

[mod mom]

21. I did this back in '09 when Huff Po offered links to find a new bank & couldn't be happier!

Went from CHase to a local bank with a good rating. Now I never wait in line, don't have to use an ATM to get money (I refuse because they are made by Diebold) and they know me to the point I no longer show ID!

[WillyT]

22. HUGE K & R !!!

:kick:

[GregD]

23. I transferred a large CD out of BofA today

When asked by the sales gal if there was a reason, I told her yes, because of the $5 debit card issue.

But it won't affect you, she assured me.

I know, I affirmed. But I'm sick of the way they throw their weight around, how they got bailed out for billions and now they do this.

She went on to tell me how the goverment forced BofA to buy Countrywide and that cost them billions (anyone know if that is true?)

By the time I got my check, I swear she was about to go into tears. This is a small community, she's probably on a quota, and losing something the size of the CD I pulled took a chunk out of that one for this month.

Drove a block to a community bank and handed it over.

[Scurrilous]

24. K & R

:thumbsup:

[bvar22]

25. Done in 2006 - 2007.

Accounts closed,
IRAs cashed out,
penalties paid,
sold everything else,
bought dirt.

Have one Credit/Debit card with a local bank.
Wall Street can live or die without our money or concern.

---bvar22 & Starkraven
living well on a low "taxable" income
& stuff we learned in the '60s
:hippie:

[mimitabby]

26. my credit union is AWESOME

haven't belonged to a bank in over 30 years!