Occupy Wall Street Organizing Nationwide Boycott Against Banks

[Tony_FLADEM]

In an effort to send a message to big banks, some protestors, who seem to be associated with the Occupy Wall Street movement, have organized an event to remove all funds from banks and into credit unions.

Protestors are calling the event "Bank Transfer Day" and are encouraging people nationwide to participate November 5.


<http://www.cnbc.com/id/44800021/>

[proud patriot]

1. Good

[EdMaven]

2. In theory, I support this kind of thing. But at the back of my mind there's a

paranoid fear:

What if we're being directed to do this to set up an S&L crash, take two, with credit unions in the role of S&Ls.

A not impossible scenario. Insertion of management, change in regulations or laws.

[Demeter]

8. The S&L Crash Was FRAUD

and many bank officers were prosecuted for it.

Today, the fraud is at the Too Big to Fails: Bank of America, Chase, Wells Fargo, Bank of New York....

Pulling out the people's money and putting it on deposit with credit unions will not lead to a crash. Except for the TBTF.

[EdMaven]

9. And tomorrow, the fraud could very well be at credit unions. They're not run by

Gandhi types, you know.

Mine is run by a paper & pulp co.

There's another one run by a giant timber conglomerate, another run by a public employees union, etc.

They are pools of money those private & public groups can "invest" for profit.

They operate under certain regulations. Easiest thing in the world to change the regulations & invite in the same kind of fraud we saw with S&Ls & with banks.

[Demeter]

10. The S&L Fraud was Enabled by Reagan's Deregulation Campaign

The credit unions have not been deregulated. The Corporate Credit Union over-lords have already been prosecuted for investing in MBS and other frauds.

[EdMaven]

11. but they can be. very easily. that's what i'm saying. just as the banks were, just as the s&ls

were.

[glowing]

3. So, I'm wondering how many large banks are going to close

for a possible run on their banks? A lot of people transferring on or around the same time is not only going to hit them with deposits, but also on the value of their stock... We may end up bailing the greedy bastards out again.

[RKP5637]

6. I think at that point we would see outright rage and huge, really huge, demonstrations, etc.

I think many Americans are starting to get tired of being sheep herded around.

[mucifer]

4. what about small banks that lend to the community?

Not every bank is national. I use Green Choice Bank here in Chicago. greenchoicebank.com
I am currently transferring my accounts from chase.

[RKP5637]

5. Many people might be better served by credit unions anyway. Possibly they

just haven't thought of it, but this will give it focus and attention. I dumped BOA, for example, a few years back when I learned how they were screwing customers then. I was also in a position then to also dump my mortgage I had with them at that time. I also made it very clear to them why. Not they they gave a flying F, but it made me feel better and helped in some small way.

[PetrusMonsFormicarum]

7. Pecuniary migration

has triggered growth in the past, and a mass migration to credit unions and local banks would most certainly benefit communities at a local level, where we all need to see proof of recovery firsthand.

The security of our own assets is what's important here; falling stocks and the damaged fortunes of the elite is just gravy.