Santa Cruz County Cuts Big Banks Out Of Its Economy

[DhhD]

http://www.alternet.org/news-amp-politics/california-county-thats-leading-way-cutting-big-banks-out-its-economy?akid=13311.295576.K68K9K&rd=1&src=newsletter1039529&t=15

Ryan Coonerty, the Supervisor of the Third District of Santa Cruz County, wrote to the rest of his fellow Supervisors in June, saying that the county should stop doing business with five different "Too Big To Fail" mega-banks, arguing that their criminal behavior should not be rewarded. Here's a snippet of his letter:

There seems to be no limit to the greed in some our nation’s largest banks. I believe it is critical that the County only work with the most trustworthy institutions as we invest and protect the public’s tax dollars. Santa Cruz County should not be involved with those who rigged the world’s biggest financial markets.

It is important that we send a message that if you want to do business with the County, you need to play by the rules. Therefore I recommend that the Board direct that the County’s investment policy be modified to reflect that the County of Santa Cruz will not do new business with these felonious financial institutions for a period of five years and further that the County unwind existing relationships with these five banks to the greatest extent feasible.

more at site link

[quizzle]

1. Excellent start ,how many districts are in the u.s.?

[KamaAina]

2. Old news.

http://www.democraticunderground.com/104010949

[yeoman6987]

3. The only negative I can see with breaking up banks

are ATMs. Right now it is pretty awesome to have a bank nearly everywhere you go to get money and then add ATMs to it and you pretty much never have to pay a fee. Break up all the banks and that goes away and I would imagine ATM fees would increase. The broken banks at first will not accept the ATM card in any ATM that isn't in your network branch or whatever they would call it. Other then that and traveling overseas, I think it might be ok.