Pissed Off at the Corporate Banking Industry? Here's an Easy Way You Can Hurt Them

Pissed Off at the Corporate Banking Industry? Here's an Easy Way You Can Hurt Them

www.alternet.org...

I voted for Barack Obama, and I continue to wish him nothing but success. But I have to admit his and Tim Geithner's solution to the banking crisis is exactly the wrong solution. The administration seems to believe the best thing to do is to throw the drunken "money center" bankers into detox, hose them off and put them back in the game.

It's a bit like asking ExxonMobil to run the Environmental Protection Agency, or appointing Charles Keating to head the General Accounting Office....

(visit the link for the full news article)



[edit on 1-4-2009 by grover]

To the meat of the article

it appears we will have to take matters into our own hands. By "we" I mean anyone with a checking account, savings account or certificates of deposit. That, my friends, would be you. You are up at bat, and we're counting on you.

What we need to do is force the administration to do to these tumorlike institutions -- currently hiding behind the myth they are "too big to fail" -- what they just did to GM. Tell them that, since taxpayers are now major stakeholders, they must fire their senior management and either clean up the mess they made or face immediate seizure and liquidation.

And just how are you going to force such a change? It's just this simple:

1) If you bank with any of these money center banks, withdraw your funds immediately

2) Go to this site and find an independent community bank in your area and deposit your funds there instead. (Credit unions are another excellent and safe alternative to banking a money center bank.)

That's it. That's the whole enchilada. The outflow of what bankers call "retail funds," if large enough, will become the final straw that breaks the backs of these bulls in our fiscal china shop.

www.alternet.org...

Me personally have already done that and moved my money (what that it is) to a federal credit union.



www.alternet.org...
(visit the link for the full news article)

[edit on 1-4-2009 by grover]

I had to laugh at this passage though:

It's a bit like asking ExxonMobil to run the Environmental Protection Agency, or appointing Charles Keating to head the General Accounting Office....

I thought that was the Republican policy... appoint the foxes to watch the hen house.

reply to post by grover

I thought that was the Republican policy... appoint the foxes to watch the hen house.

Based off of some of Obama's selections, it appears to be a bi-partisan policy.

reply to post by Karlhungis


Yeah that was kinda my point.

I think such a policy is foolhardy at best.

i guess democratic policy is throw money at it and run...

The guy who wrote the article is a brainwashed obamabot.

Here's what he said:

But I have to admit his and Tim Geithner's solution to the banking crisis is exactly the wrong solution.

He's not doing it wrong, he's doing it ON PURPOSE. He's working FOR the banks. What don't you understand about that? He gives different treatement to the same overall problem and banks are even more criminals in their behavior. Still, he's even MORE generous to the banks.

It's like Obama is the police chief and he have two criminals. One killed someone (GM) and the other killed and raped someone else (banks). Obama give 5 years to the first one and gives 200.000$ of taxpayers money to the murderer/rapist with no jail time. Why? Because the second criminal gave millions to the police chief to be elected and he placed in his police department at key positions the scum who raped the girl with the criminal he just gave money. Same thing here. And in real life that's even worse because the banks put dozens of millions of people to the streets and ruined them.... they wiped out half the world's wealth while enriching themselves. They should make new crimes... Economical war criminal.

That's not a mistake, that's intent.

The strange thing is that others in the administration, particularly those tasked with straightening out the auto industry, are taking the opposite -- and correct -- tact. They fired the head of GM and cleaned out GM's board of directors for good measure.

That's how you begin fixing stuff that's broke -- first you get rid of the folks who broke it. What you don't do is hand them billions of free bucks, a hearty slap on the back and a rousing "Now, go get 'em tiger!" (Because they will.)

Still he's not blaming Obama for being a corrupt piece of garbage. Because what's he's doing ``is a mistake``... the same old trick Bush used for 8 years... we're not gonna blame him, he's dumb, he's doing mistakes. BS! He's CRIMINAL.

[edit on 1-4-2009 by Vitchilo]

So this author's solution to solving the banking crisis is to deepen it, and cause violent riots by the creation of bank runs...

Rather an uninformed chap, to put it mildly.

Me personally when I heard Bank of America referred to as a zombie bank and expected to fail by May I pulled my money... not because I was afraid I would never see it again but because I did not want to support a bank so stupid to have bought into what it should have known was a straw house to begin with.