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We talked about the outrage of big, bailed-out banks turning around and spending millions of dollars on lobbying to gut or kill financial reform -- including "too big to fail" legislation and regulation of the derivatives that played such a huge part in the meltdown. And as we contrasted that with the efforts of local banks to show that you can both be profitable and have a positive impact on the community, an idea took hold: why don't we take our money out of these big banks and put them into community banks? And what, we asked ourselves, would happen if lots of people around America decided to do the same thing? Our money has been used to make the system worse -- what if we used it to make the system better?www.huffingtonpost.com...
This, my friends, is conspiracy! Don't worry that it's from a lefty site...I'd endorse this plan if it came from Sarah Palin!
Trust me...30 years on...and it still feels good.
Originally posted by watcher73
The simple solution is to just keep cash. If you need a bank service like check cashing, direct deposit for paychecks ok, the day the money goes in is the day it comes out.
My name is Dennis Santiago. I am the CEO of Institutional Risk Analytics, a company that most of the world had never heard of until December 29, 2009. That's the day the country became aware of a tool we donated to help the MoveYourMoney.info campaign.
Today marks the seventh day since the campaign activated the zip code search tool. In the 168 hours that have transpired, Americans have searched for banking alternatives in 16,631 zip codes. With roughly 42,000 zip codes assigned that's just under forty percent of the country actively asking the question "what can we do to effect change?"
In those 48 hours, over 115,000 of you stress-tested that tool and in the days since you've been continuing to use the tool around 45,000 times a day.
So the burning question, of course, is "will moving your money have an effect?" And by effect, I don't mean making a momentary political statement. I mean making a structural difference to the country's financial system. The answer is yes, and here's how.
"This is not a conservative idea or a liberal idea. It's not left or right. It's populism at its best."
Changing the nature of finance capitalism is a long road, to be sure, and the industry will resist change every step of the way. But the fight begins in earnest when people decide to move their money.