Killing Zombie Banks: The Double Tap

There's been a lot of talk lately of people pulling money out of B of A and other bailed out banks. I completely support this. I've been calling for it for a long time(check posting history).

It is precisely the kind of protest I encourage folks to participate in for a number of reasons:

1. It is VERY capitalistic. How? Because it punishes banks through the actions of customers and not through the actions of government.

2. It will get the message across loud and clear. There's only one sound banksters hear and that's the sound of money going out the door.

3. It's easy.


I have other reasons but I think ya'll get the point.

Move your money to local banks, local credit unions or state(not STATE banks but state regional banks)banks that don't practice the kinds of repulsive financial chicanery that the big Wall St. Banks do. Show them that capitalism is still alive and well and use it to punish corporate socialism. Let's do this the American way.

Ever since these banks were bailed out they've been screwing people over on fees, monthly charges, and astronomically high usury rates. It's time to let these zombie banks die. It's time to employ the double tap method:

I agree with the op up to a point the result of the higher bank fees is from the Frank Dodd Act of 2010 which did a lot of things including giving the Fed even more power.

Pull your money out cut up the credit cards pay off those balances and really stick it to them.

Read up on the Durbin Ammendment as well.

I completely agree, Government would take too slow to do anything about it anyway and chances are they would skew it to the bank's favor in the end anyway.

I don't know if it's just me, my luck, or the type of people that live in this town but over the past 7 years I've had probably 5 or 6 separate bank accounts. All of which I got screwed on... Wells Fargo, BoA, TD Bank (when I lived back east), you name it they've probably screwed me in some way...

reply to post by neo96


I am aware of that.

But I want you to understand something first:

1. Dodd/Frank is engineered by the very people that engineered bailout and created the conditions for it to begin with.

2. If the Federal government isn't going to punish the fraud that was committed by these banks and their corporate officers then the people should, by doing the very best thing possible, USING CAPITALISM.

3. This kind of protest will accomplish MUCH more than a bunch of lefties on Wall St. screaming for Marxism.

reply to post by ArrowsNV


Howdy neighbor...interesting to see so many people from my neck of the woods here.

I use NSB. They don't engage in this type of chicanery and never have.

Another reason to move to more local banks is because the crisis in Europe is going to spread here. There's a lot of Wall St. bank exposure to their sovereign debt crisis and it would behoove anyone with a brain to divest themselves from the very entities caught up in this mess.

reply to post by projectvxn




Amen to that!!
My analogy is this.....(for the second time today on these boards)
If you are against animal abuse then why would you leave your dog with a known abuser??

Its sad to hear people go on about it and then to see them admit they use those same banks they complain about.
Also to add...I have no debts and don't use plastic,write cheques or use credit so its easier for me to have this opinion.

I know everyone is talking credit unions, but I'm not sure about US banking law; but in Canada deposits in credit unions are insurred for less than if it's a bank. So up here it's like 70% of the insurred amount of a full bank.

Here's a list of bailed out banks and other institutions. If your excuse for not moving your money to smaller and safer banks is convenience, then you have NOTHING to complain about.

Protest with your money or stop protesting.

reply to post by projectvxn


See that was the whole purpose of that and the creation of that and consumer protection agency two things right there that were suppose to stop this and they didn't and the result was higher fees much like the care act.

Both instances a problem existed the government came in to save the day and it only compounded the problem which i agree with you again they created.

I agree with you a boycott a run on them will teach them a lesson but it's not teaching the government anything just a slight difference of opinion here is all.

reply to post by neo96


Right. I agree and I have no intention of arguing any of those points.

But if one is to be honest, we must realize that banks were, in fact, very guilty of fraud and abuse. If the government isn't going to do it's job in enforcing the rights of all involved(including contract law) then the citizens must do what is most effective, move their money to institutions that most deserve their business.

I think this kind of protest action is exactly what is needed in order to open the eyes of many politicians.

People at OWS complain that these big banks are too cozy with Washington. And they are right to say that. So if you remove those banks from the equation by showing them a taste of real failure, then they become essentially ineffective in government. No more money to spend on politicians.

reply to post by projectvxn


S+F great post and perfect visual aid


Shaade

reply to post by projectvxn


Money based on debt and fed a diet of inflation for 100 years turns into what we have now. Monster debt balloons that are too horrible to die. The parasite must die to save the host they are attached to.

been a supporter of this course of action for awhile now

good post ! Oh and Zombieland is one of my favorite movies !!!

reply to post by wayouttheredude


The Federal Reserve is the central part of it(no pun intended). Their policies are geared toward keeping zombie banks undead.

I refer to them as zombie banks because they actually died in 2008 and not a single one of them could possibly stand on their own without the voodoo of the Fed's discount window.

Double Tap indeed.