#OccupyOakland Protests Wells Fargo, then Opens an Account

Hmmm... Why not place the money into a Credit Union like they wanted all of us to do last Saturday?

Last week, one or more Occupy Oakland protesters smashed the windows of a Wells Fargo branch.

This week, the group’s general assembly agreed — in a near-unanimous vote Monday — to temporarily place $20,000 of the group’s money in an account at the country’s fourth-largest bank holding company, Wells Fargo Bank.

Whether the decision was an abandonment of the movement’s opposition to big banks or an ominous affirmation of the hold that big banks have on Americans, Twitter was ablaze with outrage last night, as news spread about the 162-8 vote, from which 16 people abstained.

The Ayes have it 162-8... Any questions?

Here's why...

According to meeting minutes posted on a Facebook page for the “Oakland General Assembly,” the group’s lawyer, Tim Fong, will temporarily keep a $20,000 donation from Occupy Wall Street in a Wells Fargo account, until he can finalize paperwork needed to open a credit union account for the group. The move is necessary to expedite the money’s availability for bailing out jailed protesters, the minutes said.

Glad the money is going to be put to good use to bail protesters out of jail. How many families could that $20k feed this Thanksgiving??

biggovernment.com...-371412

Its just red tape for a group so opposed to it in the first place.

Occupy Wall Street donated the money to Occupy Oakland with stipulation that it be put toward medical and legal needs.

The minutes said Fong was waiting on the state to finalize paperwork establishing Occupy Oakland as an unincorporated association, which could take up to two weeks.

Cue the non-profit status in 5- 4-3-2-1...

Read more at the San Francisco Examiner: www.sfexaminer.com...

Every story like this that comes out about any Occupy entity reminds me of Animal Farm.

Thank you for sharing

Can't have 20k in cash laying around when you have homeless people with sticky fingers around, or people who are not as good as they let on to be. That 20k would have been stolen if it was not put into a 'temporary' bank account.

Truth is stranger than fiction.

From your source:

According to meeting minutes posted on a Facebook page for the “Oakland General Assembly,” the group’s lawyer, Tim Fong, will temporarily keep a $20,000 donation from Occupy Wall Street in a Wells Fargo account, until he can finalize paperwork needed to open a credit union account for the group. The move is necessary to expedite the money’s availability for bailing out jailed protesters, the minutes said.

I am totally puzzled by the differing movements against the gov't. They've got them bickering with each other. OWNED once again. Until people recognize what's going on, no movement will have any impact.

reply to post by jibeho


Is that not the height of hypocrisy to demand everyone remove their money then turn around and open an account? Those evil banks need to be punished….that is, unless OWS needs to use its services temporarily. Once they have their credit union account open they will RESUME the punishment! How ridiculous is that? REALLY?

Do as we say!

Not as we do!

The hypocrisy is getting deep.

Where are my Hip-waders?

I understand needing to secure the money.
But why not a local credit union?

Originally posted by jibeho
Glad the money is going to be put to good use to bail protesters out of jail. How many families could that $20k feed this Thanksgiving??

The U.S. could have been the first country to abolish hunger if we used even a fraction of the trillions we spend on space and the military. It's silly to point this out about the protestors.. that money was donated to them by private citizens who donated it to support OWS, if they wanted the money to go for charity they would have donated it to a charity.

reply to post by Momus


That apparently is where it's going. The wells fargo account is temporary until they could open an account with a credit union. I'd refer you to interpid's post above ^^

Originally posted by Momus
I understand needing to secure the money.
But why not a local credit union?

Easy:

Originally posted by jibeho

The minutes said Fong was waiting on the state to finalize paperwork establishing Occupy Oakland as an unincorporated association, which could take up to two weeks.

And:

According to meeting minutes posted on a Facebook page for the “Oakland General Assembly,” the group’s lawyer, Tim Fong, will temporarily keep a $20,000 donation from Occupy Wall Street in a Wells Fargo account, until he can finalize paperwork needed to open a credit union account for the group. The move is necessary to expedite the money’s availability for bailing out jailed protesters, the minutes said.

Well, they could have left the money in a mattress for a couple of weeks. It's just another slam against a movement that isn't happy with the gov't. And you guys are eating it up. Sorry, no ketchup.

Originally posted by Drezden

Originally posted by jibeho
Glad the money is going to be put to good use to bail protesters out of jail. How many families could that $20k feed this Thanksgiving??

The U.S. could have been the first country to abolish hunger if we used even a fraction of the trillions we spend on space and the military. It's silly to point this out about the protestors.. that money was donated to them by private citizens who donated it to support OWS, if they wanted the money to go for charity they would have donated it to a charity.

cant say it better
star for sensable post

xploder

Originally posted by AzureSky
Can't have 20k in cash laying around when you have homeless people with sticky fingers around, or people who are not as good as they let on to be. That 20k would have been stolen if it was not put into a 'temporary' bank account.

I don't think that we are talking about cash because the money was coming from OWS to Occupy Oakland... I would expect an electronic transfer from one Wells Fargo Account to another. Shhh... Don't tell anyone

Originally posted by SLAYER69

Do as we say!
Not as we do!

The hypocrisy is getting deep.

Where are my Hip-waders?

edit on 9-11-2011 by SLAYER69 because: (no reason given)

I hope you bought the next size up because pretty soon it will be up to your ears!!!

ummm, banks and bail ... i'm wondering how much of that $20g is absorbed by lawyer fees ??
i'm betting the medical needs will get placed on the back burner as usual.

for those who don't know, the temporary placement of funds with Wells was not necessary.
No member-owned credit union is that difficult to engage in business.

this sure has me wondering about the treasury dept in the NY OWS ... word has it that they cannot afford to increase their laundry stipulations but they can forward 20 grand for legal fees, while at the same time they complain about obtaining permits ???
at this point, something here smells more than fishy.

Originally posted by Drezden

Originally posted by jibeho
Glad the money is going to be put to good use to bail protesters out of jail. How many families could that $20k feed this Thanksgiving??

The U.S. could have been the first country to abolish hunger if we used even a fraction of the trillions we spend on space and the military. It's silly to point this out about the protestors.. that money was donated to them by private citizens who donated it to support OWS, if they wanted the money to go for charity they would have donated it to a charity.

You're right, the "Fat Cats" in the Occupy movement can spend their money anyway they see fit. Jail Bail is always a good investment.

I think I'll double my contribution to my local food bank and City Mission this Holiday season. Thanks for the encouragement!!

Originally posted by Honor93
ummm, banks and bail ... i'm wondering how much of that $20g is absorbed by lawyer fees ??
i'm betting the medical needs will get placed on the back burner as usual.

for those who don't know, the temporary placement of funds with Wells was not necessary.
No member-owned credit union is that difficult to engage in business.

this sure has me wondering about the treasury dept in the NY OWS ... word has it that they cannot afford to increase their laundry stipulations but they can forward 20 grand for legal fees, while at the same time they complain about obtaining permits ???
at this point, something here smells more than fishy.

My hope is….Yes, it’s a stretch but…….

Maybe this little exercise in running a business, managing money and having to prioritize will be a good learning experience for them. Maybe they will see that they are doing (on a small scale) exactly what the evil capitalists they are protesting do every day.

NAH!! Won’t Happen!!

edit - - - - By the way, since they are getting all this money rolling in, where are the health benefits, retirement plans and all the other entitlements for their employees. Will the evil 1% at the top of OWS not provide it?

reply to post by Honor93


I ran a thread on the fighting over money withing the OWS movement a little while ago. Back then, they had $550k and counting to spend and the inmates were bickering over their fair share of the money... Go figure.

www.abovetopsecret.com...

Why doesn't the group simply do as they have been doing this whole time?

Deny they were involved OR that it was the actions of a few bad apples or outside agitators?

Originally posted by intrepid

Originally posted by Momus
I understand needing to secure the money.
But why not a local credit union?

Easy:

Originally posted by jibeho

The minutes said Fong was waiting on the state to finalize paperwork establishing Occupy Oakland as an unincorporated association, which could take up to two weeks.

And:

According to meeting minutes posted on a Facebook page for the “Oakland General Assembly,” the group’s lawyer, Tim Fong, will temporarily keep a $20,000 donation from Occupy Wall Street in a Wells Fargo account, until he can finalize paperwork needed to open a credit union account for the group. The move is necessary to expedite the money’s availability for bailing out jailed protesters, the minutes said.

Well, they could have left the money in a mattress for a couple of weeks. It's just another slam against a movement that isn't happy with the gov't. And you guys are eating it up. Sorry, no ketchup.

I'm not eating anything up or getting involved in any "slam". I'm just trying to understand what is going on and looking for clarification (which has been provided).