“Invest in Main Street not in Wall Street”, so says the slogan for the Move Your Money campaign that has already seen more than 800,000 customers are reported to have closed accounts with too big to fail banks like BofA, Wells Fargo, Chase and Citibank in favor of democratically run local non profit credit unions.
Many credit unions have pledged to stay open today to facilitate moving your accounts.
We have been voting for a couple hundred years and here is where we are.
1. Congress didn’t pay a dozen Freddie-Mac managers almost a $13 million bonus while other writers say the company is on the brink of failure.
2. Although Congress members may be in the top 1%, they aren’t the only ones that have enjoyed a 279% wealth increase while the poor, during the same time frame, enjoyed an 18% increase.
3. Congress didn’t approve the bonus paid to this or that CEO of $millions while the firms they ran were busy laying off employees to maintain “profits”.
4. Overall it just seems that corporate profits are excessive while what they actually pay in cash money as taxes is very little. GE is the most recent example.
5. The 1% group is keeping more and sharing less and that needs to change.
6. It is true Congress could make better rules but corporatocracy and greed are running the good ‘ol US of A and until that changes we can vote ourselves silly and there will only be a small change in the smiling faces on TV telling us how much better they are going to make it for the rest of us.
Blaming the banks, and Wall Street, is misplaced Blame. Congress, and the President are responsible for the bail out, and put us all, including future generations on the hook for the bill.
This also includes money lent to home owners who did not qualify for a payback loan, Congress, not the banks are responsible.
Move your money if you will, that will not solve the problem. Holding the Congress responsible, and voting them out of office will begin to correct the situation.