Author Topic: Move Your Money! (Read 8116 times)

ATT · « **on:** January 02, 2010, 09:03:01 PM »

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New banking rules for accounts and credit-cards go into effect in Feb. in the U.S.

In the meantime, banks are doing everything thet can to skirt the coming regulations by signing customers to new contracts in order to make-up for the projected loss of revenue the new banking regulations will cause.

These are the same banks (and their subsidiaries) that brought the economy down, were 'bailed out' with taxpayer money, and then refused credit to small and medium business (as well as consumers) while they continued to invest in the same Wall Street financials that required the government to bail them out. They, and Wall Street are having a banner year while unemployment continues at just under 1/2 million a month in new claims.

http://online.wsj.com/article/SB10001424052748704162104574630360393559766.html?mod=rss_Today%27s_Most_Popular

I came across what looks like a grass-roots anti-big-bank movement that seems to make a lot more sense than just 'complaining' about the situation and I think it would cause some positive changes if it caught-on.

http://moveyourmoney.info/

Personally, I went with a credit-union.

The only way to get the big-bank's attention is to vote with your feet, and your money.

Tony
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ATT · « **Reply #1 on:** January 02, 2010, 10:38:03 PM »

Although I ran into this on youtube, I see Alex Jones has picked this up, too:
http://www.prisonplanet.com/move-your-money-from-your-giant-bank-to-a-community-bank.html

And this guy sounds righteously pissed!
http://market-ticker.denninger.net/archives/1802-MOVE-YOUR-MONEY.html

Even the (normally conservative) Atlantic Monthly is getting on-board:
http://andrewsullivan.theatlantic.com/the_daily_dish/2009/12/move-your-money.html

The more I look around, the more it seems this idea is getting a lot of cross-platform support...I just did it because it seemed like a good idea...

Tony

ResinRat2 · « **Reply #2 on:** January 02, 2010, 11:05:32 PM »

Fortunately, I already have my money at one of the listed institutions; not because I was smart, only because I randomly picked a small local bank over twenty years ago.

The trouble with this approach is that I can see these giant banks watching their assets pour out the window and quickly crying to Congress to save them. The reason: TOO BIG TO FAIL!!!

So again the taxpayers will be robbed and the debt inflated even higher.

Personally, I don't know what the answer is to stop them, except the public waking up and demanding this insanity end. --- Like that is ever going to happen.

ATT · « **Reply #3 on:** January 02, 2010, 11:51:09 PM »

Quote from: ResinRat2 on January 02, 2010, 11:05:32 PM

The trouble with this approach is that I can see these giant banks watching their assets pour out the window and quickly crying to Congress to save them. The reason: TOO BIG TO FAIL!!!

Well, the thing about any kind of grass-roots populist movement is that, if it results in either majority or large-minority acceptance, it raises a pretty heavy 'public sentiment' flag to both incumbent and candidate politicians.

If they fly in the face of that sentiment, they know their chances of grabbing the 'brass ring' or staying in office are slim.

Not to say this is always the case, but in this instance, considering what we've just been through, I think it would make a big difference.

Tony

ATT · « **Reply #4 on:** January 03, 2010, 12:18:05 AM »

Here's a good one:

Chase and Citibank to Drop Out of FDIC Coverage Program

http://www.creditinfocenter.com/wordpress/2009/12/23/chase-and-citibank-to-drop-out-of-fdic-coverage-program/

Tony

infringer · « **Reply #5 on:** January 03, 2010, 01:05:04 AM »

I would like to add that small community banks are crap I had 1 grand stolen from my account from a small bank ... They blamed it on my ill will but later find out it was more then my account that was stolen from...

FDIC insured yes they were after a police report and several visits and missed work do you think I seen a dime of that money returned to me ?

NOPE NONE the kicker on this one the person who stole the money was Martha D. Layton...

They know the name they know where she lives and still I got a whopping zero cents back.

Make sure you go to a bank that has at least 3 local branches do not I REPEAT do not go to a single home town bank unless they are a credit union!!!!

It was stolen via a relay chat for the disabled 8 states away! I have never been disabled never talked to this women and never thought this would happen in a million years. Months later I warned people to pull there money out of the bank yet they kept there money in there account and got robbed as well one of them was took for 20k.

WAKE UP PEOPLE!!! you do not take action because you feel helpless or think it will not happen to you I know! I have been there. Done that. Got a Tshirt!

ATT · « **Reply #6 on:** January 03, 2010, 01:10:53 AM »

moveyourmoney.info doesn't yet include credit-unions in their list of community banks, here's a national listing for credit unions that may be helpful:

http://www.creditunionsonline.com/

Tony

ATT · « **Reply #7 on:** January 03, 2010, 01:51:55 AM »

Quote from: infringer on January 03, 2010, 01:05:04 AM

I would like to add that small community banks are crap I had 1 grand stolen from my account

That's a hell of a story. Another reason to stear clear of banks (small or large) is you don't know who 'owns' them. You might think you're dealing with a privately held small bank, until it conveniently 'changes it's name' and you discover you've been banking with B of A all along (or it's been taken over).

Credit unions are a little different, they're owned by the depositors themselves, bank personnel treat you better, higher interest on your shares and they have all the online banking features the big guys do (at least mine does).

Tony

ATT · « **Reply #8 on:** January 03, 2010, 03:45:34 AM »

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Is Your Bank on the FDIC Watch List?

If you want to know how your bank is doing, type it's name in the search box and you'll see it's rating:

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx

This is a good way to check the performance of any bank you might be planning on moving to, as well.

A short blurb on how credit unions differ from banks:

http://banking.about.com/od/creditunions/a/creditunions.htm

Tony
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Thaelin · « **Reply #9 on:** January 10, 2010, 04:06:48 PM »

I simply fired my banker(s). Filed BR and gave back their
worthless plastic. Moved myself to a CU and now I can live.
I tried it their way and it left me 0. Too big to fail? Not hardly.
Want to watch the pig squeal, dont use them.
Now that I am out of debt, they all are trying to get me back
into it. That so called good credit score is only proof that you
are paying them the blood money in monthly interest payments.
Piss on them. My credit card is a second debit card that only has
enough in it to cover what I need to get. Last convention the
hotel refused to make my reservation because I had no "credit card"
in my name. Need to get people to file charges of discrimination
every time they pull that stunt.

thay

ATT · « **Reply #10 on:** January 11, 2010, 06:59:07 AM »

Quote from: Thaelin on January 10, 2010, 04:06:48 PM

I simply fired my banker(s).

Right-on, thay. If they're going to obstruct small business from the credit they need to operate, and exacerbate unemployment while taking billions in tax-payer provided bailout, maybe it's time the general public 'bails out' from their customer base.

I know it feels a lot cleaner being with a depositor-owned credit union than with a profiteering bank, I hope more people do what we've done.

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Author Topic: Move Your Money! (Read 8116 times)

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