I’m very excited about a movement brewing to move money out of the big four banks (Chase, Citi, Wells Fargo, and Bank of America) and into smaller, community-based banks. The big banks took our bailout money, then earned record profits, returning to the same practices that caused the collapse in the first place. In spite of their profits, they have cut lending by 100 billion dollars in spite of the bailout money that was intended to get them lending again.
In the meantime, local community banks, most of whom avoided the corrupt practices of the big banks, are having difficulty getting by, and government policies that keep propping up the big guys are making things more difficult for banks who have followed the rules.
A group of people came up with an idea to help the little banks while simultaneously sending a message with teeth to the greedy, corrupt thieves who caused the meltdown in the first place. The idea is simple. If enough people move their money out of the big four and into smaller, local, solvent institutions, the system will become more balanced so it can be stronger, more stable, and productive, working for economic growth instead of against it.
You can get more information at the website www.MoveYourMoney.info. The site will have a page where you can enter your zip code to find a highly ranked local bank in your area.
Move your money. Let’s show those banks who think they are too big to fail that we aren’t putting up with their corruption any longer.