Open Thread – Move Your Money
Happy Move Your Money Day! Today, November 5, is the day when thousands have pledged to move their money out of the “too big to fail” banks that got us in the mess we’re in, and invest instead in local community banks and credit unions.
The Move Your Money project is a campaign that aims to empower individuals and institutions to divest from the nation’s largest Wall Street banks and move to local financial institutions.
It has been almost three years since the Wall Street banks, through gross corruption and greed, caused the greatest economic crisis since the Great Depression that caused millions to lose their homes, jobs and livelihoods. And while the Wall Street banks have quickly returned to making record-breaking profits and bonuses, helped in large part by the $700 billion bailout by the American taxpayer, little has changed to prevent the types of abuses that created this mess.
That is where the Move Your Money project comes into play. We give individuals and institutions the tools and resources they need to divest from ‘Too Big To Fail’ banks and invest in community banks and credit unions. No longer will we stand idle as banks take extraordinary risk with our financial system for their short term profits; rather we will vote with our dollars and no longer contribute financially to the abusive practices of Wall Street. If Congress is unable to enact meaningful financial reform that will prevent another financial disaster, then we must take action into our own hands and hit the banks where it hurts them the most: their bottom line.