Just as I was saying I saw no plans, goals or actions coming from the Occupy Wall Street crowds, one finally manifested itself over the weekend, and I have to admit, it was a doozy. If adopted by a great number of people, it could send a very powerful message to the large banks. It was a declared day for people to close their accounts at large banks, and move their money to credit unions or small regional banks. Of course, there is nothing that says such a movement must last for only one day. It can essentially go on for as long as there are people who want to move their money away from big banks.
The bigwigs that run the large banks care nothing about protests, marches, sign waving , speeches, and all the rest of such actions. They yawn and say, "So what." But touch their money, and you have their attention, and then some.
This is exactly the kind of action that is needed to start showing that the people are fed up with what the banking industry has been doing to us and put some real teeth in our protest. If only a few million people (more, of course, would be even better) removed their money from the large banks, that would be a big thumb in the bank's collective nose. It is the famous line from the film, Network, "I'm as mad as hell and I'm not going to take it anymore," but this time said to real financial fat cats by real people. It is a firm sign to the banks that people are taking positive action for their cause.
My wife and I will soon be joining those ranks. We are already a customer of a regional bank, but it is buying other banks, growing rapidly, and starting to find ways to nit-pick its customers to death with additional fees. It seems to have designs on becoming a large, or at least larger bank. That's when it's time to say, stop the bus and let us off. We will join the exodus to the credit unions within a short while.
If you are still banking with a large bank perhaps you will join us in leaving, and spread the word to others. It could do wonders and save you a few bucks at the same time. It's a first step.
Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts
Monday, November 7, 2011
Saturday, November 5, 2011
Occupy Wall Street - A Second Take
Occupy Wall Street (OWS) is now in its second month and, instead of going away, it has increased to hundreds of cities, large and small, in our country. In my opinion (isn't that what most blogs are about....an individual opinion) is this good or bad? The answer to both sides of that question is yes!
The good part is that the demonstrations, sit-ins, occupations, whatever you choose to call them have touched a nerve in this country. which has long simmered just below the surface. That being the general discontent with the banks and the fat cats who control them. Discontent because, while job seekers, home owners, and the middle class in general suffer from a long lasting financial downturn, these same banking fat cats have prospered at the expense of those in financial need. With ever increasing new fees, the large banks are constantly inventing new ways to separate the average citizen from their money, and they are doing so while sitting on huge profits, and large piles of cash, which normally would be used for loans. So, they sit on their piles of cash and nickle and dime us to death. Citizens have had it with the blatant gouging and money grubbing of the banks. No one denies that banks, like any other business, should make a healthy profit, for otherwise they wouldn't remain in business. But the extent that they are running roughshod over the public no longer represents making a healthy profit, but is instead, a prime example of big business out of control. Many in the OWS movement are out of work people, homeowners who are over their head and stand to lose their homes, union members who have seen the Republicans severely curtail their bargaining rights, and otherwise just plain fed up people.
And that brings us to the bad side of the Occupy Wall Street movement. There are many justifiable causes represented in this movement. Out of work people, home owners, union members and others have legitimate complaints about problems and situation that need to be addressed. However, there are two troubling aspects to this movement. The first is the lack of goals and actions. When someone is standing on your foot, hollering about it for a brief moment is understandable, but then you must do something about it. Yes, hollering will get the attention of the person who is accidentally standing on your foot and they often will remove their foot from yours. But for those who are doing it deliberately (as are the banks, Republicans, and others), then you must have a plan to correct the situation. I have yet to see any such plans among the OWS crowd. All good movements start with protests, but those that accomplish needed change do so with plans and action. We hear the occupiers and many of us agree they have raised valid concerns. Now where is the action? Where are the goals? Where are the plans to reach those goals?
The second troubling thing about the OWS movement is the trouble makers (as Mr. Rogers might say with his calming voice, "Can you say anarchist?"). The recent violence in Oakland, turned a large, but peaceful demonstration into chaos. The cause was a mere 80 to 100 anarchist and thugs who were not there for any political or social action, but merely to cause as much mayhem and damage to property as possible. Until the OWS can police itself and rid their ranks of these punks, their message will be diluted at every turn. Yes, police (who have been shown to have a few anarchists and mayhem makers in their own ranks) can stop such violence after the fact, but to be truly effective, it must be stopped from within before it happens,
I'm rooting for the movement in hopes that it will bring about needed change in the business and social atmosphere of our country. In my last blog entry I said if the movement did not show some organization and goals it would disappear as a forgotten footnote in history. That turned out not to be true, as it has now grown large enough and has gone on long enough so that whether it bring about positive change in our country or not, it will not be forgotten.
The good part is that the demonstrations, sit-ins, occupations, whatever you choose to call them have touched a nerve in this country. which has long simmered just below the surface. That being the general discontent with the banks and the fat cats who control them. Discontent because, while job seekers, home owners, and the middle class in general suffer from a long lasting financial downturn, these same banking fat cats have prospered at the expense of those in financial need. With ever increasing new fees, the large banks are constantly inventing new ways to separate the average citizen from their money, and they are doing so while sitting on huge profits, and large piles of cash, which normally would be used for loans. So, they sit on their piles of cash and nickle and dime us to death. Citizens have had it with the blatant gouging and money grubbing of the banks. No one denies that banks, like any other business, should make a healthy profit, for otherwise they wouldn't remain in business. But the extent that they are running roughshod over the public no longer represents making a healthy profit, but is instead, a prime example of big business out of control. Many in the OWS movement are out of work people, homeowners who are over their head and stand to lose their homes, union members who have seen the Republicans severely curtail their bargaining rights, and otherwise just plain fed up people.
And that brings us to the bad side of the Occupy Wall Street movement. There are many justifiable causes represented in this movement. Out of work people, home owners, union members and others have legitimate complaints about problems and situation that need to be addressed. However, there are two troubling aspects to this movement. The first is the lack of goals and actions. When someone is standing on your foot, hollering about it for a brief moment is understandable, but then you must do something about it. Yes, hollering will get the attention of the person who is accidentally standing on your foot and they often will remove their foot from yours. But for those who are doing it deliberately (as are the banks, Republicans, and others), then you must have a plan to correct the situation. I have yet to see any such plans among the OWS crowd. All good movements start with protests, but those that accomplish needed change do so with plans and action. We hear the occupiers and many of us agree they have raised valid concerns. Now where is the action? Where are the goals? Where are the plans to reach those goals?
The second troubling thing about the OWS movement is the trouble makers (as Mr. Rogers might say with his calming voice, "Can you say anarchist?"). The recent violence in Oakland, turned a large, but peaceful demonstration into chaos. The cause was a mere 80 to 100 anarchist and thugs who were not there for any political or social action, but merely to cause as much mayhem and damage to property as possible. Until the OWS can police itself and rid their ranks of these punks, their message will be diluted at every turn. Yes, police (who have been shown to have a few anarchists and mayhem makers in their own ranks) can stop such violence after the fact, but to be truly effective, it must be stopped from within before it happens,
I'm rooting for the movement in hopes that it will bring about needed change in the business and social atmosphere of our country. In my last blog entry I said if the movement did not show some organization and goals it would disappear as a forgotten footnote in history. That turned out not to be true, as it has now grown large enough and has gone on long enough so that whether it bring about positive change in our country or not, it will not be forgotten.
Friday, October 7, 2011
Occupy Wall Street - A Different Take
It has been featured in the newspapers, magazines, and local and national TV news. I'm talking of course about what is commonly known as "Occupy Wall Street." It has also been described in various ways, some of which are "The voice of the people", "The liberal answer to the Tea Party", or "A sign that a change is coming."
As a liberal Democrat, one would think I would embrace this movement with open arms. I'm not sure how you embrace something with open arms, but you get the idea. The problem is I don't. ahh....but then again, I do. Confused? Me too.
Protests make those involved and many not involved with them feel good, because they are doing something. They often are a fore runner of a more permanent action, cause, or movement. Also, they bring light to a problem that needs fixing, and the banks are certainly a problem that needs fixing.
However, in looking at the Occupy Wall Street movement in New York, and now in other US cities, there are troubling aspects, not so much because of what is happening, but more because of what is not happening. First and foremost, where is the organization and where are the stated objectives? I have made no bones about that fact that I do not like, or respect the Tea Party movement or what they stand for. However, only a fool would claim they are not organized. They are, and that's what makes them so dangerous to our country.
Like most mass movements, Occupy Wall Street is a conglomerate of different factions. The unemployed are a large part of the crowd, as are the employed who are just managing to get by. But so are the anarchists, and the hangers-on, and thrill seekers who have nothing better to do. The anarchists are dangerous and want to cause mayhem and destruction. The hangers-on and thrill seekers just get in The way.
Many of the major banks were saved with a bailout (a loan that has been almost entirely repaid, not a hand out as the Tea Party claims). They were saved from conditions which they created for themselves with greed, fraud, and just plain bad business practices. Saving them was a bitter pill, but as I have pointed out in the past, not saving them would have made the financial condition of our nation far, far worse than it already is. What we need now is government regulation (with teeth) that will force them to start circulating (via loans and other avenues) the trillions of dollars on which they are currently sitting. We need that money to flow through our country once again.
Some in this new movement want to shut down Wall Street, and while Wall Street, itself, has some answering to do for some of its transgressions and shady deals, we must never forget, that the investments of many average Americans are also tied up in stocks, bonds and mutual funds, and harming Wall Street also harms all of those citizens, their families, and their retirement.
So, will any long lasting good actually come from the Occupy Wall Street movement? I sincerely hope so, as it could be the start of a needed political force to offset the stupidity of the Tea Party. If this is to happen, however, we will need less people in the demonstrations dressing like zombies (never have quite figured that out other than some type of street theater) and more organization, goals, and plans to achieve those goals in order to get the money flowing in this country again, create jobs, and stop the banks from lining their own pockets at the expense of average Americans.
If we can do that, the Occupy Wall Street movement will have positive results for the country. If not, it will soon be a forgotten footnote in history.
As a liberal Democrat, one would think I would embrace this movement with open arms. I'm not sure how you embrace something with open arms, but you get the idea. The problem is I don't. ahh....but then again, I do. Confused? Me too.
Protests make those involved and many not involved with them feel good, because they are doing something. They often are a fore runner of a more permanent action, cause, or movement. Also, they bring light to a problem that needs fixing, and the banks are certainly a problem that needs fixing.
However, in looking at the Occupy Wall Street movement in New York, and now in other US cities, there are troubling aspects, not so much because of what is happening, but more because of what is not happening. First and foremost, where is the organization and where are the stated objectives? I have made no bones about that fact that I do not like, or respect the Tea Party movement or what they stand for. However, only a fool would claim they are not organized. They are, and that's what makes them so dangerous to our country.
Like most mass movements, Occupy Wall Street is a conglomerate of different factions. The unemployed are a large part of the crowd, as are the employed who are just managing to get by. But so are the anarchists, and the hangers-on, and thrill seekers who have nothing better to do. The anarchists are dangerous and want to cause mayhem and destruction. The hangers-on and thrill seekers just get in The way.
Many of the major banks were saved with a bailout (a loan that has been almost entirely repaid, not a hand out as the Tea Party claims). They were saved from conditions which they created for themselves with greed, fraud, and just plain bad business practices. Saving them was a bitter pill, but as I have pointed out in the past, not saving them would have made the financial condition of our nation far, far worse than it already is. What we need now is government regulation (with teeth) that will force them to start circulating (via loans and other avenues) the trillions of dollars on which they are currently sitting. We need that money to flow through our country once again.
Some in this new movement want to shut down Wall Street, and while Wall Street, itself, has some answering to do for some of its transgressions and shady deals, we must never forget, that the investments of many average Americans are also tied up in stocks, bonds and mutual funds, and harming Wall Street also harms all of those citizens, their families, and their retirement.
So, will any long lasting good actually come from the Occupy Wall Street movement? I sincerely hope so, as it could be the start of a needed political force to offset the stupidity of the Tea Party. If this is to happen, however, we will need less people in the demonstrations dressing like zombies (never have quite figured that out other than some type of street theater) and more organization, goals, and plans to achieve those goals in order to get the money flowing in this country again, create jobs, and stop the banks from lining their own pockets at the expense of average Americans.
If we can do that, the Occupy Wall Street movement will have positive results for the country. If not, it will soon be a forgotten footnote in history.
Thursday, March 17, 2011
The War On The People.
If you still have doubts about the Republican controlled House of Representatives favoring big business over the welfare of the people (in this case the citizens of the United States), consider the following two articles from yesterday's paper.
The bureau is chiefly designed to give consumers simplified information about financial products and protect them from unfair practices. Priorities Warren (Editors note: The chief of the new bureau) considers important include regulating mortgages, credit cards and non-bank financial companies like mortgage brokers, payday lenders and private providers of student loans.
GOP lawmakers also challenged the bureau's role in a push by federal agencies and the 50 state attorneys general to force five large U.S. banks to agree to make it easier for struggling homeowners to avoid foreclosure and rework their mortgages.
And then there is this:
By Kathleen Hennessey
The bill was approved by the House Energy and Commerce Committee in a largely party-line vote. Republicans argued that action by the EPA, coming after Congress failed to pass a climate and global-warming bill, would impose burdensome and unnecessary rules on industry.
Democrats cast the measure, called the "Energy Tax Prevention Act," as a skirmish in an ongoing GOP war on the science of global warming. The bill is unlikely to win significant support in the Senate, where Democrats hold the majority.
The Republicans would like to weaken the environmental protections we enjoy, while at the same time allowing credit card companies, banks, payday lenders and the like continue to gouge the public with unjust and sometimes illegal practices.
I particularly liked the phrase where the Republicans say "would impose burdensome and unnecessary rules on industry." Would one of those rules be about not killing some of us with their toxic waste?
Some days, I don't have to write this blog, as the Republicans all but write it for me.
More later............................
The Associated Press
WASHINGTON —
House Republicans said Wednesday that a new government agency designed to protect consumers from problems with mortgages, credit cards and other lenders has too much power. They also criticized it for participating in a federal-state effort to force mortgage servicers to change the way they foreclose on troubled homeowners.The bureau is chiefly designed to give consumers simplified information about financial products and protect them from unfair practices. Priorities Warren (Editors note: The chief of the new bureau) considers important include regulating mortgages, credit cards and non-bank financial companies like mortgage brokers, payday lenders and private providers of student loans.
GOP lawmakers also challenged the bureau's role in a push by federal agencies and the 50 state attorneys general to force five large U.S. banks to agree to make it easier for struggling homeowners to avoid foreclosure and rework their mortgages.
And then there is this:
By Kathleen Hennessey
Tribune Washington bureau
WASHINGTON — A House committee on Tuesday advanced a bill that would block the Environmental Protection Agency (EPA) from regulating greenhouse gases, boosting a top Republican priority and aiming a blow at the Obama administration and states that favor tougher environmental regulations.The bill was approved by the House Energy and Commerce Committee in a largely party-line vote. Republicans argued that action by the EPA, coming after Congress failed to pass a climate and global-warming bill, would impose burdensome and unnecessary rules on industry.
Democrats cast the measure, called the "Energy Tax Prevention Act," as a skirmish in an ongoing GOP war on the science of global warming. The bill is unlikely to win significant support in the Senate, where Democrats hold the majority.
The Republicans would like to weaken the environmental protections we enjoy, while at the same time allowing credit card companies, banks, payday lenders and the like continue to gouge the public with unjust and sometimes illegal practices.
I particularly liked the phrase where the Republicans say "would impose burdensome and unnecessary rules on industry." Would one of those rules be about not killing some of us with their toxic waste?
Some days, I don't have to write this blog, as the Republicans all but write it for me.
More later............................
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