Dec 31, 2009

Move Your Money For A Better Economy

For businesses in America who are frustrated with the economy, I have a simple question:

Are you banking with one of the fourteen banks who were "too big too fail"?

You know which banks I'm talking about... they were responsible for the last great depression and once again, they were responsible for the recent collapse in 2008/2009, too.

Banks who are backed by the families named Morgan, Chase, Goldman-Sachs, etc., along with banks like Bank of America, Citibank, and, Wells Fargo, etc..

Are you going to continue to support the banking policies of these banks? If so, you might as well start wearing an "I love Potter" shirt every New Year to show off your allegiance.

If you're saying, "I love George Bailey" well then do yourself and your community a favor and move your money from the "big fourteen" to a regional, community bank. You money is insured by the FDIC, and you'll probably get better service, as well.

This concept is inspired by a post I read at the Huffington Post:

"The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best. Consider it a withdrawal tax on the big banks for the negative service they provide by consistently ignoring the public interest. It's time for Americans to move their money out of these reckless behemoths. And you don't have to worry, there is zero risk: deposit insurance is just as good at small banks -- and unlike the big banks they don't provide the toxic dividend of derivatives trading in a heads-they-win, tails-we-lose fashion."
Can you agree to this principle?

Watch the video and then decide for yourself if this is a good New Year's Resolution regarding your money:

Per Huffington, please "watch Eugene's amazing video, then go to to learn more about how easy it is to move your money. And pass the idea on to your friends (help make this video -- and this idea -- go viral!)."

Moving your money from a "big fourteen" bank to a smaller, regional bank can be one way you can contribute to the growth of your local business community and help rebuild our economy the good, old-fashioned, American way.

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