Hat Tip to Why Not!
Uppity has been encouraging us to move our money to small, hometown banks and credit unions for a few years. She has a handy link around someplace where you can look up your bank and compare its soundness to other banks in your area.
Occupy Wall Street is – well- occupying a park. But the theme seems to be the banks and Wall Street and rich people are evil. Up to this point they have no official “demands” or at least none I could find. Though everybody and anybody can post their own suggestions on the OWS forums.
Then Why Not posted a quote in the comments on Lorac Thursday that got me intrigued.
“Bank Transfer Day”
• Open an account with a credit union (or local Independent Bank).
• Transfer your funds to the account (online or in person) by Nov. 5.
• Follow your bank’s procedures to close your account.
So naturally I went hunting. (What’s a ferret to do?)
TADA! Found a story about it.
Now comes an offshoot of Occupy Wall Street that takes aim at banks where it hurts them most — in their vaults.The social uprising — called “Bank Transfer Day” — encourages bank customers to take their cash out of big banks and put it in smaller banks and credit unions instead.
“Together we can ensure that these banking institutions will always remember the 5th of November!! If the 99% removes our funds from the major banking institutions on or by this date, we will send a clear message and give the 1% a taste of the fear that we experience every day when we aren’t able to pay for our rent, food, medication, utilities, student loans, etc.”
So Uppityites- what say you? Initially I thought OUTSTANDING! An actual actionable item from OWS. One that has the potential to – if it grows large enough and enough people take part- to actually make a difference! I can DO that! Then evil old capitalist second thoughts jumped in. What happens to 401k’s and pension plans with investments in those banks? I am sure one of the Uppity commenters can shed light on that for us.
Then another thought struck me. Somebody thought this action up- OWS or not. Somebody who knows that little ditty
Remember, remember, the fifth of November,
Gunpowder, treason and plot.
I see no reason, why gunpowder, treason,
Should ever be forgot.
Guy Fawkes. Gunpowder Plot of 1605. Failed attempt to blow up the House of Lords.
Clever little somebody who thought up this 5th of November attempt to assassinate the Big Banking Houses.
Or am I reading too much into a clever idea?