Move Your Money Project -- from Democracy Now! this a.m.

[EFerrari]

Move Your Money: Project Urges People to Transfer Money Out of Nation’s Largest Banks Into Local Community Banks



Economist Robert Johnson, columnist Arianna Huffington and filmmaker Eugene Jarecki, among others, have come up with a new proposal that would allow ordinary people in this country to channel their anger over the Wall Street bailout while also helping invigorate community banking. We speak with Rob Johnson about Move Your Money. Includes rush transcript

Video, audio, transcript at link

http://www.democracynow.org/2010/1/4/move_your_money_project_urges_people

[Cleita]

1. I've already done it and I highly recommend others doing so as well. n/t

[valerief]

2. I plan to do this. Does anyone know of credit card with a non-usury rate?

I don't want to have keep transferring balances to 0% cards every six months. I'd rather have a constant card.

[Cleita]

4. My credit union actually offers one as well. That's the next thing I'm going

to take care of. Unfortunately, it's still Visa but it has limits on interest and must operate according to the credit union rules.

[valerief]

5. Thanks. I plan to open a checking account at a local credit union tomorrow. I'll ask them there. nt

[Blue_In_AK]

14. I have a VISA credit card through my credit union.

The interest has been 10.5% for years. They didn't even raise it when I got behind for a couple of months a few years ago.

[valerief]

16. Wow! In AMERICA? That's wonderful. nt

[T Wolf]

3. We have all our accounts at a local bank, including two home equity loans. The only

big-bank link we have is our mortgage with Wells Fargo (done years ago at a fantastic rate).

Have only ever gotten great and personal service from the local's branch personnel.

Starve the beast!

But the reality is that the majors have the big accounts locked up and those are the only ones they really pay attention to.

[laughingliberal]

10. For companies who only care about the big accounts they already have locked up they sure do a lot of

marketing. Must be some reason they still go after us chickens. One nice note I know of is one of the wealthiest families in our area has almost all their accounts at a local bank. We do quite a bit of work for them and I always smile when we get our checks from them drawn on a nice little community bank.

[EFerrari]

13. I read that BofA made most of its profit from NSF charges.

:shrug:

[G_j]

6. K&R

[mod mom]

7. Beth, Have you read this proposal-The Green Bank:

The Green Bank And Green Jobs

By Reed Hundt - December 8, 2009, 3:31PM
I'm the co-chair of the Coalition for the Green Bank. Here's a white paper on the project we produced for the president's Jobs Summit. I wanted to share it with the TPM audience. Let us know what you think.


The proposed bank would be a non profit, private-public, non-governmental institution w a clear focus on creating green jobs.

http://www.scribd.com/doc/23884730/The-Green-Bank-and-Green-Jobs

I posted this after discovering it and it went no where. I found the concept appealing, a banking entity that would skip the huge top salaries and place $ into businesses/people who support sustainability, and living wages. As I read it I thought how great it would be to push anentire separate economy that supports progressive ideals!

[laughingliberal]

8. Sounds promising. nt

[Ignis]

9. Great stuff, thanks for the link.

:thumbsup:

[EFerrari]

11. My pleasure. Sounds like a very smart project on a lot of levels. n/t

[Ignis]

12. To borrow an evil phrase and use it for good:

"Starve the beast(s)."

[skipos]

15. I would like to put some money in a CD, and my local rates suck compared

to the large banks. I am not sure what I will end up doing.

[blondeatlast]

17. I've planned to do this for a while, and will once my divorce is final. nt