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Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

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  • Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

    As The Big Banks Post Record Profits And Pay Out Obscene Bonuses, What Should We The People Do: Stand Up Or Roll Over?


    On February 1, 1960, four students sat down at a lunch counter at the former Woolworth’s store in Greensboro, North Carolina.

    4 students!

    They were protesting racial segregation. They were denied, service, harassed and arrested.

    Greensboro was and still is a backwater, yet their courage and commitment sparked and helped drive a national movement that would, within a few years, transform this country.
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    Banks R’Us. Today, there are bank branches in almost every neighborhood — except the poorest ones where pay day lenders reign with their usury on their mind and in their interest rates. When it comes to credit, the poor pay more — and the banks know it and profit from it. There are also mortgage brokers galore in every community. Fraud is their middle name.

    They are there to do business, but they could also become convenient targets for civic engagement.

    So what is to be done? So far, very little has been. While the Banks are aggressively lobbying; citizens groups are passively sending e-mails. Never before have so many allowed so few to dominate the discourse. The banks are clearly winning over the regulators and critics.

    Nevertheless, protests against the big banks are beginning. There will be one at the end of October at the American Banker’s Association convention and greedfest in Chicago.

    But you don’t have to go to “Sweet Home Chicago” to find targets of outrage, or even trek down to Wall Street. You know where you bank! Yes many branches are just made up of ATM machines. They want your money, not to hear from you! But the bigger branches are not far. They advertise everywhere. They are everywhere, doing business as usual.

    Your money in; their profits out.

    That could change. Think of the Greensboro 4, just a few people then made enough noise to get things going.

    Today, you don’t have to call them sit-ins, just polite but firm and “protracted” conversations with the banksters. If a million people called their 800 numbers at once, what would happen? Why not informational picketing to advise consumers about how they are getting ripped off with high rates and excessive fees?
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  • #2
    Re: Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

    What would happen if a withdraw you money from BOA and put it in a local or regional bank with good marks.

    Tried to get some friends to do that this summer, but A.) what a hassle and B.) our money is insured.

    I still think it could be a movement.

    Spark?

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    • #3
      Re: Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

      Withdrew my money from Bank of America (Fleet Bank then) many years ago and put it in a little credit union. The people are nice, give free checking, arrange low interest credit cards and don't charge atm withdrawl fees. They even changed their mortgage lender away from Countrywide after a few of the members (yours truly included) complained. That's the kind of bank I can live with.

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      • #4
        Re: Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

        Originally posted by pmmeaney View Post
        Withdrew my money from Bank of America (Fleet Bank then) many years ago and put it in a little credit union. The people are nice, give free checking, arrange low interest credit cards and don't charge atm withdrawl fees. They even changed their mortgage lender away from Countrywide after a few of the members (yours truly included) complained. That's the kind of bank I can live with.
        I did the same in the spring. It was a pain, but I feel better for it. And, yes, the fees are lower.

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        • #5
          Re: Danny Schechter - What Should We The People Do: Stand Up Or Roll Over?

          I really think people should thing bigger. Something like V for Vendetta. Use all social networking media to call for a national cash withdrawal day. Get millions to sign up -and as soon as this hits the news- you will be surprised how competent everyone becomes suddenly and how Social Security/Medicare and even Education and healthcare on back on the table. Actually prosecuting corporations which are not then saved by subterfuge overturned by appeal courts and punitive damages removes etc.

          It would be an amazing wake up call to the power brokers that just 1-3 million people withdrawing an assortment of funds -can bring it all down. This would indeed then become a true democracy -as while the elite use the power of concentrated wealth -we use the power of their leverage against them.

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