Wikinvest Wire

Bill Maher says "Move your money"

Wednesday, January 13, 2010

Wall Street's titans of global finance are gathered in Washington today to answer questions posed by the Financial Crisis Inquiry Commission in an effort to better understand how things went so horribly wrong back in 2008.

Meanwhile, the "Move your Money" campaign continues to gather pace as Main Street is prodded to vote with their feet, getting a little encouragement from Bill Maher today.


Visit MoveYourMoney.info to find a community bank near you. Click here for answers to frequently asked questions about how to move your money.

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12 comments:

Anonymous said...

Don't all banks operate in the same manner and are protected by the FDIC system? I don't get it. Why move your money?

Dan said...

I've said this before about "move your money", just not sure if I stated it here.

This is the same as a run on the banks, which, under a fractional reserve system, will doom the depositors as well. Also, when I checked with this site as for "local" banks, there was only one bank in my area that was close enough to warrant a "local banking" label. And this bank was also a recipient of TARP funds. They're no more sound than the banks this movement is trying to screw.

As long as they're engaged in fractional reserve lending and clearing through the central bank, it's all the same bank.

Adam said...

At the end of the article there is a postscript about Credit Unions. That is where most of my money is.

Anonymous said...

What difference does it make if people deposit? The banks just print their own money, and lend that out. All they do is repackage loans for sale overseas anyway, with free taxpayer guarantees.

Its all a big scam. You would have to take the electronic printing press away from them to force them to offer decent customer service, and adopt sensible business practices. Along with getting rid of the free taxpayer guarantees of Freddie/Fannie repackaging.

Anonymous said...

OneWest bank came up on the list of banks in my area. They used to be Indymac and are in the same league as all the other big bank institutions in my opinion.

dimitri said...

Well, Well, Well,

You guys don't get it. When the stock holders get a whiff that the deposit base is erroding, the stock will get to $1.00. the bank is doomed. Dead man walking.

Anonymous said...

Not-for-profit credit unions make more sense. The public owns them.

Anonymous said...

You people are clueless windblowers, what is your plan of action? What ARE YOU going to do to effect change? There is nothing more American these days than sitting around spewing opinions while the only action you do is push the remote control buttons to your TV.

Not only did I move money out of bailout banks, I went a step further and started operating in all cash. Is it a little less convenient? Sure, but it is a hell of a lot more secure than having it in the hands and system of the broken bankers. If you want more of the same, keep being a blow hard that does nothing.

Anonymous said...

Do people actually listen to Bill Maher? What a nobody !

Anonymous said...

1. Move Your Money is not about how safe your bank is. Yes, all banks have FDIC insurance. It's not about TARP money either. It's all about the bonuses banks are paying ($200,000 to a secretary?!)

2. No, this is not the same as a run on the banks. Individual checking and saving accounts are only a small fraction of the six major banks' business.

3. This is not a Bill Maher movement...go read the Huffington Post.

Anonymous said...

I say "Stop Watching Bill Maher"
He's an entertainer and we all know how intelligent they are----right?

Anonymous said...

I am doing the same thing. Operate everything in cash with all my transactions. If we all united, we can save our country from these gangsters.

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