Jon's Soapbox
A Grass Roots Response to Big Banking Autocracy?
(Posted 3/30/2009) - We all watched helplessly as our economy circled the drain in 2008. The news has painted a picture of financial irresponsibility on the part of major banking, insurance, and investing institutions that leaves the average citizen breathless.
Now, after an infusion of over 400 billion tax payer dollars into the largest of these failing institutions, we are learning that top level decision makers (in congress and in the private sector) plan to continue without major changes to their personally profitable habits. This has lead to widespread distrust of government-oversite and of large financial institutions in the US.
Grass-roots reform implies that individual action can make a difference at the top. What can we as individuals do to affect the apparently greedy habits of financiers? Here is one key step -- move your money and credit card association from the 'big-bank' institution you now use to a local bank or credit union. Choose a local partner that has been vetted as fiscally sound.
The affect of moving funds to a local bank is two-fold: It sends a message to big banks that you no longer support their greedy policies. It also strengthens your local bank and your community in a time of financial stress.
Here are some links you can use to determine which local banks are sound and deserving of your dollars ...
Move Your Money Info , and Bank Ratings .
Finally, here's a motivational video to get your fired up to actually "Move Your Money!"