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New Mexico saying 'adios' to big banks



February 10, 2010 – Comments (2) | RELATED TICKERS: C , BAC , JPM

New Mexico's state legislature is moving quickly to move its money out of big financial institutions and turn it over tocredit unions and community banks.

The state's House of Representatives voted 65-0 this week for a bill that allows the state to move $2 billion - $5 billion of state funds.

The municipal funds bill still must be approved by New Mexico's Senate but passage appears likely.

GovernorBill Richardson says he supports the legislation and will sign the bill if it reaches his desk.

2 Comments – Post Your Own

#1) On February 10, 2010 at 5:02 PM, PSU69 (92.66) wrote:

I like it!  The big banks are a club of skimmers.

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#2) On February 10, 2010 at 7:31 PM, jesusfreakinco (28.17) wrote:

Maybe everyone else should do the same:


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