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APJ4RealHoldings (33.42)

What should citizens do when its Banking System is terrorizing the Nation?

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May 22, 2010 – Comments (12) | RELATED TICKERS: BAC , JPM , GS

This is just a copied title from Alstry's blog here that failed to answer his own question.

The ANSWER:

SIMPLE. Citizens should MOVE THEIR DEPOSITS OUT OF THE BIG BANKS - essentially disconnect the bank's life support (you funding them)

there are plenty of credit unions, and local community banks that are more sound, decent rates, & are more likely to benefit your own community - and also in the long run stop the terrorizing as deposits have left the big banks.

 

12 Comments – Post Your Own

#1) On May 22, 2010 at 3:14 PM, APJ4RealHoldings (33.42) wrote:

Every day you have a deposit in either BofA, JP Morgan/Chase, Wells Fargo, Citi - you are making a conscious decision of supporting them & supporting what those in Washington DC have done the past decade.

The day you move this deposit out of the above banks, is the day when you enact change in the system...and in the world

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#2) On May 22, 2010 at 5:36 PM, dibble905 (< 20) wrote:

HAHAHAHAHAHA

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#3) On May 22, 2010 at 6:55 PM, Option1307 (29.91) wrote:

It's the thought that counts at least, I stopped using big banks years ago!

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#4) On May 22, 2010 at 7:53 PM, oldfashionedway (36.12) wrote:

Think globally...act locally ( bank, invest, etc. ).

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#5) On May 22, 2010 at 10:15 PM, biotechmgr (37.38) wrote:

Check my blog for a related note on Bank Safety. Check yours and get $$$ into the top rated banks in the country.

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#6) On May 22, 2010 at 10:16 PM, biotechmgr (37.38) wrote:

bt kudos on making a positive suggestion, I agree about withdrawing support for the big banks.

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#7) On May 22, 2010 at 10:50 PM, starbucks4ever (99.08) wrote:

Why would you want to have small banks? If you have to live with s..t in your house, will you rather have that s..t concentrated in a few big piles or in 10000 small fragments?  -:)

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#8) On May 22, 2010 at 11:06 PM, HarryCaraysGhost (99.74) wrote:

If your pissed at the banks.

huh? I always get worried when Alstry and I are on the same page :)

 

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#9) On May 23, 2010 at 4:03 AM, SnapDave (64.60) wrote:

I sincerely appreciate the sentiment. But do most people know the difference between a sound and unsound local bank? Will they give up the convenience of all those Citi ATM's on every corner? What is a bankrupt FDIC going to do when your small bank fails?

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#10) On May 23, 2010 at 7:57 AM, outoffocus (23.12) wrote:

Will they give up the convenience of all those Citi ATM's on every corner?

With Credit unions you dont need it.  I've been with a credit union for about 7 years and I've been able to get by just fine.  They reason big banks customers need atms on every corner is because if they dont use their banks atm they will get dinged with outrageous charges.  With my credit union I get 10 free withdrawals a month at outside atms and I've never gone over that amount.  Also my CU has a huge atm network where I can go to any WAWA or 7-eleven and withdraw for free. So what you mention as a perk isn't really all that great when compared to CU benefits. 

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#11) On May 23, 2010 at 11:45 AM, Teacherman1 (47.01) wrote:

Use Credit Unions - Buy Banks.

Have been a Credit Union member for over 15 years. 

JMO and worth exactly what I am charging for it. 

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#12) On May 23, 2010 at 4:43 PM, leohaas (33.95) wrote:

You'd also have to give up many or your credit cards (or shop around consciously), because a lot of them are issued by large banks...

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