Retaliate against too big to fail banks by moving your money
What can we do about the reckless and corrupt practices of big banks? Arianna Huffington and Rob Johnson suggest that you move your money:
The idea is simple: If enough people who have money in one of the big four banks move it into smaller, more local, more traditional community banks, then collectively we, the people, will have taken a big step toward re-rigging the financial system so it becomes again the productive, stable engine for growth it's meant to be. It's neither Left nor Right -- it's populism at its best. Consider it a withdrawal tax on the big banks for the negative service they provide by consistently ignoring the public interest. It's time for Americans to move their money out of these reckless behemoths. And you don't have to worry, there is zero risk: deposit insurance is just as good at small banks -- and unlike the big banks they don't provide the toxic dividend of derivatives trading in a heads-they-win, tails-we-lose fashion. Think of the message it will send to Wall Street -- and to the White House. That we have had enough of the high-flying, no-limits-casino banking culture that continues to dominate Wall Street and Capitol Hill.
The four too-big-to-fail banks are JP Morgan/Chase, Citi, Wells Fargo, and Bank of America. If you have money in these banks, consider moving it to a local bank, where it has more of a chance of helping local businesses. For a video explaining this simple plan further, and for the names of your local banks based on zip code, go here.