Americans Are Closing Bank Accounts

Dr. Michael LaitmanIn the News (from Xinhuanet): “Thousands of Americans pledged to switch their money from bank accounts to credit unions for Saturday’ s Bank Transfer Day, a protest against perceived corporate interests in the American banking system.

“Over 84,000 people signed up to join the protest on the event’s Facebook page, and across the United States participants gathered to celebrate their mass departure from the world of corporate banking.

“Many Americans have recently voiced frustration against the policies of the country’s large banks, who despite accepting bailout money from the American taxpayers continue to impose high transaction fees that some customers feel is just too much.

“The Credit Union National Association (CUNA) estimated that since Bank of America introduced their plans for debit card fees on September 29, over 650,000 Americans have joined credit unions, an alternative to banks.

“In today’ s environment largely critical of corporate interests that some say empower a few at the expense of many, [CUNA Communications Senior Vice President Mark] Wolff believes Americans will be attracted to credit unions specifically because they embody the democratic principles of equal ownership and representation.

“‘Credit unions are Main Street financial institutions,’ he said, contrasting them to Wall Street and the big banks. ‘In fact, you can’t really get more mainstream than a credit union, because credit unions are owned by the members that it serves and is a cooperative financial institution.’

“Although Bank Transfer Day is technically unaffiliated with the larger Occupy Wall Street movement, it voices many of the same sentiments against corporate greed and is supported by most of the Occupy groups around the country.

“Unlike the Occupy Wall Street protests that sometimes involve extensive time commitments and political activism, [Occupy Chicago organizer Sam] Abrahamson believes that Bank Transfer Day is something all Americans can easily participate in to voice their grievances.”

My Comment: We witness new forms of revolution. Increasing the awareness of the population regarding the current situation in the world will eventually lead us to the realization of the true cause of the crisis: It is in everyone, and it is namely we who have to change, to become corrected. For the time being, we observe egoism in others, but soon we will see that it is universal, and we will have to get rid of it.

Related Material:
New York: 700 Protesters Against Financial Terrorism Arrested
Demonstrations: A Way To Create A New Society
Protests Surge Around Globe

Discussion | Share Feedback | Ask a question Comments RSS Feed