New Old Stuff In the Banks

Guess what. Nothing changed.

The banksters screwed us again, and Congress loaded up the “cliff” deal with so much pork it’s disgusting. Once again the banksters win, we lose. We also just learned how badly we got screwed by the Big Bailout. And we learned how badly we got screwed by the mortgage deal.

What’s a body to do? Get out of their clutches.

The banksters screwed us again.

Move Your Money is still a good idea, but even that’s not perfect. During the Occupy months, lots of people in my neighborhood moved their bank accounts to the small bank around the corner. Next thing they knew, a bigger bank bought it. Still not a Big Bank, but not what they signed up for either.

I personally moved my money to my credit union. It’s a bit less convenient because there is no nearby branch, but that’s rarely a problem.

My credit union is representative of the way to go to stay out of the clutches of the banksters who have far too much money and power, and continually arrange things through their congressional pets to suit themselves. The banksters essentially buy or bribe their favorite politicians, the ones who can be relied on to subvert our interests in favor of theirs. Banksters give them big bucks for their re-election. The politicians then arrange things so that billions upon billions feed freely into the investment accounts of the banksters. Bankster money now accounts for 20% of our gross domestic product, yet it has no tangible product. It’s disgusting and repulsive, and one of the main reasons you and I give Congress approval ratings that routinely flirt with single digits.

Move Your Money is still a good idea.

But why go to a Big Bank at all, since you will certainly be screwed by them? You can get a mortgage through your credit union at a rate that is not significantly different from theirs. You can get a car loan, or a home equity loan (better thought of as a second mortgage, a loan on top of a loan, and not advised). And you can get all the usual banking services like varieties of checking and savings, with automatic deposits and so forth as you wish. My CU also has free workshops where you can learn all kinds of things about finance and credit.

Is it harder to get approval for a mortgage loan with your credit union? Remember, it wasn’t hard at all to get one from the banksters—until 2007. But that was before you lost your house to foreclosure. So probably you shouldn’t have been approved in the first place, until you had saved up a larger down payment, you think? Maybe the credit union is on to something.

What’s a body to do?

That’s what you do, you subvert the banksters, who view you only as potential income for themselves. Get out of their clutches by not using their benign services, going instead to a credit union, or at least a small bank.

That’s what you do, you subvert the banksters.

And the other thing, if you can possibly arrange it, is to become a worker-owner, so that the profit from your good work is given to you yourself and your fellow worker-owners, and not to somebody in Tampa who owns two big boats and three seven-bedroom homes.

Get out of their clutches.

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One CommentLeave a comment

  1. I think there is a lot to be said for credit unions and other people power organisations even if they are somewhat less convenient

    Like


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