there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. i'm not well informed about
this but it seems like a good idea to me. "starve the cancer within us".

http://www.huffingtonpost.com/ariann..._b_406022.html

b.w.

On Dec 30, 3:21*pm, "William Wixon" wrote:
there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. *i'm not well informed about
this but it seems like a good idea to me. *"starve the cancer within us".

http://www.huffingtonpost.com/ariann...our-money-a-ne...

b.w.

The real reason there is no money to loan is the Government is loaning
banks enormous sums at 0.25% or less, so they can buy Government
securities paying 4% or more. This is what is keeping the GNP moving
up a little bit each month.

The small banks continue to go under because of their real estate
backed loans. Here in Central Oregon, most unbuilt subdivisions are
now owned by banks. Most unbuilt industrial land and even newly built
industrial buildings are either owned by local banks or will be soon
when the loans come due in a few months.

The real problem, now, for the FDIC is finding a bank that is willing
or able to take over operation of another bank. Most have already
absorbed several other banks and can't have branches duplicated on the
same block.

If you want to move your money, move it to a Credit Union.

Paul

On Wed, 30 Dec 2009 17:21:52 -0600, "William Wixon"
wrote:

there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. i'm not well informed about
this but it seems like a good idea to me. "starve the cancer within us".

http://www.huffingtonpost.com/ariann..._b_406022.html

b.w.

=================
While a capital idea [pun intentional] the problem is that the
big banks can and do use the Federal "knee knockers" to "make you
an offer you cannot refuse." If you won't deposit your money
with them, they will come and take it anyhow.

see:
http://money.cnn.com/2009/12/30/news.../gmac_bailout/
GMAC receives 3rd round of bailout funds
http://www.businessweek.com/news/200...-update1-.html
http://online.wsj.com/article/SB1000...579461138.html

also see
http://online.wsj.com/article/SB1000...s_Most_Popular

and
http://www.businessweek.com/magazine...2024080832.htm

Unka George

(George McDuffee)

The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).

On Wed, 30 Dec 2009 18:06:31 -0600, F. George McDuffee
wrote:

there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. i'm not well informed about
this but it seems like a good idea to me. "starve the cancer within us".

http://www.huffingtonpost.com/ariann..._b_406022.html

b.w.

=================
While a capital idea [pun intentional] the problem is that the
big banks can and do use the Federal "knee knockers" to "make you
an offer you cannot refuse." If you won't deposit your money
with them, they will come and take it anyhow.
-----------------
Some follow up information on GMAC/Ally Bank [and ResCap/Diatech
Funding] The U.S. Taxpayer's are now majority owners as more
TARP funds are flushed down the toilet.

http://www.ft.com/cms/s/0/d32f296c-f...nclick_check=1
US Treasury takes majority stake in GMAC
By Tom Braithwaite in Washington

Published: December 30 2009 21:39 | Last updated: December 30
2009 23:52

The US Treasury will become the majority shareholder of GMAC, the
former lending arm of General Motors, as part of a restructuring
announced on Wednesday.

GMAC is to receive $3.8bn in new government investment via the
troubled asset relief programme, the Treasury said, in the final
stage of filling a capital hole identified in the “stress tests”
on banks earlier this year. The deal brings to a close a busy end
to the year for the Treasury’s $700bn Tarp scheme, with most
elements of the bail-out programme winding down and companies
such as Bank of America and Citigroup racing to repay the
government and escape restrictions on pay and hiring.
snip

=================
As I have observed before, very important U.S. financial
information continues to be first reported in the foreign media,
and sometimes only in the foreign media. [Financial Times is a UK
publication]


Unka George

(George McDuffee)

The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).

On Wed, 30 Dec 2009 17:21:52 -0600, "William Wixon"
wrote:

there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. i'm not well informed about
this but it seems like a good idea to me. "starve the cancer within us".

http://www.huffingtonpost.com/ariann..._b_406022.html

b.w.

================
For some info on how this was circumvented before it even started
see http://www.sacbee.com/business/story/2429569.html
NEW YORK – When financial titan Goldman Sachs joined some of its
Wall Street rivals in late 2005 in secretly packaging a new breed
of offshore securities, it gave prospective investors little hint
that many of the deals were so risky that investors could end up
losing hundreds of millions of dollars on them.

McClatchy has obtained previously undisclosed documents that
provide a closer look at the shadowy $1.3 trillion market since
2002 for complex offshore deals, which Chicago financial
consultant and frequent Goldman critic Janet Tavakoli said at
times met "every definition of a Ponzi scheme."
snip
---------------
Unka George

(George McDuffee)

The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).