Wednesday, December 30, 2009

Move Your Money in 2010?

Arianna Huffington has a New Year's Resolution worth getting behind, here. In sum: given the excesses and the rip-offs forced on taxpayers by the bailed out big boys on Wall Street, why not help out community banks and move your money there.

I like this. It is, as Huff notices, 'populism at its best' but more importantly, it's a way for people to register their protest at the administration's craptacular policy of rewarding their corporate sponsors by giving them gobs of free taxpayer money. I'd also write to Senators Cantwell and McCain and express your support for reinstating the Glass-Steagall Act (which basically separates traditional banks from investment and retail banking, thus avoiding the 'too big to fail problem.') Either way, the 'move your money' thing is more realistic than the national mortgage strike idea that was floating around awhile back.

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