Church congregations transfers accounts from BofA to credit union.
Thanks +Tristan Johnson for sharing +Rob Michael's post.
Reshared post from +Rob Michael
I was speaking with one of my students re: #OccupyWallStreet yesterday and he shared this story with me:
The entire congregation at church decided they no longer wished to do business with BofA so they transfered their money out to our local credit union. We didn't carry signs, we didn't march, we didn't try to demonize the tellers or any other BofA employees. We simply took our money elsewhere.
In one day, they moved $3,000,000 from BofA.
This is one church (and not a terribly affluent one).
Imagine the very real impact that we can all have by taking similar, simple, common-sense measures.
…it's easy.
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Just some info I dug up, wanted to pass around.
2000 US Debt 5.6 Trillion
2000-2010 Lost Revenue from Tax Cuts 3.5 Trillion
2000-2010 Cost of Iraq War 3.5 Triilion
2000-2010 Medicare Drug Program .5 Trillion
2000-2010 2008 TARP as a result of 2000-2010 financial deregulation (repeal of Glass Steagall) 1.5 Trillion
2000-2010 Revenue reductions and unbudegted expenditures 9.0 Trillion
5.6 trillion plus 9.0 trillion = 14.6 Trillion
2011 debt ceiling 14.3 Trillion
Here is a break down of the debt U.S.A. owes.
It is funny how we owe social security and the U.S. Treasury the most.
Hong Kong: $121.9 billion (0.9 percent)
Caribbean banking centers: $148.3 billion(1 percent)
Taiwan: $153.4 billion (1.1 percent)
Brazil: $211.4 billion (1.5 percent)
Oil exporting countries: $229.8 billion (1.6 percent)
Mutual funds: $300.5 billion (2 percent)
Commercial banks: $301.8 billion (2.1 percent)
State, local and federal retirement funds: $320.9 billion (2.2 percent)
Money market mutual funds: $337.7 billion (2.4 percent)
United Kingdom: $346.5 billion (2.4 percent)
Private pension funds: $504.7 billion (3.5 percent)
State and local governments: $506.1 billion (3.5 percent)
Japan: $912.4 billion (6.4 percent)
U.S. households: $959.4 billion (6.6 percent)
China: $1.16 trillion (8 percent)
The U.S. Treasury: $1.63 trillion (11.3 percent)
Social Security trust fund: $2.67 trillion (19 percent)
+Jeff Lincoln Boulter Sorry it took so long to reply. You crashed my brain.
Lincoln Park in Portland, Me has a tent city presence. The movement is indeed growing.