i made this decision five years ago, and my conscience rests easy knowing the tiny bit of money i've managed to roll around in my accounts hasn't gone to those bankrupt businesses that we somehow call banks.
listen--why would you trust your hard earned money on a business that makes absolutely no return to you? banks invest on wall st. wall st's only purpose is to make lots of money out of as little as possible--even out of nothing. these little wall st pawns are designed to return profits for their shareholders at all costs. and making lots out of as little as possible creates an incredibly inflated economy. based on little--or sometimes even nothing. at all costs means turning illogical, illegal methods lucrative, legal and opaque. money is power in this country. and the powers have dictated that this highly risky business is okay. these banks have been operating in a 'free market' (remember that word from high school economics) unregulated for decades.
and don't be fooled by the federal reserve bank. it is nothing more than a consortium of private banks. nothing federal in that. when the secretary of treasury and the chairman the fed get together and come up with a bail-out package, just know it is nothing more than the top american economic lawmaker and the strongest american businessman trying to finagle a way to have the businesses fall with as little loss as possible, with the least risk to their executives as possible, with the absolute most opacity within their powers.
at all costs.
we the people are nothing more than pawns in this game and have been for a very long time.
oh yah... and in conclusion, that is why i use credit unions and not banks.
;)
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