300 Colorado Homeowners Close Their Accounts at Wells Fargo

Ok, this is the next Anon target video here

& here is some of the out come
link to full story


I feal this is a good thing if this happens all over the world we can make a big change, take there money & let them worry about there bills & see how far they will go . then we can see them for what they truely are! ....discuss



We are Anonymous.
We Are Legion.
We Do Not Forgive Corruption.
We Do Not Forget Treachery.
Expect Us.

This is really no big surprise....and I think in the United States...we are going to see more of this....Colorado is just the beginning.

reply to post by dedpope


Exposing the insolvency and fraud... Homeowners to the rescue!

I have been saying this for some time now take you money from the banks and not feed them any more....
as if you feed them they will rip you off

reply to post by caladonea


Yes we will & I say we all let freands & family know that they should all do the same, I do not think all of Anon's op's are good but what they are doing right now is a big move in the right diretion. so every little bit helps

For those wary of Credit Unions, or who don't have direct access in your community, Operations GreenOut and Bank Transfer Day are still a go for November 5th.







Expect Us.

Only problem is, the banks don't want your money anyway.

Bankers have an odd-sounding problem these days: they are awash in cash.

Lending levels have not bounced back from only a few years ago and the loans going out are not keeping pace with the deposits rushing in.

What’s more, the profitability of each new loan has shrunk. Because the Federal Reserve effectively sets the floor off which banks price their lending rates, its decision to lower interest rates to near zero means the banks earn less money on the deposits they lend out.

The banks are also earning less on the deposits left over to invest. They typically park that money overnight at the Fed for a pittance, or invest it in ultra-safe securities, like bonds backed by the government. But with interest rates so low, the yields on those investments have been crushed.

www.nytimes.com...

Sorry, but with unemployment so high, there are very few qualified borrowers; and the state of the economy doesn't leave much to invest in these days. New plan needed.

Originally posted by Maluhia
Only problem is, the banks don't want your money anyway.

Bankers have an odd-sounding problem these days: they are awash in cash.

Lending levels have not bounced back from only a few years ago and the loans going out are not keeping pace with the deposits rushing in.

What’s more, the profitability of each new loan has shrunk. Because the Federal Reserve effectively sets the floor off which banks price their lending rates, its decision to lower interest rates to near zero means the banks earn less money on the deposits they lend out.

The banks are also earning less on the deposits left over to invest. They typically park that money overnight at the Fed for a pittance, or invest it in ultra-safe securities, like bonds backed by the government. But with interest rates so low, the yields on those investments have been crushed.

www.nytimes.com...

You missed the point of that article.

They can't put the money on the street to bring in intrest.
No Loans= No intrest= blow to the income of the banks.

That's a whole different ballgame from funds going out the door via closed accounts.
Closed accounts=no income and no future income=Bankrupt banks....sortof.
BOA just tranferred a HUGE ammount of debt to the US taxpayer...when they fall we will be left with the bills..

If we all stand strong and stand our ground there is no stopping us United we stand one race the human race we
then be come one force..for the right of every man woman and child as it should be.

reply to post by FugitiveSoul


thanks for the BUP (back up post) this is a good move for eveyone & should be taken in a big stride, do it now to be ahead of the rush & remember we are all one entety , together we will win the "War on Terrorism"

THE PEAPLE WILL STAND AND FIGHT



Expect Us

reply to post by BadNinja68


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They can't put the money on the street to bring in intrest. No Loans= No intrest= blow to the income of the banks.

I'm pretty sure I didn't miss the point. I understand what you are saying, but what they are saying is right now they don't need more money that costs them money to maintain. Until the investment environment improves, holding the money actually costs them money and the rate of return is not in their favor. Read the whole article.

I'm not defending the banks, I'm just saying that the method of protest - taking your money out - is not going to have the impact you are looking for at this time. Eventually maybe.

reply to post by dedpope

If this were done widely, I think it would send a big message.

I hope a lot of people, like I did, will feel that they can do without having an account with a big bank. I switched out of Chase some months ago, after they started charging fees on accounts without a high minimum balance. I already had an account at a local Credit Union, and I feel comfortable with them.

You might think that such a move would not "hurt" the banks financially. But they depend on more than finances to operate the way they do. They also depend on image. And if people started finding other things to do with their money, that would shatter the image that banks serve "common people."

Most big banks are basically commercial banks, and they won't really hurt financially unless they begin to lose their corporate clients ( which I am sure include many local and state governments, and unions, as well as businesses). If we could somehow get union and government pension funds, for example, out of the big banks, that could have significant financial impact.

Most big banks are basically commercial banks, and they won't really hurt financially unless they begin to lose their corporate clients ( which I am sure include many local and state governments, and unions, as well as businesses). If we could somehow get union and government pension funds, for example, out of the big banks, that could have significant financial impact.

reply to post by l_e_cox



great idea if we could get that in local credit unions we would make a very big mark I will bring it up & we will make sure peaple know to do it TY very much for the post & idea

Originally posted by Maluhia
reply to post by BadNinja68

 

.

They can't put the money on the street to bring in intrest. No Loans= No intrest= blow to the income of the banks.

I'm pretty sure I didn't miss the point. I understand what you are saying, but what they are saying is right now they don't need more money that costs them money to maintain. Until the investment environment improves, holding the money actually costs them money and the rate of return is not in their favor. Read the whole article.

I'm not defending the banks, I'm just saying that the method of protest - taking your money out - is not going to have the impact you are looking for at this time. Eventually maybe.

edit on 26-10-2011 by Maluhia because: (no reason given)

Bank's saying they don't need peoples money is like a gas station saying they don't need fuel tankers to refill their gas tanks. How long is that mentality going to last you?

Say you have 2 wolves. Which one grows the biggest?
The one you feed.

Stop feeding the banks and corporations if you disagree with their business practices.

This is a great move.

Banks are sitting on a ton of money. They get 0% loans from the Fed, they pay near zero in interest for depositors, they charge all kinds of fees, and they don't provide low interest credit (or much credit at all) to the public. Banks are just sitting there getting bailout money for their executive bonuses.

A good bank run should shake things up nicely.