« previous   misc   next »

Occupiers Convince City Of Buffalo To Ditch JPMorgan Chase


By bgamall4   Follow   Sat, 2 Jun 2012, 11:22pm PDT   1,386 views   9 comments
Watch (1)   Share   Quote   Permalink   Like   Dislike  

http://www.opednews.com/Quicklink/Occupiers-Convince-City-Of-in-General_News-120601-396.html

Yeah!

Comments 1-9 of 9     Last »

New Renter   Sun, 3 Jun 2012, 12:18am PDT   Share   Quote   Permalink   Like   Dislike     Comment 1

I wonder how much of the decision was based on the urge to not do business with Chase vs. wanting a higher rate of return. I'd go further to hazard a guess that if Chase raised it's rate to better than 0.30% Buffalo would come running back. As would a lot of other people who say they hate banks but like returns on their savings.

bgamall4   Sun, 3 Jun 2012, 12:50am PDT   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

I doubt it. Everyone knows that the TBTF banks are in a risky place right now. If Germany takes down Europe by not allowing liquidity in the banking sector, the entire financial edifice could collapse. Not saying it will, but it could. That would leave banks not sensitive to derivatives being the only safe banks.

KILLERJANE   Sun, 3 Jun 2012, 6:31am PDT   Share   Quote   Permalink   Like   Dislike     Comment 3

Okay but what if all that gloom happens, the dollar is not a viable means of trade? If it is going down, will the dollar survive?

bgamall4   Sun, 3 Jun 2012, 10:59am PDT   Share   Quote   Permalink   Like (1)   Dislike     Comment 4

First of all, I think that the nations will bail out the banks, and probably implement austerity. That will eventually either cause the banks to lend or the real economy to break down. But the dollar will survive in a deflationary scenario.

thomas.wong1986   Sun, 3 Jun 2012, 11:47am PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 5

"Occupy who ?"

Vicente   Sun, 3 Jun 2012, 12:07pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 6

Interesting local effort by Occupy. Good to see them targetting achievable changes, instead of tent-squatting which did little.

thomas.wong1986   Sun, 3 Jun 2012, 12:18pm PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 7

Vicente says

Interesting local effort by Occupy. Good to see them targetting achievable changes, instead of tent-squatting which did little.

move a dinky $65M account to another bank ? yea real earth fucking shattering moment...

bgamall4   Sun, 3 Jun 2012, 1:54pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 8

thomas.wong1986 says

move a dinky $65M account to another bank ? yea real earth fucking shattering moment...

It is JPM man! That is a big deal.

futuresmc   Sun, 3 Jun 2012, 1:54pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 9

Another aspect of this is that Buffalo is right on the Canadian border. People here go back and forth over the Peace Bridge at will. As a result, we get a first hand comparison that much of the US doesn't get.

bgamall4 is moderator of this thread.

Email

Username

Watch comments by email

home   top   share   questions or suggestions? write p@patrick.net