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Occupiers Convince City Of Buffalo To Ditch JPMorgan Chase


By bgamall4   Follow   Sun, 3 Jun 2012, 6:22am   1,243 views   9 comments
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http://www.opednews.com/Quicklink/Occupiers-Convince-City-Of-in-General_News-120601-396.html

Yeah!

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  1. New Renter


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    1   7:18am Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike  

    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.

  2. bgamall4


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    2   7:50am Sun 3 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike  

    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.

  3. KILLERJANE


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    3   1:31pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike  

    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?

  4. bgamall4


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    4   5:59pm Sun 3 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike  

    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.

  5. thomas.wong1986


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    5   6:47pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)  

    "Occupy who ?"

  6. Vicente


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    6   7:07pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike  

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

  7. thomas.wong1986


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    7   7:18pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike (1)  

    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...

  8. bgamall4


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    8   8:54pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike  

    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.

  9. futuresmc


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    9   8:54pm Sun 3 Jun 2012   Share   Quote   Permalink   Like   Dislike  

    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.

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