Lords of Corruption (Banks)

One thing I do care about, or rather am very concerned about, are banks. When I moved to Idaho in 1982, I joined Capital Educators, a credit union for educators obviously. I’m not sure I joined by design, although I knew that credit unions did NOT charge an exorbitant amount for overdrawn checks, nor did I have to keep a significant balance. After reading about the atrocities of the major banks in the last few years, I’m very glad I have not supported them these 30 years.

I assume everyone in the 99% is very aware of the atrocious amounts paid to bank executives (which keeps the money in the hands of the 1% and out of the hands of the middle and lower classes). Not only that, but , even though the government gave huge bailouts to banks, the banks still pay their executives unfathomable figures. Carelessly, banks sold mortgages to someone up in the clouds where home owners could not find who owned their mortgages. It would seem the wealthy are intent to wipe out the middle class and enslave the lower classes even further than they are.

If you bank at Citibank, known to some as the Lords of Corruption, you need to know that the corporation has worked very hard to change the governing rules for banks such as deregulating themselves. Does that matter? Google and find out. They also control Visa and Master Card. That’s so huge it makes me shudder to think of the control they can wield.

Wells Fargo marketed risky securities before the recent crash, telling people the securities were highly secure. They also concealed investment performances to prevent exits. They violated fair lending laws by encouraging loan discrimination by directing Blacks to subprime loans. They have taken advantage of borrowers and refused to correct the errors. A complaint filed with the U.S. Dept. of Housing and Urban Dev. exposed WF for their discriminatory handling of Blacks and Latinos in the housing market.

Bank of America has had its share of scandal in the news in the last few years. Chase Manhattan merged with JP Morgan and has the largest assets today. Too big, too big. They bought their own insurance company and so double dip by controlling the mortgage and the insurance on the mortgage. Look up Huffington Post.com—bank corruptions.

You can find much, much more of their corruption on the internet. Most people have given up fighting these monsters. But, I ask you, do you care enough to take some action against the 1%? The following are some ways we can do something to return money to the middle and lower classes. 

• Join a local credit union or at least a local bank. Bring money back home where it can do some good for the 99%.

• Write your legislators and express concern about banks controlling government.

• Look for alternatives to Visa and Master Card.

• Research banks and their activities and be informed.

• Speak out to relatives, friends, acquaintances, newspapers, etc.

• Start a campaign to write to bank executives complaining about the huge CEO salaries.

• You fill in the blank____________________________________________.

I feel so strongly that we all need to get involved in changing our world. One of the easiest and  best ways we can do that is to vote with our money every day. Please care enough to take one small step.