Say "No, Thanks" to the Arrogant Monster Banks
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December 09, 2010 Columns » Hightower
Say 'no thanks' to the arrogant monster banks
by Jim Hightower
Do you love your megabank?
I'm talking about your local branch of CitiChaseWellsMorganofAmerica —
or some similar financial conglomeration. As you might have learned from
experience, they have thousands of bankers who specialize in finding
innovative, new ways to gouge consumers worldwide.
From ripoff fees to refusing to refinance home loans, the friendly
slogan of these giants is: "We don't care. We're to big to fail!"
Unfortunately, Washington is too cowed by Wall Street money to cut these
arrogant and avaricious giants down to size, but — guess what? — you and
I can do it.
We can make them smaller, one deposit at a time, by simply moving our
money out of their clutches. After all, it is our money!
You can join the thousands of Americans who are walking away from the
don't-give-a-damn financial fortresses and switching their accounts to
community banks, credit unions, socially-responsible investment firms,
and other banking entities eager to treat you like a valued customer.
A recent survey found that the biggest banking conglomerates — such as
JPMorgan Chase, Citigroup, and Bank of America — have sunk to their
lowest consumer satisfaction level in years. Sixty-six percent of
customers say they'd consider taking their money out of those grasping
Appealing alternatives exist all across America. At credit unions, for
example, late fees and overdraft fees average only half of what the big
chain banks charge, and credit unions offer loans with interest rates
that are 20-percent lower than those assessed by the giants.
Why put up with megabank megalomania? Here are two websites to help you
find a local bank that gives a damn about you and your community:
http://findacreditunion.com , and http://moveyourmoney.info/find-a-bank .
Jim Hightower is the best-selling author of Swim Against the Current:
Even a Dead Fish Can Go With the Flow, on sale now from Wiley
Publishing. For more information, visit jimhightower.com.
New book: _Weird Words: A Lovecraftian Lexicon_:
My collected fiction: _The Unspeakable and Others_
Lord Weÿrdgliffe & Necronomicon Page:
News & Views for Anarchists & Activists:
Skipper: Professor, will you tell these people who is
in charge on this island?
Professor: Why, no one.
Skipper: No one?
Thurston Howell III: No one? Good heavens, this is anarchy!
-- _Gilligan's Island_, episode #6, "President Gilligan"