With the latest information about how Goldman Sachs sold investments of mortgages to clients while simultaneously betting against the investments, I am bringing up the Move Your Money campaign. This won’t be the only story to emerge about unethical practices at the big banks. The government may talk tough, but they have done nothing, and won’t do anything, to reform Wall Street. In fact, Wall Street is more powerful now than before the meltdown.
It is up to us to punish the big banks. How do we do that? Move your money from these banks. I know it is a pain to do it. It is a few hours to set up a new account, change your auto payments, and transfer your money. However, you will save money over the long term as you won’t have to cough up tax dollars to bail out the banks at the next crisis – and there WILL BE another crisis, probably sooner, rather than later. Or, maybe you like to pay for the banker’s home in the Hamptons.
Please take a few minutes to visit the Move Your Money site where you can find a local, community bank or credit union that is financially sound in your neighborhood. Let’s put the burden of punishing the big banks on our shoulders, not the government’s cause the government won’t do it.