Saturday, December 24, 2011

A wonderful life - Replay from Dec. 2009

Arianna Huffington:
"At a recent dinner, a group of us began talking about the huge chasm between the record profits of Wall Street banks and America's struggling Main Street banks and started discussing what concrete steps individuals could take to help create a better financial system.

"Eventually, an idea took hold: why don't we take our money out of these big banks and put them into community banks? And what, we asked ourselves, would happen if lots of people around America decided to do the same thing?

"To help this idea go viral, filmmaker Eugene Jarecki has created a powerful, and inspiring video playing off the classic film It's a Wonderful Life in which community banker George Bailey is nearly destroyed by the rapacious and predatory banker Mr. Potter.

"Check it out, and see why we think you should make it your New Year's resolution to move your money. . . .
Click here to read more.

Canadians, substitute "Credit Unions" for the term "Main Street Banks."

A bank is a place where they lend you
an umbrella in fair weather and
ask for it back when it begins to rain.
(Robert Frost)

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  1. Even those who might still be reasonably comfortable are caught up in a system that requires investment for profit if only to stand still and maintain a cushion against penury, the same system that promotes an unconscionable level of poverty and then tugs at the heartstrings of those empathic enough not to be Potters to pony up to keep people from starving or freezing to death. As Notman Bethune stated:"Charity should be abolished; and be replaced by justice." So, yes, a credit union, but we need to be active in getting the credit unions to organize community investment, in convincing depositors to deploy their funds in projects that may protect the integrity of the investment, but which also serve a useful function in the community. My sense is the credit unions are becoming more like banks and will continue to do so if allowed by the membership. Meanwhile, best wishes for the season to you, NF, and to your family and friends. May your spirit travel far and your ideas be an inspiration to many.

  2. True, we in BC have a very large (by Credit Union standards) CU that acts much like a bank.

    At each CU's annual meeting, each member has only one vote and any member can speak and 'raise the rabble' if they so desire. If someone provokes a discussion about some policy that they want to promote, the board will notice. There always is a tendency to promote the status quo and the 'rabble' may have to repeat their idea a few times before action is taken.



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