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View Diary: Tired of Wall Street Banks' Crimes: About an Alternative Banking System? (52 comments)

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  •  "It can't be that hard" (4+ / 0-)

    yes, it can.  More than that, if you were even remotely successful, it would give the PTB a clear, easy target.  Shut down your bank, shut down your movement.

    I have an alternate idea.  Get the visionaries to researching and identifying the 3-5 best nationwide credit unions.  Get your people to move their money to those credit unions and then start a campaign to get your people  on the Boards of Directors at every local branch possible.  Take over the credit unions from the bottom up, one branch at a time.  That way, you have some diversification, your people learn the industry from existing experts, and the risk is significantly mitigated.  

    "None are more hopelessly enslaved than those who falsely believe they are free." - Goethe

    by jlynne on Thu Mar 14, 2013 at 11:52:32 PM PDT

    •  Honest question... (3+ / 0-)
      Recommended by:
      Words In Action, AoT, jlynne

      If your plan were to succeed, what would stop the PTB from shutting down those few CUs? Just make up some bogus charges, bury them in investigations, sequester there funds, etc.

      •  It just needs to be expanded (2+ / 0-)
        Recommended by:
        Odysseus, jlynne

        And done at the local level. At least one credit union in every locality should be of this type. Lending to worker owned worker run collectives. If there were one of those in my area I'd definitely bank there.

      •  sorry, I wasn't clear (1+ / 0-)
        Recommended by:

        I meant taking over the local branches literally.  Use the 3-5 best nationwide CUs as a starting point.  3-5 gives you more than one successful business model to study.  Infiltrating a national credit union chain allows your people in various states to learn both the policies that are common to all branches, while highlighting the differences in state regulatory requirements.  It's a comprehensive learning approach that will build better institutional expertise faster.  Then, once your people are majority members in the local branch and have control of the Board of Directors, you take it over and decouple from the original credit union, forming your own local.  

        You end up with thousands of discrete local credit unions staffed with people who can communicate and lobby on a national level, but whose banks are no longer playing in that arena.  And it costs nothing.  

        "None are more hopelessly enslaved than those who falsely believe they are free." - Goethe

        by jlynne on Fri Mar 15, 2013 at 12:31:30 PM PDT

        [ Parent ]

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