Activists empty bank accounts to protest bailouts

[Judi Lynn]

Source: Associated Press

Activists empty bank accounts to protest bailouts
By Associated Press
Tuesday, December 7, 2010 - Added 5 minutes ago

PARIS — A small group of activists in Paris emptied their bank accounts Tuesday after a call by French soccer icon Eric Cantona to protest practices by leading banks and bailouts.

It did not appear to prompt the huge bank runs that some Internet-based anti-capitalist groups had hoped for, however, and bankers and some economists warned against heeding the call. Cantona has also come in for criticism.

Activists have seized on former Manchester United star Cantona’s call in October for depositors to empty their bank accounts. They suggest signing up with cooperative banks and rejecting major banks that were given bailouts and that are often blamed for the global financial crisis.

About a dozen people marched in costumes Tuesday in Paris and withdrew money from a branch of Societe Generale. They then opened accounts with a nearby branch of Credit Cooperatif bank, considered more ethically responsible because it pledges not to have any subsidiaries in tax havens.


Read more: http://www.bostonherald.com/news/international/europe/view/20101207activists_empty_bank_accounts_to_protest_bailouts/

[SpiralHawk]

1. Could BoA be next?

I stopped doing business there many years ago...but I'm thinking they are about to reap some karma...

[madmax]

3. Same here... hope then go down in flames. nt

[madmax]

2. Just discussed this

with my husband this a.m. I'd read this a few days ago. Not a brain trust on economics here but, it makes sense to me.

There would have to be an organzied effort and in this country we can't get our shit together over ANYTHING!

[MineralMan]

4. Yeah. I can see it now:

A dozen people in costume come into the bank in costume and each demands 100 Euros - everything in the account. A whole dozen "activists," eh? I'm sure the banks are quaking in their boots. For pete's sake - there are actions that accomplish something, and useless performance art nonsense.

[xchrom]

5. recommend

[FirstLight]

6. i actually wish I could do this

but i have a rent check that needs to clear and a phone payment... are we just slaves to our bills/life?

[apnu]

8. You could switch to a Credit Union

Which have been outside all of this. I'm on a CU and love it. And I have my rent checks (plus all my other bills) sent right out electronically. Its great, no BoA, no Citi... or anybody else.

[tcaudilllg]

7. I'll never do business with BoA

and I limit my business with the big ones.

Wells Fargo manages my college loans, but Obama made THAT choice for me. >:(

[bl968]

9. Emergency Lending Authority

In other news the Federal Reserve issues another 1.2 trillion in emergency loans (snark)

[zytime]

10. I empty my account about every two weeks

I'm willing to take requests for any pet causes people might like me to empty it in the name of:)