It's Time to "Move Your Money" from the Potter Banks to the Bailey's

[johnnyplankton]

Remember the "It's a Wonderful Life" re-imagining
video "Move Your Money" from Eugene Jarecki? Henry
Of Fish and Cheese brings it back (We Should All Re-circulate
This):

http://www.fishandcheese.com/wordpress/2011/10/12/move-your-money-from-the-potters-of-the-world-to-the-george-baileys/

[midnight]

1. Great link. Wells Fargo will potentially pay between $1,000 and $20,000 in reparation to eligible b

On July 20, the Federal Reserve Board ordered Wells Fargo to pay $85 million for allegedly deceiving potential borrowers into costly subprime mortgages. This is the largest fine issued by the Fed in a consumer-obligation suit. The cease and desist order addresses claims that former Wells Fargo employees misrepresented information in order to qualify otherwise ineligible borrowers. The Fed also requires Wells Fargo to compensation affected borrowers and revamp their compliance and anti-fraud programs.

Wells Fargo will potentially pay between $1,000 and $20,000 in reparation to eligible borrowers. The number of borrowers deceived by Wells Fargo who may receive compensation is estimated to be between 3,700 to possibly more than 10,000. Each restitution plan must be authorized by the Federal Reserve.

Additionally, the Fed has issued consent orders, barring 16 former employees from ever being employed in the banking industry again.http://moveyourmoneyproject.org/blog/2011/07/25/fed-orders-wells-fargo-pay-85-million

[txlibdem]

2. There it is: it's VERY profitable to defraud people and crash the economy

They made more than 100 times that doing their crimes so that "punishment" is nothing, you couldn't even call it a slap on the wrist. But they'll still pay $100 million for high class lawyers to make sure that few if any of those claims are ever paid.

The rich getting richer right before your eyes. This is the "hard working" people the GOP are always talking about.

[Demeter]

3. I have started the process this month, actually

The old bank is a subsidiary of a regional bankholding corporation...the new one is a local credit union. I'm pulling all the IRA money out of TBTF places, too.