Move Your Money Campaign

* Move Your Money on ABC World News :

People all over the US are choosing to move their money out of bigger banks and into smaller, community-oriented financial institutions that generally avoided the reckless investments and schemes that helped cause the financial crisis.


Fueled by the personal initiatives of thousands, it’s a grassroots effort that has the potential to shift power in the financial system away from Wall Street and to Main Street.


The idea came just before Christmas. A few friends were having dinner wondering what personal actions they could take to help limit the power of the big banks and create a more sane, stable financial system. How, they wondered, could they help end the era of Too Big To Fail? The financier at the table recommended that everyone could move their money out of the Wall Street banks and into community banks. Community banks are typically more conservative about how they manage their money, they’re more closely connected to the people and businesses who live near them, and they’re more inclined to make loans they know will get paid back. In other words, they have the values that more people would want banks to have.


The filmmaker at the table reminded the others of the story told in the classic film It’s A Wonderful Life — a tale about a small banker, played by Jimmy Stewart, who almost gets crushed by a big banker. In the end, though, the community rallies around the small bank and helps save it.


Three days later, the filmmaker made a short video, displayed on this site. The editor wrote a commentary about the idea. And others started pulling various resources together.


Since that first dinner the idea has spread like wildfire. Thousands of people have pledged to move their money away from the casino-style Too Big To Fail banks and give their money to community banks and credit unions. The media has picked up on the campaign and bloggers have added their two cents — most of them praising the effort, some critical.



Source: Www.moveyourmoney.info