Was it $700 billion dollars that all those big banks needed to pull out with after they used our money to play with on Wall Street? I could be wrong on that figure - but I am pretty sure it wasn't less. Why did the government bail them out? Oh yeah - "too big to fail" - they had to survive so they could take care of us - right? They needed the banks to keep loaning money so our economy could keep growing and put people back to work.
Who has the money?
The largest 20 banks in the USA have 57% of bank assets averaging $380 billion
The mid size banks have around 11% - averaging $1-10 billion each
small banks - 11% $1 billion and under
Who does the lending?
The largest 20 banks - 28% of loans
Mid size banks - 20 % of loans
small banks - 34% of loans
So the small banks with the least amount of money are lending the most to help to grow our economy - while the big banks are probably playing on Wall Street again and making their investors happy - why did we bail them out again?
Why are we giving them our money? If we want a better local economy - doesn't it make more sense to put our money in a bank that believes in your community? After all the mistakes they have made in the past I would be afraid to leave my money in the hands of heartless corporate fat cats.
I say we invest in Main Street - Not Wall Street !!!!!
Here is your chance to make a difference without changing your lifestyle a bit - move your money to a local bank or credit union - keep your money local and help your community - prevent Too be to Fail again - if we all move our accounts - they become - Too Small To Matter - the next time they make a bad investment - let them go down - the way they should have to begin with.
If you love your community - take the time and move your accounts - a minor headache - should have been done a long time ago. Follow the money trail and start keeping your cash at home - I will continue to seek out the easiest ways to help solve the shop local buy USA issues - this is the easiest one. You will be doing your part everyday without even knowing it.
With all the talk from the Obama administration about jobs and the economy - you would think that things would have turned for the better by now - I guess it really is left up to us to get control. The key is to keep money at home.
More local and made in the USA = more jobs - we need banks that are on board to achieve this.
So Support your LOCAL bank!!!!!
Good Stuff. Let's keep the dialoges going. Sooner or later people are going to have to listen!
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