Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

Huffington says we should take our money to local community banks for the new year.....is that a good idea?

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  • 1 decade ago
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    It won't matter. The smaller banks, such as mine, will only incorporate itself with a larger mega-bank. A credit union structure might be an improvement since it's more or less regulated by its own members.

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  • 1 decade ago

    Really? What local bank is Miss Huffpoo going to take her millions upon millions to?

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  • 1 decade ago

    Credit unions are the best, but local community banks are a far sight better than the Wall Street swindlers.

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  • I already have.

    6 months ago i pulled out of my big bank for a smaller 3 branch local one, moved my two 401k's out of Wells Fargo and Putnam and into my privately controlled account.

    -Yes it is a good idea. If you don't feed the monster it won't grow

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  • Anonymous
    1 decade ago

    Yes, it is a great idea. Banks are actually short on capital - short of actual green dollars to loan out to businesses for buying stock, making payroll, etc. Short on capital to loan out to individuals to buy cars, furniture, etc.

    to brown950 -- there is a difference between "local banks" and banks like Wachovia, etc. Those multi-billion-dollar conglomerates will get money from the government whereas local banks most probably will not.

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  • 1 decade ago

    My local food bank can buy $4 of food with $1.

    Edit: WTF? I thought I read "food banks" there...

    I disagree. Try credit unions.

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  • 1 decade ago

    yes,when she starts doing it.she should also get a real job.

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  • 1 decade ago

    Banks are paying such pathetic interest rates many people would rather stuff their mattresses.

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  • 1 decade ago

    What money???

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  • 1 decade ago

    What does she think we are doing now? Mailing it to Switzerland?

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