move your money dance

mock turtle Sun, 1/10/2010 - 9:22 am


i did the "move your money" dance this past week

and got into a little pissin match with the jpm-chase branch manager

after i had my cashiers checks in hand for ira rollover, savings , checking, and a CD

i politely informed the bank employee behind the desk that i would gladly share the reasons behind my decision to close my accounts if she was interested

i had previously just said personal reasons as they pressed me for about 10 solid minutes not to close my account and telling me all the services i could obtain at jpm-chase

the employee said yes id like to know

i stated that this was the only way i could peacefully, lawfully and effectively register my objection to the bank bailouts

and

the continuing casino behavior by the countries 'too big to fail" mega banks

the employee claimed that jpm-chase didnt need government backing, had paid back the tarp money back

as i began pointing out that many major mega banks had been recipients of flow thru government money

that came by way of AIG,

and were able to trade to the federal reserve, toxic Mortgage backed securities in exchange for triple A US treasury securities

thus shifting trillions of risk and loss from the banks to the taxpayers

she claimed not to know anything about this...and then the branch manager stepped over and said point blank that i was not telling the truth

we went back and forth for about 5 minutes with the bank people politely calling me a liar

and me quoting what ive learned at calculated risk , naked capitalism, market ticker, big picture and other blog spots

as things started to get ugly

i ended the conversation by saying i did not hold anybody in this branch responsible for the destructive behavior of the mega banks and big financial trading houses, and i wished them, personally, well

but in leaving, i suggested that they be sure to tell the people in the central office why i left

here is the one page doc that explains it all and im going to place it on the branch managers desk monday morning

"Behind The Real Size of the Bailout | Mother Jones"

...

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