[GPSCC-chat] Are Banks Trustworthy?

[Spencer Graves]

Hello, All:  The Common Dreams article Gerry mentioned explains 
succinctly why we should move our money to credit unions or local-only 
banks and lobby for effective reregulation of the finance industry:


       1.   A U.S. Senate investigation revealed that the 2010 
Dodd-Frank banking reforms utterly failed in the case of the $6.2 
billion "London Whale" gambling loss at JPMorgan Chase.


       2.  A U.S. House committee recently passed seven measures to 
WEAKEN Dodd-Frank.


       3.  Banks in Cyprus are closed as the European Union and the 
government of Cyprus are reportedly trying to take money from Cypriot 
citizens while protecting foreign investors and Cypriot banks that lost 
gambling on Greek debt.


       4.  Unless Americans demand real regulation while moving our 
money to community banks and credit unions, we can bank on being bilked. 
Again.


       Spencer


On 3/25/2013 11:00 AM, Gerry Gras wrote:
>
> FYI,
>
> About the Cypriot Crisis, the 2008 US crisis, and
> bans in general.
>
> "Bank on Being Bilked"
> http://www.commondreams.org/view/2013/03/25-7
>
> Gerry
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> sosfbay-discuss mailing list
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>
>


-- 
Spencer Graves, PE, PhD
President and Chief Technology Officer
Structure Inspection and Monitoring, Inc.
751 Emerson Ct.
San José, CA 95126
ph:  408-655-4567
web:  www.structuremonitoring.com