{"id":5766,"date":"2011-11-09T21:28:47","date_gmt":"2011-11-10T05:28:47","guid":{"rendered":"http:\/\/www.newscorpse.com\/ncWP\/?p=5766"},"modified":"2011-11-09T21:28:47","modified_gmt":"2011-11-10T05:28:47","slug":"americans-ditching-big-banks-by-the-tens-of-thousands","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=5766","title":{"rendered":"Americans Ditching Big Banks By The Tens Of Thousands"},"content":{"rendered":"

The Occupy Wall Street movement has had a profound effect on changing the topic of debate in this country. A couple of months ago the only subject the media would entertain was the national debt and federal spending. Today the conversation has veered to economic inequities and the abuse of corporate power.<\/p>\n

An ancillary to the Occupy agenda that arose a few weeks ago is the call for Americans to Move Your Money<\/a> from big, impersonal banks, to local community banks and credit unions. That initiative climaxed last Saturday as the day designated “Bank Transfer Day.”<\/em><\/p>\n

By any measure it was a resounding success<\/a>. The Credit Union National Association reports that $80 million was moved into their member institutions on Saturday alone. For comparison, the CUNA notes that on an average day in 2010, they opened 1,643 new accounts. On November 5th, they opened 40,000 new accounts. Could anyone have predicted this level of success?<\/p>\n

\"Move<\/center>
\n<\/p>\n

One person whose predictions were typically some distance from reality was Fox News’ Bill O’Reilly. Last Friday he engaged Geraldo Rivera<\/a> in a debate that ended with a brief discussion of the Bank Transfer Day.<\/p>\n

Rivera:<\/strong> “Tomorrow there’s a Bank Transfer Day. This is a concrete thing. They are saying ‘Take your money out of the Bank of America. Take your money out of J. P. Morgan Chase. Take your money out of these big banks and put them in small credit unions.’ What if that comes out to tens of millions of dollars in bank transfers?”<\/p>\n

O’Reilly:<\/strong> Let me just tell you something. Nobody’s gonna do that. Number one, those people don’t have any money and nobody’s gonna listen to them because they lost credibility.<\/p><\/blockquote>\n

Ya think O’Reilly will acknowledge his error now that he has been proven to be a lousy prognosticator? Do you think he will address the fact that 650,000 new accounts were opened in the month prior to Bank Transfer Day? That’s more than the total number of new accounts opened in all of last year. Do you think the big banks will stop pretending they don’t care about customers fleeing because they aren’t profitable customers? Yeah, me neither.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Occupy Wall Street movement has had a profound effect on changing the topic of debate in this country. A couple of months ago the only subject the media would entertain was the national debt and federal spending. Today the conversation has veered to economic inequities and the abuse of corporate power. An ancillary to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[219,1],"tags":[26,33,934],"class_list":["post-5766","post","type-post","status-publish","format-standard","hentry","category-economy","category-general","tag-bill-oreilly","tag-fox-news","tag-occupy-wall-street"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-1v0","jetpack-related-posts":[{"id":5652,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=5652","url_meta":{"origin":5766,"position":0},"title":"Glenn Beck, David Duke, And Occupy Wall Street","author":"Mark NC","date":"10\/25\/2011","format":false,"excerpt":"Glenn Beck spent a good chunk of his morning radio program today lambasting the Occupy Wall Street movement. It's a pastime that he has become obsessed with, and his obsession grows every day as OWS gets stronger and garners more support from the American people. Today's tirade centered on the\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5485,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=5485","url_meta":{"origin":5766,"position":1},"title":"Fox News Reporters Maced And Beaten While Covering #OccupyWallStreet","author":"Mark NC","date":"10\/6\/2011","format":false,"excerpt":"The Occupy Wall Street protests have endured for nearly a month despite little attention from the press. Yesterday there was an incident that, under ordinary circumstances, would attract some additional coverage. Reporters from the Fox affiliate in New York were covering the protests when they were embroiled in a chaotic\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5526,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=5526","url_meta":{"origin":5766,"position":2},"title":"Fox Nation Desperately Seeking An #OccupyWallStreet Bogeyman","author":"Mark NC","date":"10\/13\/2011","format":false,"excerpt":"With the ongoing success of the Occupy Movement, Fox News is exhibiting their desperation and fear. They know that the American people are waking up and recognizing the dishonesty and corruption of the conservative media, big corporations, and kept politicians. That's why they are resorting to tactics like this nonsense\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5818,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=5818","url_meta":{"origin":5766,"position":3},"title":"Banksters Plotting A Propaganda Offensive Against Occupy Wall Street","author":"Mark NC","date":"11\/19\/2011","format":false,"excerpt":"Chris Hayes has acquired a memo from a well-connected group of Washington lobbyists to the American Bankers Association. The memo proposes launching a comprehensive campaign against the Occupy Wall Street (OWS) movement with an $850,000 budget and an intent to \"undermine their credibility.\" Hayes begins his expose saying that... \"Speaker\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5661,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=5661","url_meta":{"origin":5766,"position":4},"title":"Fox News Raises ACORN From The Grave To Bash The #Occupy Movement","author":"Mark NC","date":"10\/28\/2011","format":false,"excerpt":"Another day, another Fox News attempt smear the Occupy Wall Street movement. This article also appears on Alternet.org.Fox News has been feverishly trying to dampen the viral growth of OWS ever since it sprouted in a park in Lower Manhattan about a month ago. Their overt hostility is in sharp\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=1"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6176,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=6176","url_meta":{"origin":5766,"position":5},"title":"Occupy Reality: Americans Concern About Income Inequality Surges","author":"Mark NC","date":"1\/12\/2012","format":false,"excerpt":"The Pew Research Center has conducted an inquiry into the degree of divisions within American society and found that conflicts between rich and poor now outpace other sources of group tension. 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