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Forum Post: The call to end too big to fail is growing ENORMOUS. Who will join me in organizing to end it?

Posted 1 year ago on Feb. 14, 2013, 8:32 p.m. EST by toobighasfailed (117)
This content is user submitted and not an official statement

I've been trying to build a network of people interested in boycotting Wall Street banks and calling to break them up. It's been time-consuming, but it'll be worth it if it happens, since breaking up the banks "should be the Holy Grail of activist goals," as Matt Taibbi says.

The thing is, this goal is totally achievable. There's a huge group of experts coming around to the idea that TBTF needs to end (see this growing list: http://www.switchyourbank.org/tbtf). It'll just take a bigger public outcry, and it could happen. If more Occupiers set their minds to achieve this Holy Grail of activist goals, we'd be a force to be reckoned with, one that's on the mainstream map again.

I'd like to know who's interested in joining this network and what ideas you have for how we could succeed.

24 Comments

24 Comments


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[-] 1 points by toobighasfailed (117) 1 year ago

This thread has been good so far, but I'm still unsure about which organization/people is interested in achieving the Holy Grail of activist goals. It's something we could achieve, with focus. Who is interested?

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

If we don't do business with the big banks

they will not have power over us

[-] 1 points by toobighasfailed (117) 1 year ago

I totally agree. What current networks are best for promoting this idea? It seems like MoveYourMoney has died down, unfortunately. It's essential that this movement stay alive because currently more customers are switching to Bank of America than from Bank of America.

See graph: http://www.americanbanker.com/issues/178_18/secrets-of-mobile-success-cost-cutting-banks-seek-smartphone-customers-1056186-1.html?pg=2

Without dedicated and organized activists, the megabanks will win.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

the government switched unemployment payments to B of A

[-] 1 points by Kavatz (464) from Edmonton, AB 1 year ago

Unfortunately I'm not currently living in the US and don't bank there. Any plans to go international with the Bank Locator?

[-] 2 points by toobighasfailed (117) 1 year ago

Going international would be fantastic. I'm just not sure yet where to start on that front, though. If such a locator exists, I would love to promote it.

[-] 1 points by Kavatz (464) from Edmonton, AB 1 year ago

Maybe that can be your Subsidiary! The BankLocator? Think about it!

[-] 1 points by Kavatz (464) from Edmonton, AB 1 year ago

Regarding my last reply, this is one of my recent replies which should help understand the 99% Conglomerate:

"It will be very easy to get the wrong impression about what's going on here and intentions. I often have to repeat responses to like-minded pessimists, so I linked the Topic Refetences post to common thoughts (mostly for my benefit).

Feel free to ask questions or criticize anything.

I'm not sure what you mean by "sell to a conglomerate".

There are no plans for commune-type structure or profit sharing. If a financial institution does develop, it will be much further down the road. There are currently no plans to go there yet, though I wouldn't wish to avoid it if the conglomerate's subsidiary owners choose that path."

[-] 2 points by toobighasfailed (117) 1 year ago

The links you're sharing are really interesting, and I like the basic concept a lot, though I'm still unsure what the exact implications of the movement are. I'll keep my eye on it to see what develops. Thanks for the link!

[-] 2 points by Kavatz (464) from Edmonton, AB 1 year ago

I'd like to convince you to help jump-start the Conglomerate.

Do you have a small business, hobby, or do anything that could be considered a service? Do you make anything that could potentially be sold?

All you need to do is follow the link, fill out a few easy fields, and that's it. Set it and forget it. Your email address is not made public.

Can I help in any way? It won't be much effort at all but will do a world of good.

[-] 2 points by toobighasfailed (117) 1 year ago

I signed up for it. Eventually SwitchYourBank.org plans to network small lenders and provide a service for them as a way to cut the Wall Street banks off at the knees. We're in beta mode now, just feeling out the direction to take, but it'll be good to part of the Conglomerate in case things take off. Thanks!

[-] 1 points by Kavatz (464) from Edmonton, AB 1 year ago

Awesome!! Did you find it easy to do?

[-] 1 points by toobighasfailed (117) 1 year ago

Yes, very simple. If I had some advice it would be to give more explanation about the purpose of the Conglomerate. Is it to build a network of likeminded people? That's a good goal, if so. We need a better network because the network in the megabanks/government is so massive.

[-] 2 points by Kavatz (464) from Edmonton, AB 1 year ago

Understood, and will keep it in mind while working on the site. TYVM. Keep ideas flowing.

[-] 1 points by Kavatz (464) from Edmonton, AB 1 year ago

Follow this post.

http://occupywallst.org/forum/the-99-conglomerate-has-acquired-two-future-subsid/

Joining forces with the 99% Conglomerate could be your next best maneuver.

What you seek will not happen right away by joining, but with your particular strain of motivation, I'm sure you could be very influential (is impactful a word?) in the relatively-near future.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

how does one break up banks ?

[-] 1 points by toobighasfailed (117) 1 year ago

5 options listed in the first paragraph: http://www.switchyourbank.org/tbtf

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

these assume we still need a banking system

[-] 3 points by toobighasfailed (117) 1 year ago

What modern country has existed without one? Or what would a country without a banking system look like? A bunch of co-ops? I'd have no problem with a bunch of co-ops, but eliminating all banking completely is shortsighted. Even Wall Street firms have some utility. They've just increasingly lost sight of providing that utility.

[-] 1 points by DebtNEUTRALITYpetition (581) 1 year ago

I think you have been slightly deceived and that deception causes you to lose points with the public at large.

The banks are too big to shrink. But by using the slogan..."Too big to fail", it scares people into being against your idea because it sounds like you are proposing that people with savings in those banks could lose them.

Unending growth is the elixer of the ultra wealthy. Yes, they don't mind if you have a modicum of comfort, as long as their wealth is always growing.

That is plain and simple, a ponzie scheme.

[-] 1 points by toobighasfailed (117) 1 year ago

"Too big to fail" doesn't imply that people with savings in Wall Street firms will lose their money. TBTF is saying that these banks will be bailed out again. That is, they're so big Congress and the Fed will not let them go bankrupt for fear of destroying the entire economy.

And the megabanks are not too big to shrink. We did it in 1933 with the Glass-Steagall Act, and we can do it again. It wouldn't be terribly difficult—far less difficult than another global financial crisis.

[-] 1 points by DebtNEUTRALITYpetition (581) 1 year ago

But what does the average person think when they hear "Too big to fail"? It probably gives them a sense of security, no?

[-] 1 points by toobighasfailed (117) 1 year ago

I think the average person who is aware of TBTF is aware that it means guaranteed bailouts. And like MattLHolck says below: "a sense of no control."

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

a sense of no control