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Forum Post: What if we had our own bank

Posted 2 years ago on April 15, 2012, 5:27 p.m. EST by TheDoctor (6)
This content is user submitted and not an official statement

Could it be possible that occupy creates its own bank one that would be for the 99% and not the 1%?



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[-] 2 points by Demian (497) from San Francisco, CA 2 years ago

I dont think a bank is the answer. Banks are for profit. What I think would be good is an industrial credit union that lends to worker owned cooperatives.

[-] 1 points by TheDoctor (6) 2 years ago

Ok well the thought is that instead of the 99% using something that benefits only the 1% what if we had something that would be serve our purpose. It doesn't need to be a bank but just something that occupiers can trust will be for them and not the movement of someone wanting control or profit over them.

[-] 1 points by Listof40 (233) 2 years ago

This is a good idea...contributing to a bank that specifically uses interest or funding to assist with Occupy goals, objectives, and startups is a good start...

Whether or not we 'like' the idea of banking and capitalism, the reality is that the capital machinery directly determines how easy it is to undertake enterprises that could be constructive or alternatives to the common 'profit-over-people' business mindsets...and so can directly affect progress and moving forward in alternative ways.

But expanding even more, creating a business certification (ex Fair Trade) but more extensive, that requires a certain amount of profit to be put back into activism, and alternative funding for projects...would be good as occupiers can put their dollars into healthy alternative lending instead of giving money to corporations that are often the problem itself... (ie bank of America, wells Fargo, etc)

A credit union does not have a particular political leaning and so would not necessarily have any specific intent to assist with specific activism or occupy interests or goals... and so would not be specifically be aligned with occupy objectives or provide any specific programs to assist occupy or their interests, per se... so in that sense I like the idea of a alternative bank...

[-] 1 points by Demian (497) from San Francisco, CA 2 years ago

Check out credit unions. I'm all for establishing more of them.

[-] 0 points by calliope (25) 2 years ago

Banks sell dreams. Do you have any dreams you'd like to sell?

Work makes people more virtuous.

[-] 1 points by rayl (1007) 2 years ago

ows is all about dreams, dear.