Monday, May 4, 2009

A not-well-thought-out suggestion (go ahead: ridicule me!)

In a previous post I wondered what recourse We the people had against a usurping, abusive Executive.

I still don't know.
BUT... for a different example of abusive power, I DO have a suggestion.

I note that a lot of folks seem to be upset about the hubris exhibited by financial sector CEOs who are happy to take tax-payer $$$, but somewhat less-inclined to curb what to many of us seems a "heads I win, tails you lose" compensation system.

Here's a simple suggestion: If you've had it with BofA's & Citi's management taking YOUR tax-dollars but still raking in oodles of $$$ in executive compensation, and IF you have a savings or checking account with Citi or Bank of America, withdraw all your funds... TODAY! Get a cashier's check, and open an account with a local bank or credit union.
For you this has a couple of advantages:
1. It'll make you feel better. You've taken direct action against the offending bank to let 'em know that you're less-than-satisfied.

2. You'll be strengthening a LOCAL institution - your local bank or credit union - perhaps helping them remain solvent & lessening the chance that they'll be EATED by the feds.

3. If enough folks do it, who knows? - maybe it'll get the attention of the geniuses in charge.
I'm pretty sure this idea has some serious flaws... but I'll stick with it till someone enlightens me!

Update & full-disclosure: my cash is in a credit union.

1 comment:

  1. Fishing for a wingnut here Russ? There are no flaws!