A project of SwitchYourBank.org by SYB

2013-01-30 21:00:41 UTC

We've got to ask, as Matt Taibbi did about Mary Jo White: "Couldn't they have found someone who isn't a perfect symbol of the revolving-door culture?"

Read our whole post here

jswift8 — 2013-01-30 21:10:10 UTC

This is one reason why switching from the megabanks to a local lender is healthy for the overall economy. If politicians won't compartmentalize the industry, the next best thing is for the citizens to do it. Read more

jswift8 — 2013-01-30 21:10:53 UTC

jswift8 — 2013-01-30 21:11:02 UTC

A two-minute SwitchYourBank primer the megabanking crisis. For updates on this issue be sure to follow SYB on Twitter.

jswift8 — 2013-01-30 21:41:30 UTC

Local lenders scored far higher than the megabanks. Read more

jswift8 — 2013-01-30 21:42:54 UTC

(Chart from the Institute of Local Self-Reliance) Small financial institutions are more likely to offer totally free checking accounts. No loopholes or snags. Read more

jswift8 — 2013-01-30 21:43:23 UTC

We've got a separate set of justice for people who belong to multinational firms and people who don't. Read more

jswift8 — 2013-01-30 21:48:45 UTC

Another good reason to Switch your bank to a local lender

jswift8 — 2013-01-30 21:49:25 UTC

jswift8 — 2013-01-30 21:50:17 UTC

Local lenders help local economies. Read more.

jswift8 — 2013-01-30 21:51:46 UTC

jswift8 — 2013-01-30 21:52:18 UTC

Yet another good reason to Switch Your Bank.

jswift8 — 2013-01-30 21:53:06 UTC

Therefore, if you want to see justice in our financial system, one way you could do it is by boycotting the megabanks that continually get caught in scandals, but then walk away with relatively minor fees and no jail time. Read more or follow us on Twitter.

jswift8 — 2013-01-31 02:11:34 UTC

Derivatives in the 3 largest banks skyrocketed prior to the financial crisis (and were one key part of the crisis). What's worrisome is that the derivatives exposure in these 3 banks is nearly 25 times larger than it was in 1995, and represents about one-fourth of the total $700 trillion global derivatives exposure. Read more

jswift8 — 2013-01-31 02:17:43 UTC

The sheer level of worldwide operations in these megabanks is proof that they've grown too big to manage.

jswift8 — 2013-01-31 02:19:05 UTC

jswift8 — 2013-01-31 02:20:18 UTC

jswift8 — 2013-01-31 02:21:46 UTC

Nearly half of the worldwide derivatives exposure is centered in the United States, and 95% of the total U.S. derivatives exposure comes from 5 megabanks. Read more

jswift8 — 2013-01-31 02:22:43 UTC

jswift8 — 2013-01-31 02:27:54 UTC

In 2008, the megabanks received enormous bailouts and loans from the Fed partly because they were designated (in 2007) as "too big to fail." Read more and join our network on Facebook.

jswift8 — 2013-01-31 02:29:13 UTC

When a megabank becomes "too big to fail," it seems that their employees can commit crime without having to face prosecution. Read more

jswift8 — 2013-01-31 02:29:53 UTC

Look who's on the list: Eric Holder and Lanny Breuer, two former long-time employees at Covington—a law firm that specializes in defending Wall Street clients. Why should we expect that lawyers who spent their lives defending Wall Street clients in court would suddenly turn around and fight them boldly? We shouldn't.

Indeed, prosecutions for financial fraud are now at record lows, even while the scandals in the megabanks are widespread and immense.

So the megabanks are clearly "too big to jail"—and we have a system rife with injustice. Read more

jswift8 — 2013-01-31 02:31:31 UTC

JPMorgan Chase scores an F on BankingGrades.com, which divides the total amount of all small business loans by the total amount of deposits. So JPMorgan Chase doesn't have any room to boast at all when it comes to small business lending.

jswift8 — 2013-01-31 02:33:21 UTC

Our TBTF page highlights the many diverse pundits and experts who have declared that "too big to fail" is still a problem—even after the 2008 crisis. The page keeps growing as we find more and more people who agree with this simple premise.

jswift8 — 2013-01-31 02:34:10 UTC

Regulatory Capture: When private entities get so much power that they're able to capture the very government meant to regulate them. Read more

jswift8 — 2013-01-31 02:35:55 UTC

jswift8 — 2013-01-31 02:40:11 UTC

The Wall Street Journal has been running a total of Bank of America's constant fines since 2010. It's a wonder BofA customers stick with them. Read more

jswift8 — 2013-01-31 02:47:13 UTC

We've got a running collection of quotes on our TBTF page, including this one. To stay updated you can also follow us on Twitter.

jswift8 — 2013-01-31 02:48:54 UTC

We've shown elsewhere why TBTF is still a problem, but this graph clearly illustrates the recent disparity in banking. In other words, TBTF is getting worse, which means we still face big problems—including megabanks that don't face prosecution, megabanks with mega-lobbying power, and megabanks that will demand bailouts if they fail.

jswift8 — 2013-01-31 02:49:51 UTC

It's precisely because TBTF (and all it implies) has the potential to be an even larger problem in the future that we're fighting for people to switch to a local lender. You can help end "too big to fail" by switching. Read more

jswift8 — 2013-01-31 02:53:18 UTC

At SwitchYourBank.org, we aim to break up the concentration of banks by encouraging people to support local lenders. Read more

jswift8 — 2013-01-31 02:54:44 UTC

Opposition to dangerous TBTF practices is not a partisan issue. Read more or Click here to read about an ultra-conservative pundit agreeing with a very liberal congressman.

jswift8 — 2013-01-31 17:10:33 UTC

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jswift8 — 2013-02-05 19:30:38 UTC

jswift8 — 2013-02-05 21:11:20 UTC

jswift8 — 2013-02-05 21:12:14 UTC

See the full infographic

jswift8 — 2013-02-05 21:16:50 UTC

jswift8 — 2013-02-05 21:18:11 UTC