The Occupy Movement: Is It Unproductive or a Tool for Change ?

I decided to make my second posting primarily about the banking industry, which is a major contributing factor to our current economic status. The housing boom that began to happen at the turn on the century just after George W. Bush took office can be attributed to the Clinton Administration.

President Clinton had a dream that every American should be able to own a home.

"I want to target new (housing) markets, underserved populations, tear down the barriers to discrimination wherever they are found," Clinton said. "We have to do a better job of reaching the underserved; of eradicating discriminatory practices that prevent minorities from finding, financing or buying the home of their choice. We can widen the circle of homeownership beyond anything we have ever seen.”

Well did that dream come true. By 2005 the housing market was at an all time high and subprime mortgages were being handed out like candy to anyone who came trick or treating at the banker’s doorstep.

Then three years later the economy collapsed as people started defaulting on their loans and started looking for somewhere to point their finger; and they pointed it right at the banking industry.

One of the main goals of the is to bring awareness to the banking industry and all the “corruption” that surrounds it. Unfortunately, banging on the doors and yelling in front of your local Bank of America is not going to get much done. Many of these protestors do not realize that you do not have to keep your money in a bank; there are other alternatives.

Credit Unions are gaining strength as many are looking for alternatives to the giant banks on Wall Street. They are a “not-for-profit cooperative institution that usually operates on a local level to help community development.

In case you missed it, Nov. 5 was where people made the switch from big banking to Credit Unions.

Since Nov. 5 Local Laguna Niguel have seen an increase in people switching over their accounts.

“ We have seen a small increase and have added five to ten new members,” said Richard Rosales of Fedone Credit Union in Laguna Niguel. “ We have seen the largest increase in our current customers transferring over their checking accounts to us because of the large banks wanting to charge people for using their debit card.”

So if the “99%” really wants to hit the banking industry where it hurts they should stop screaming at their local tellers and move their money (if they have any) to a more appropriate place that suits their needs.

After all what is the banking industry without our money?

“ In this country, you gotta make the money first. Then when you get the money, you get the power,” Tony Montana aka Scarface.

My third part will deal with who the 1% really is. Many of you may be surpried.