Occupy Chicago Plans Citywide Day of Engagement to Celebrate Bank Transfer Day

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Saturday, November 5 – International Bank Transfer Day
 
8am-1pm
Jackson and LaSalle
Pro-Credit Union Flyering
 
2pm-5:30pm
Grant Park, Michigan and Congress
Keep Your Children Occupied!
From the International Bedlam Society and Occupy Chicago
www.myfacesterfriendbookspace.com
 
3pm-6pm
Jackson & LaSalle
Teach-In: Public Housing and the Plan for Transformation
Speaker: Prof. Mary Platillo (Northwestern)
 
4:30pm-6pm
Grant Park, Congress and Michigan
Teach-In: TIFs 101 - Chicago's Budget for the 1%
Speaker: Ben Joravsky (Chicago Reader)
 
7pm

March from Jackson & LaSalle

to Grant Park, Michigan and Congress

Occupy Chicago General Assembly
 

Occupy Chicago Plans Citywide Day of Engagement to Celebrate Bank Transfer Day
 
CHICAGO 11/3/11 – This weekend, Occupy Chicago will offer a variety of participatory events, inviting the whole family to get involved in the Occupy Together movement. Saturday, November 5th is International Bank Transfer Day, when individuals are encouraged withdraw as much as they can from their corporate banks and open accounts at local, not-for-profit, customer-owned credit unions.
 
“The banks are the 1%. We are sending a clear message that we intend to regain control over our money by putting it in customer-owned credit unions,” says Natalie Wahlberg, a former University instructor.  “Bank of America backed down on new fees for debit card users because we stood together as a movement. It’s time for people of conscience to put their money where their mouth is, and stop supporting corporate criminals and the banking elite. ”
 
From 8am-1pm, Occupy Chicago invites groups and individuals to stop by Jackson & LaSalle to pick up flyers explaining why the move from banks to credit unions is so important. They will be encouraged to share this information with customers at specific corporate bank branches.
 
From 2pm-5:30pm, in Grant Park at Michigan and Congress, the International Bedlam Society and Occupy Chicago present Keep Your Children Occupied!, a family fair featuring face painting, coloring, bubbles, hula hoops, live music, and sing-along’s. On their website, the Society says they are hosting the event, “Because our children are the 99%. Because one in five American families is food insecure. Because children are only 25% of the country’s population, but 40% of the population living in poverty. Because our schools are broke and our prisons are full. We want a better world for them. And we’re going to celebrate and sing while we do it.”
 
There will likewise be two teach-ins on Saturday. The first, from 3pm-6pm at Jackson and LaSalle, is on Public Housing and the Plan for Transformation with Professor Mary Platillo of Northwestern University. The second, from 4:30pm-6pm in Grant Park at Congress and Michigan, is titled TIFs 101 - Chicago's Budget for the 1%, with Ben Joravsky, who writes for the Chicago Reader. For more detailed information, please visit:  occupychi.org/educational-events
 
In Naperville at 10am, Occupiers are meeting at PCN bank, at 9 E Ogden, and will march to the Riverwalk Amphitheater for a General Assembly. At 4pm, Occupy Rogers Park is gathering at the Glenwood, at 6962 N Glenwood. They will board the Red Line train at 5pm and head to Jackson & LaSalle.
 
Since Sept. 23, Occupy Chicago has been utilizing the sidewalks of the financial district to raise awareness of the corruption and complicity in the banking industry and government.
 
For more information, see www.OccupyChi.org and @OccupyChicago on Twitter.
 
For more information on the worldwide protest, which has spread to hundreds of communities, see occupyinfo.tumblr.com

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Other Saturday Events and Beyond....

Events coming on the near north side: Saturday Nov 5. An Occupy gathering at the Glenwood in Rogers Park at 4 pm, with a ride around 5 pm on the CTA to HQ and the Horse. Wow, an OC escort to the march and GA. Who wants to miss that! Join this event and all of your questions of the who what and where (and maybe even the why) will be answered.

Monday Nov 7. A gathering at the Heartland Cafe of Occupiers. Also in Rogers Park. Everyone encouraged, as usual, to come. From 7 - 10 pm. INSIDE!!!! How cool is that. A chance to really relax and talk and maybe even play some music together. Both of these events are near the Morse CTA stop on the Red Line.

Good Target: Super bank for super rich opens branch in Chicago

Super bank for super rich opens branch in Chicago

By JENNIFER BJORHUS November 5, 2011 1:06AM Sun-Times

Wells Fargo’s folksy wooden stagecoach is about to go after the carriage trade, as the bank launches a newly reorganized wealth management business aimed at families with $50 million or more to invest.

The new unit, with an office in Chicago, made its debut last week under the name Abbot Downing, after the early 19th century builder of upscale custom stagecoaches. It features a full range of services to cater to the super rich, complete with psychologists and staff to build family genealogies.

Abbot Downing will have $28 billion in assets under management and offices in major cities. The company targets the estimated 10,000 U.S. households with $50 million or more to investwith a particular focus on baby boomers with family businesses to sell.

Banks have been chasing rich people for centuries, of course. But as they struggle to increase profits in the current wobbly economy, bankers are finding the ultra-rich more alluring than ever.

Also driving the trend are the tide of aging baby boomers, various acquisitions banks have made and the costs of regulatory compliance, said Steven Crosby, a senior managing director for PricewaterhouseCoopers.

“Clearly it’s a profitable area, and good businesses are always looking to leverage profitable segments,” Crosby said.

Wells Fargo rival U.S. Bancorp announced last spring that it was creating a new boutique unit focused exclusively on investors with assets of $25 million or more. Its new Ascent Private Capital Management unit is set to open in December in Minneapolis.

Jim Steiner, who will lead Abbott Downing, said he’s particularly interested in the rise in mergers-and-acquisitions deals as aging baby boomers face selling the family business and then handling thorny issues related to passing on the money.

“I think over the next five to 10 years, there’s going to be more and more of those kinds of liquidity transactions,” Steiner said.

The business will have a “very boutiquey” feel, he said. In addition to such traditional services as estate planning, it will offer a slew of more personal services, such as help with family dynamics, leadership transition and building family genealogies.

Unchanged will be Wells Fargo Private Bank, another part of Wells Fargo focusing on people with $1 million to $50 million to invest.

Transferring money out of BIG banks to credit unions

I think one of the best things the Occupy Movment can do is encourage everybody to stop doing business with the BIG banks.  People question whether this movement has any concrete ideas for action and this is about as concrete as you can get.

The credit unions are a great idea.  But, there are still small local banks that have only a few branches that are worth investigating.  I've done business with both and I will never do business with Chase Bank, BOA, US bank, and their siblings.  A small, family owned-bank knows better than to put their depositors' money into insane exotic investment schemes - they aren't goiing to get bailed out by the Feds.  Stuff like that is a Wall Street, not a Main Street phenomenon.  But definitely get your money out of the BIG banks. And I highly doubt that the bank officers in small banks are paying themselves hundreds of millions of dollars while screwing things up and laying off their employees.  Let's get this country back to small businesses, as well as Co-ops, rather than huge, souless, impersonal, amoral corporations with officers who are robbing the company and customers blind.

And, this is something that many people out there, who might not agree with the Occupy movement, can go along with.    And, we don't have to go to the politicians and beg them to do something about the BIG banks.

If the idea hasn't been thought of already, there ought to be a new chant and slogan: BOY-COTT BIG BANKS!  Put it on bumper stickers!