One of the many changes we are facing in our country currently is a change in our banking system.
While many people feel that banks are a fairly unimportant part of our lives, on a national level banks are key.
But many people are now feeling as though the banks cannot be trusted. Between the bailout, fragile economy, and some interesting business practices, many of the American people are feeling nervous about using large banks.
Obviously BoA is getting the brunt of this. Many people are switching over to using local banks, which is both a blessing and a curse.
The blessing is that the move supports local business, giving more people jobs in their communities and providing for a more stable community.
The curse is aimed at the national economy. By hurting the big national banks, we no longer have such a strong national banking program. The government can not go around and take micro-loans from local banks if the national banks tank.
Although I am a supporter of the 99% movement, I feel the move to go to smaller banks is a mistake. We have to stay strong as a nation and support the national economy. I know that local economies are important and part of the backbone of the country. But at the same time, we have to keep our government running.