Bank Transfer Day – November 5th

Posted: November 4, 2011 by occupyrapidcity in Activism

(NOTE: Let’s make this event a major success for the movement. Represent the movement in solidarity this Saturday. Occupy Rapid City generally assembles around Noon at Main St. and 6th St. downtown. Begin occupying as early as possible. The march should begin shortly after Noon. Look for the march along St. Joseph St. between US Bank and Wells Fargo. If you have money in these banks you plan to move, note that US Bank closes at 12pm and Wells Fargo closes at 1pm.)

PRESS RELEASE

The momentum continues for Occupy Rapid City. The open group will again be seen demonstrating and spreading awareness this Saturday about what they’ve identified to be among the root causes of America’s economic woes. This weeks theme: Wall Street Banks.

In support of Bank Transfer Day this November 5th, Occupy Rapid City participants will march from their usual meeting place at Main Street Square to the big banks and back. Expected locations for turnout include the Wells Fargo and US Bank locations downtown. These banks are the fourth and fifth largest banks in the US by assets.

The protestors want others to remember how Wall Street banks caused the greatest economic crisis since the Great Depression that caused millions to lose their homes, jobs and livelihoods, and how these banks are again making record-breaking profits and bonuses thanks in part to their $700 billion dollar bailout with taxpayer money, while little has changed to prevent the types of abuses that led to this mess.

The group encourages the community to move their money to local financial institutions, which will in turn help the local community as that money is reinvested in local businesses, as opposed to putting money into the big Wall Street banks that will use deposits to make risky investments, gambling at the expense of the economy as a whole.

Community banks and credit unions also charge less on average in fees, and often pay higher interest on accounts than big banks. But one of the most important reasons the movement supports Bank Transfer Day is to send a message to the banks, letting them know that they will not support unethical practices that damage people’s lives and the economy as a whole.

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