One of the primal screams emanating from the Occupy Wall Street crowd since the early days was that big banks are the embodiment of evil. Demonstrations, blockades and even vandalism of financial institutions erupted spasmodically across the nation.
In a fitful attempt to create some semblance of a unifying message, Bank Transfer Day was born. Occupiers across the nation embraced the proposed plan for masses of people to transfer their assets from big banks to community banks and credit unions on November 5th. I actually applaud the method if not the reason for the attempt because corporations tend to listen more when customers vote with their feet. But, for it to be effective, institutions see that the fleeing customers have resolved to stay away until practices change.
This is where the Occupy movement fails again.
“A group of Oakland anti-Wall Street protesters who blame large banks for the economic downturn have decided that one of those institutions is the best place to stash their money for now.
Protesters at an Occupy Oakland meeting Monday voted to deposit a $20,000 donation into a Wells Fargo account… Protesters said it was the easiest way to access the money to bail out people from jail.” – OAKLAND (CBS/AP)
Take away from the equation the bad optics that this action creates. Leave aside their loudly proclaimed disdain for big banks in general and Wells Fargo in particular. What you have left is just the blatant hypocrisy of self-important demonstrators too lazy to go find one of their sainted community financial institutions. I guess no one wanted to take time away from drumming, dope smoking, and groping their female comrades to hop a bus to the burbs to find a credit union? Occupy Fail.
(Hat tip to Glen Reynolds, the Instapundit.)