Move Your Money: Campaign Grows to Divest from "Too Big to Fail" Banks to Local Banks, Credit Unions
As participants in the Occupy Wall Street movement continue protesting the record profits made by banks bailed out by taxpayer money, a group of grassroots activists are hitting America’s largest banks—including JPMorgan Chase, Bank of America and Wells Fargo—where it hurts most: the wallet. Dubbing this Saturday, Nov. 5 as "Bank Transfer Day," activists are urging people to move their money out of the banks deemed "too big to fail" into local community banks and credit unions. Bank Transfer Day draws on an idea popularized by filmmaker Eugene Jarecki, economist Rob Johnson and columnist Arianna Huffington, among others. In 2010, they created the short film called "Move Your Money," which became a viral sensation. We speak with filmmaker Eugene Jarecki.