Thursday, November 10, 2011

#OWS (hearts) Wall Street...

... they really, really do.

Stick a fork in "irony". It's done.

Last week, one or more Occupy Oakland protesters smashed the windows of a Wells Fargo branch.

This week, the group’s general assembly agreed — in a near-unanimous vote Monday — to temporarily place $20,000 of the group’s money in an account at the country’s fourth-largest bank holding company, Wells Fargo Bank.

Whether the decision was an abandonment of the movement’s opposition to big banks or an ominous affirmation of the hold that big banks have on Americans, Twitter was ablaze with outrage last night, as news spread about the 162-8 vote, from which 16 people abstained.

“I am so disgusted right now. the hypocrisy of it all is just amazing,” wrote @GiveMeThatJuice.

“ARE YOU F------ SERIOUS?!,” wrote @graceface.

“I can see the ad now: ‘People’s money is so safe here at Wells Fargo, even our sworn enemies use us for their banking needs!’” wrote @davidcolburn.

Oh, and you better believe that Wells Fargo is taking advantage of this. Here's Wells Fargo spokesman, Ruben Pulido on this most recent development regarding the unwashed 99%:

“If this report is true,” he wrote, “it demonstrates that even Occupy Oakland understands — firsthand — the value and service that Wells Fargo provides its customers. Wells Fargo welcomes the 100 percent of Americans to allow us to help them meet their financial needs.”

We're all 100%, now!

According to meeting minutes posted on a Facebook page for the “Oakland General Assembly,” the group’s lawyer, Tim Fong, will temporarily keep a $20,000 donation from Occupy Wall Street in a Wells Fargo account, until he can finalize paperwork needed to open a credit union account for the group. The move is necessary to expedite the money’s availability for bailing out jailed protesters, the minutes said.

Occupy Wall Street donated the money to Occupy Oakland with stipulation that it be put toward medical and legal needs.

Just a thought but maybe these vanguards for social justice and equality can put that 20 large to work by recompensating the storefront businesses that have suffered due to their Obamaville Occupations. Wouldn't the ultimate kumbaya gesture be for Occupy to pay for the broken windows of the institution they are now entrusting with their donated scratch?

And if that won't do, perhaps we can beg upon the Occupiers for their tent slums to be just a little more drug-free and just a little bit less rape-y.

And finally:

The minutes said Fong was waiting on the state to finalize paperwork establishing Occupy Oakland as an unincorporated association, which could take up to two weeks.

Bank co-founder Kat Taylor, whose unorthodox OneCalifornia Bank touts its commitment to local investment and supported the recent Bank Transfer Day, said she understands Occupy Oakland’s plight.

“Banks have to be vigilant about customer identification, knowing what their source of money is,” Taylor said.

Putting your money, immediately and with no questions asked, into an inherently amoral banking institution vs. waiting two weeks on the man to give you permission to put your money into a credit union.

Just a couple of days ago, we said that Occupy San Diego destroying a couple of food and beverage carts once they stopped "free" hand-outs represented the ultimate metaphor for the Occupy movement. This recent development in Oakland may have bested it.


drozz said...

so...can they be sued by those businesses looking for compensation for damaged property?

SarahB said...

I think Leslie is right, they really are literal zombies. Can't throw a stick without hitting a local small bank up there...but they can't find one? Wonder if the SD group is making a formal structure...and can they be sued?

B-Daddy said...

Wells Fargo was unfairly targeted in the first place. They were probably the most ethical big bank with regards to mortgage lending practices. I personally think this was the right move. The wrong move was vandalism.

Doo Doo Econ said...

Why hasn't Obama stepped in to provide a government solution, "Single Saver" if you will?