Tag Archives: banks

What Economic Recovery? One step closer to One World Government, IMF proposes international co-op, hints at Global Great Depression

“It’s not a crisis that will be resolved by one group of countries taking action. It’s going to be hopefully resolved by all countries, all regions, all categories of countries actually taking action.”-Christine Lagarde, IMF Managing Director

The director of the International Monetary Fund made that comment in a U.S. State Department conference on December 15.  Christine Lagarde also used the word “retraction” which is another way of saying economic depression.

Lagarde said she is greatly concerned because recent efforts to ‘save’ Europe have failed, and there is growing economic protectionism, and political isolationism, which will only make the global economy worse.  These are all things that helped cause the Great Depression of the 1920s-1930s.

She is calling for a new global financial co-operative system to prevent the coming Global Great Depression.

 

What Economic Recovery? Russia says it will bailout Europe, through the IMF

“41% of foreign exchange reserves in Russia are euro-denominated, so EU member states and Russia all are interested in the security of it.”Dmitry Medvedev, President of Russia

Turns out that Russia has a big stake in European countries getting back on the economic track.

On December 15, Russia’s current President said his country will work to help bailout struggling European countries, but only through the International Monetary Fund: “…we will keep backing the EU in terms of our quota in IMF membership and we will abide by all the commitments, being the participant of the IMF and ready to invest financial means to back the European economy and the euro zone.”

Medvedev did say that it was still up to European Union members to come up with a doable plan: “Only Europe will be able to help Europe but other countries should provide conditions for Europe to liberate itself from the crisis burden as soon as possible and recover from this downturn as soon as possible.”

More proof the Occupy movement is right: When cost of living is included almost 50% of Americans are poor, yet the top 10% got big pay raises in 2010 and their employers lied about it

According to corporate research firm Global Market Insight (GMI), Corporate America’s CEOs got big raises in 2010, even though many companies did not perform well!

The CEOs of the top 500 companies got as much as a 36.5% increase in pay. The next 3,000 U.S. corporations gave their CEOs a pay raise averaging 27%!  Researchers with GMI said they were surprised, and considered the pay increases way out of line with the poor performance of many of the companies.

This news comes at the same time the U.S. Census Bureau is unofficially calling almost half of the population of the United States poor!

SPM rates were higher than official poverty rates in 2010, overall and for most groups”-Brookings/Census Bureau Meeting on Improved Poverty Measurment, November 7, 2011

The new poverty statistics take into account “nondiscretionary” cost of living expenses such as income taxes, child care, health care, commuting to work, etc.  When cost of living is factored in it raises the official number of poor people in the U.S.

The “official” poverty surveys consider before tax income only!  This means the “official” poverty numbers have been way off for decades.  However, the Census Bureau says the new SPM poverty numbers “Will not replace the official poverty measure” and “Will not be used for resource allocation or program eligibility”!

The new SPM numbers also include some types of welfare benefits a family might be getting, plus child support, and yet even with that data the number of poor people still went higher than the “official” poverty numbers.  This is more evidence of how inaccurate the “official” count is, and how rampant poverty is in the U.S.!

The new data was released on November 7, 2011, yet I don’t recall any mainstream U.S. media reporting it. The data covers the year 2010 only, it’s called Supplemental Poverty Measure: 2010 (SPM).

When using the SPM (aka Improved Poverty Measure) a big jump in the number of poor people were found in the age group of 18 to 64 year olds.  But the biggest jump in poverty was found in the age group of people 65 years or older.

If I read the Census Bureau graphs correctly (and if I understood the Bureaus’ explanations of how they figured it), when you add the “official” poverty numbers to the new SPM numbers you get 146.4 million people who are poor  (49.1 million “officially” poor + 97.3 million SPM poor).  Even if you go by just the new SPM data that’s nearly 100 million poor people in the U.S.

Officially there are 312 million people in the United States.

Back to Corporate America’s big pay raises for their CEOs.

The top earning CEO in 2010 was John Hammergen of McKesson Corporation, getting $145 million, not counting his stock options or retirement benefits!  According to GMI, McKesson has essentially lied about how much they paid Hammergen.  They reported they paid Hammergen only (hmph, ‘only’) $46.1 million.

GMI researchers said McKesson refused to explain the difference.  GMI says Hammergen not only got $145 million in pay, he got $112 million in stock options, a retirement plan worth $13.5 million, and, if he ever got fired his severance package is worth $469 million! For getting fired!!! And the right wing neo-conservative ass holes complain about the average unemployed worker being on unemployment pittance (it certainly is not a “benefit”)!!!

Just like it says in HR 1905, we are slaves!

 

Too Big to Fail/Jail: New bank sanctions against Iran or against You? HR 1905 passes House & Senate! Bill reveals U.S. citizens are slaves owned by Banks!!!

On December 14, the U.S. House of Representatives passed the Iran Threat Reduction Act of 2011.  It passed with an overwhelming majority; 410 for, 11 against and 12 abstaining.

The U.S. Senate is now debating their version.

Basically HR 1905 continues the same old sanctions, but with some interesting exemptions and additions:

(1)   the procurement of certain defense articles or services; [this implies that the U.S. Defense Department, or U.S. military industrial complex is doing business with Iran?]

(2)   eligible products to designated countries or instrumentalities;  [“instrumentalities” must mean ‘tools’, or patsies of the United States]

(3)   products, technology, or services under contracts entered into before the date on which the President publishes in the Federal Register the name of the person on which the sanctions are to be imposed;  [in other words some individuals and organizations will be ‘grandfathered’, and not subject to sanctions]

(4)   spare or component parts, or information and technology that are essential to U.S. products or production, and related servicing and maintenance; or  [again more evidence that the U.S. is doing business with Iran]

(5)   medicines, medical supplies, or other humanitarian items.

Here’s some more interesting statements from the HR 1905:

“The bill would state that a determination to impose sanctions under this Act shall not be reviewable in any court.” [so much for the ‘rule of law’]

“The bill would also authorize the President to provide financial and political assistance to certain foreign and domestic type individuals, organizations, and entities that support democracy in Iran.” [code for creating a situation like Libya, or Syria, and of course that’s your taxpayer dollars at work]

“The bill would also impose specified sanctions on a person that knowingly assisted in the exportation of petroleum, oil, or natural gas produced by the IRGC or its affiliates.” [notice this specifically mentions Iranian Revolutionary Guards Corps (IRGC), it does not ban all oil from Iran as the mainstream media leads us to believe. Also, the IRGC is not heavily involved with oil production in Iran, they are a military organization first and foremost, so how effective is this sanction?]

“The bill would block the U.S. property interests of foreign persons or their affiliates that have committed, or pose a significant risk of committing, acts of violence threatening the peace or economic stability of Iraq or Afghanistan.” [notice this statement is not directed against Iranians, but any “foreign persons” and concerns Iraq and Afghanistan]

“The bill would direct the President to develop a National Strategy to Counter Iran.” [code for war!!!]

“The bill would amend the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the Secretary of the Treasury to require any person owned [!?] or controlled [!?] by a domestic financial institution to certify that such person is not engaged in corresponding relations or business activity with the IRGC.” [notice this statement admits that U.S. citizens are not free but are slaves to any U.S. bank, credit union or lending institution that they owe money to, or do business through!!!]

“The bill would require a report on the Central Bank of Iran’s activities to facilitate Iran’s efforts to acquire nuclear missile capacities and promote terrorism.” [really, and how is that information going to be acquired? Is the Bank of Iran going to present their financial transactions to the President of the United States? this statement also presumes guilt without evidence or conviction]

HR 1905 ends with a huge presumption of guilt, which guarantees war with Iran.

Lastly, the bill would terminate the provisions of the Act when Iran:

(1)   has dismantled its efforts to develop or acquire nuclear, chemical and biological weapons;

(2)   no longer provides support for acts of international terrorism; and

(3)   poses no threat to U.S. national security, interests, or allies.

There is no way the Iranian government can disprove the final 3 requirements of HR 1905. It’s the same situation as when Bush Jr made his claims against Iraq, which turned out to be complete lies!!!

Update:

The U.S. Senate passed HR 1905 at the end of May 2012.

Link to PDF of Senate amendments to HR 1905.

May 2012: JAPAN & CHINA DROP THE U.S. DOLLAR, WILL USE THEIR OWN MONEY FOR INTERNATIONAL TRANSACTIONS! BRITAIN WANTS IN ON THE DEAL!

MONEY FOR TALIBAN COMES FROM UNITED STATES? 

JAPAN SUES U.S. OVER IRAN SANCTIONS! U.S./U.K. NEWS MEDIA LIE ABOUT JAPANESE BANKS FREEZING IRANIAN ACCOUNTS!

March 2012: YET AGAIN, RECORD NUMBER OF PEOPLE RENOUNCE U.S. CITIZENSHIP. I-R-S BLAMES ELECTED OFFICIALS. 

EVIDENCE THE QUEEN OF ENGLAND IS A DRUG DEALER; U.K. BANK REGULATOR SAYS SO! 

MORE U.S. CITIZENS RENOUNCE THEIR CITIZENSHIP, IF YOU LEAVE YOU ARE NOW CONSIDERED A TERRORIST

CORPORATE FUEDALISM, YOU ARE A SLAVE, BIG MONEY INVESTMENTS NOT GOING TO CREATE JOBS BUT TO FINANCE MORE BIG MONEY INVESTMENTS! PRISON INDUSTRY FASTEST GROWING IN THE U.S.

February 2012: MORTGAGE SETTLEMENT MONEY TO BE USED TO DESTROY HOMES, NOT KEEP PEOPLE IN THEIR HOMES!

IRAN SHUTS DOWN GLOBAL STEEL INDUSTRIES, BLAMES THE UNITED STATES

4,000 PEOPLE STRANDED WHEN AUSTRALIAN AIRLINE IS SUDDENLY DELEVERAGED BY TOO BIG TOO FAIL/JAIL BANKS

U.S. IMPOSES SANCTION AFTER SANCTION AGAINST IRAN, WHICH ARE ACTS OF WAR

January 2012: DE-LEVERAGING WILL CONTINUE UNTIL THE ECONOMY IMPROVES, AND THAT MEANS YOU!

IRAN WILL STOP BUYING PRODUCTS FROM EUROPE AND THE UNITED STATES! WORKING WITH CHINA AND INDIA TO TRADE OIL FOR GOLD!

MORGAN STANLEY SAYS IF YOU’RE NOT A SHAREHOLDER, YOU ARE NOBODY!!!

September 2011: BANK OF AMERICA INCREASES HOME FORECLOSURES BY 200%

ARTIST BEING HARRASED BY Police BECAUSE OF HIS ANTI-BANK PAINTINGS

CORPORATIONS THAT USE PRISON LABOR, AND THE STATES THAT ARE INVOLVED

December 2011: U.K. PREPARES FOR COLLAPSE OF THE EURO, BELIEVES BRITAIN WILL BE FLOODED WITH ECONOMIC REFUGEES, SWIZTERLAND TAKING ACTION

AS MANY AS 28 MILLION PEOPLE IN THE U.S. REFUSE TO OPEN A BANK ACCOUNT

PROTESTORS SHUT DOWN WELLS FARGO, BECAUSE OF DIRECT LINKS TO CORPORATE PRISONS, IDAHO POLITICIANS IN THE POCKETS OF CORPORATE PRISONS

IRAN SHOOTS DOWN U.S. UNMANNED AERIAL VEHICLE, CHINA SAYS IT WILL SUPPORT IRAN EVEN IF IT MEANS THE THIRD WORLD WAR

THE BIG JUMPS IN STOCK MARKETS HAVE NOTHING TO DO WITH ECONOMIC RECOVERY. IT’S ALL PART OF THE NEW WAY THE ELITE 1% MAKE MONEY.

November 2011: NEW GREEK & ITALIAN PRIME MINISTERS PART OF ROCKEFELLER’S TRILATERAL COMMISSION’S PUSH FOR ONE WORLD GOVERNMENT

August 2011: AVERAGE CONSUMERS ARE BLAMED FOR NOT SPENDING, BUT IT’S THE ELITES THAT ARE HOARDING THE CASH, MINIMUM WAGE EARNERS ARE LOSING MONEY BY WORKING

GROUP OF 7 DECIDE TO ANSWER THE U.S. DEBT PROBLEM BY FLOODING MARKETS WITH LIQUIDITY, WON’T THAT CREATE HYPERINFLATION?

THE BIG THREE COUNTRIES U.S. TAXPAYERS ARE BEHOLDED TO

July 2011: IF YOU WANT A GOOD CREDIT RATING, DON’T LIVE IN IDAHO. WHERE YOU LIVE NOW AFFECTS YOUR CREDIT SCORE

May 2011: GERMAN BANK CONTINUES VIOLATING SANCTIONS AGAINST IRAN

CORPORATE AMERICA IS BROKE, LYING ABOUT PROFITS

April 2011: JAPANESE BANK PRESIDENT RESIGNS, BECAUSE THEY WEREN’T PREPARED FOR 9.0 QUAKE/TSUNAMI

NEW YORK CITY DESPERATE TO SELL LAND TO CHINA

Japan admits high levels of radiation in north eastern Honshu!

Japan’s Environment Ministry has given some clues as to how bad the radiation contamination is in north eastern Honshu.  The area is being devastated by radiation coming from the Fukushima Daiichi nuclear plant.

In a report on how the government of Japan plans to address decontamination issues, they revealed that some areas have soil that’s emitting more than 0.23 microsieverts per hour!

They also stated that ‘sludge’ has been found to be contaminated with 8,000 becquerels per kilogram of cesium!

The Environment Ministry even admitted that areas as far south as Tokyo are highly contaminated and will require decontamination.  Tokyo is about 220 kilometers, or 137 miles from Fukushima Daiichi nuclear plant.

 

Japan says it will take at least 40 years to scrap the Fukushima Daiichi nuclear plant!

The Japanese government released details of their plan to tear down the Fukushima Daiichi nuclear plant.

From 2012 to 2015 they hope to remove the hundreds of spent fuel rods stored in the facility’s spent fuel pools.

Then from 2015 to 2021 they will work to repair and fill up the highly radioactive reactor containment vessels with the melted fuel rods inside.  That plan involves using water to fill the containment vessels on four reactors.

Then by 2022 they hope they can figure out a way to safely remove the melted fuel rods from the containment vessels.  The ultimate goal is to tear down the reactor buildings.

 

Global Economic War: China slaps U.S. made cars with tariffs, blames it on the anti-free trade action of the United States

“U.S. vehicles benefiting from subsidies and dumping on the China market have substantially damaged China’s auto industry.”-statement from Chinese Ministry of Commerce

General Motors and Chrysler will suffer the most from Chinese economic action against vehicles made in the United States.

Anti-dumping duties on GM vehicles are 8.9%, and 8.8% for Chrysler vehicles.

GM vehicles will also face anti-subsidy duties of 12.9%, and 6.2% for Chrysler vehicles.

The tariffs target cars with engines bigger than 2.5 liters, and made between December 201 through December 2013.

German car makers BMW and Mercedes will be hit with much much lower tariffs.

Chinese officials say the United States is violating the trade rules of the U.S. dominated World Trade Organization.

GM and Chrysler officials are not to worried.  Why? Because the majority of the cars they sell in China, are actually made in China (another reason for growing unemployment in the U.S.), and the tariffs do not apply to the cars they make in China.

 

What Economic Recovery? The United States ranks as World’s 4th worst for income disparity. Another official study that proves that the Occupy movement is right! Proof the American Dream was a lie!

“The income inequality level of the United States ranks only after Chile, Mexico and Turkey in the 29 OECD countries. Inequality among working age people has risen steadily since 1980, in total by 25%.”John Martin, OECD

The Organization for Economic Co-operation and Development (OECD) released its latest report on income disparity, and the United States came in as fourth worst, after Mexico, Chile and Turkey.

The report is called: Growing Unequal? Income Distribution and Poverty in OECD Countries.

The report says the trend for the wealth not being spread evenly within the U.S. actually began in the 1970s.

Here’s some interesting facts from the report: “The average income of the richest 10% is US$93,000 US$ in purchasing power parities, the highest level in the OECD. However, the poorest 10% of the US citizens have an income of US$5,800 US$ per year – about 20% lower than the average for OECD countries.”

“Redistribution of income by government plays a relatively minor role in the United States…effectiveness of taxes and transfers in reducing
inequality has fallen still further in the past 10 years.”

“Wealth is distributed much more unequally than income: the top 1% control some 25-33% of total net worth and the top 10% hold 71%.” 

Richard L. Trumka, chairman of the Trade Union Advisory Committee, said the growing disparity in income in the United States is not because the average person isn’t willing to work harder, but because wages and benefits for the average worker have actually been going down (when adjusted for inflation), while salaries, benefits and other forms of revenue for the top 10% have been going up!

A video presentation by the OECD says this latest study is the most detailed ever.

The study also discovered that low income families stuck in countries with high income disparities, can not expect to ever prosper in those countries: “…but what we find is that in very unequal societies they get stuck. Their incomes don’t reflect their true talents and they stay much poorer on average…”-Mark Pearson, OECD

 

OWS: An Open Letter from America’s Port Truck Drivers on the Occupy the Ports

We are the front-line workers who haul container rigs full of imported and exported goods to and from the docks and warehouses every day.

We have been elected by committees of our co-workers at the Ports of Los Angeles, Long Beach, Oakland, Seattle, Tacoma, New York and New Jersey to tell our collective story. We have accepted the honor to speak up for our brothers and sisters about our working conditions despite the risk of retaliation we face. One of us is a mother, the rest of us fathers. Between the five of us we have 11children and one more baby on the way. We have a combined 46 years of experience driving cargo from our shores for America’s stores.

We are inspired that a non-violent democratic movement that insists on basic economic fairness is capturing the hearts and minds of so many working people. Thank you “99 Percenters” for hearing our call for justice. We are humbled and overwhelmed by recent attention. Normally we are invisible.

Today’s demonstrations will impact us. While we cannot officially speak for every worker who shares our occupation, we can use this opportunity to reveal what it’s like to walk a day in our shoes for the 110,000 of us in America whose job it is to be a port truck driver. It may be tempting for media to ask questions about whether we support a shutdown, but there are no easy answers. Instead, we ask you, are you willing to listen and learn why a one-word response is impossible?

We love being behind the wheel. We are proud of the work we do to keep America’s economy moving. But we feel humiliated when we receive paychecks that suggest we work part time at a fast-food counter. Especially when we work an average of 60 or more hours a week, away from our families.

There is so much at stake in our industry. It is one of the nation’s most dangerous occupations. We don’t think truck driving should be a dead-end road in America. It should be a good job with a middle-class paycheck like it used to be decades ago.

We desperately want to drive clean and safe vehicles. Rigs that do not fill our lungs with deadly toxins, or dirty the air in the communities we haul in.

Poverty and pollution are like a plague at the ports. Our economic conditions are what led to the environmental crisis.

You, the public, have paid a severe price along with us.

Why? Just like Wall Street doesn’t have to abide by rules, our industry isn’t bound to regulation. So the market is run by con artists. The companies we work for call us independent contractors, as if we were our own bosses, but they boss us around. We receive Third World wages and drive sweatshops on wheels. We cannot negotiate our rates. (Usually we are not allowed to even see them.) We are paid by the load, not by the hour. So when we sit in those long lines at the terminals, or if we are stuck in traffic, we become volunteers who basically donate our time to the trucking and shipping companies. That’s the nice way to put it. We have all heard the words “modern-day slaves” at the lunch stops.

There are no restrooms for drivers. We keep empty bottles in our cabs. Plastic bags too. We feel like dogs. An Oakland driver was recently banned from the terminal because he was spied relieving himself behind a container. Neither the port, nor the terminal operators or anyone in the industry thinks it is their responsibility to provide humane and hygienic facilities for us. It is absolutely horrible for drivers who are women, who risk infection when they try to hold it until they can find a place to go.

The companies demand we cut corners to compete. It makes our roads less safe. When we try to blow the whistle about skipped inspections, faulty equipment, or falsified logs, then we are “starved out.” That means we are either fired outright, or more likely, we never get dispatched to haul a load again.

It may be difficult to comprehend the complex issues and nature of our employment. For us too. When businesses disguise workers like us as contractors, the Department of Labor calls it misclassification. We call it illegal. Those who profit from global trade and goods movement are getting away with it because everyone is doing it. One journalist took the time to talk to us this week and she explains it very well to outsiders. We hope you will read the enclosed article “How Goldman Sachs and Other Companies Exploit Port Truck Drivers.”

But the short answer to the question: Why are companies like SSA Marine, the Seattle-based global terminal operator that runs one of the West Coast’s major trucking carriers, Shippers’ Transport Express, doing this? Why would mega-rich Maersk, a huge Danish shipping and trucking conglomerate that wants to drill for more oil with Exxon Mobil in the Gulf Coast conduct business this way too?

To cheat on taxes, drive down business costs, and deny us the right to belong to a union, that’s why.

The typical arrangement works like this: Everything comes out of our pockets or is deducted from our paychecks. The truck or lease, fuel, insurance, registration, you name it. Our employers do not have to pay the costs of meeting emissions-compliant regulations; that is our financial burden to bear. Clean trucks cost about four to five times more than what we take home in a year. A few of us haul our company’s trucks for a tiny fraction of what the shippers pay per load instead of an hourly wage. They still call us independent owner-operators and give us a 1099 rather than a W-2.

We have never recovered from losing our basic rights as employees in America. Every year it literally goes from bad to worse to the unimaginable. We were ground zero for the government’s first major experiment into letting big business call the shots. Since it worked so well for the CEOs in transportation, why not the mortgage and banking industry too?

Even the few of us who are hired as legitimate employees are routinely denied our legal rights under this system. Just ask our co-workers who haul clothing brands like Guess?, Under Armour, and Ralph Lauren’s Polo. The carrier they work for in Los Angeles is called Toll Group and is headquartered in Australia. At the busiest time of the holiday shopping season, 26 drivers were axed after wearing Teamster T-shirts to work. They were protesting the lack of access to clean, indoor restrooms with running water. The company hired an anti-union consultant to intimidate the drivers. Down Under, the same company bargains with 12,000 of our counterparts in good faith.

Despite our great hardships, many of us cannot — or refuse to, as some of the most well-intentioned suggest — “just quit.” First, we want to work and do not have a safety net. Many of us are tied to one-sided leases. But more importantly, why should we have to leave? Truck driving is what we do, and we do it well.

We are the skilled, specially-licensed professionals who guarantee that Target, Best Buy, and Wal-Mart are all stocked with just-in-time delivery for consumers. Take a look at all the stuff in your house. The things you see advertised on TV. Chances are a port truck driver brought that special holiday gift to the store you bought it.

We would rather stick together and transform our industry from within. We deserve to be fairly rewarded and valued. That is why we have united to stage convoys, park our trucks, marched on the boss, and even shut down these ports.

It’s like our hero Dutch Prior, a Shipper’s/SSA Marine driver, told CBS Early Morning this month: “If you don’t stand for something, you’ll fall for anything.”

The more underwater we are, the more our restlessness grows. We are being thoughtful about how best to organize ourselves and do what is needed to win dignity, respect, and justice.

Nowadays greedy corporations are treated as “people” while the politicians they bankroll cast union members who try to improve their workplaces as “thugs.”

But we believe in the power and potential behind a truly united 99%. We admire the strength and perseverance of the longshoremen. We are fighting like mad to overcome our exploitation, so please, stick by us long after December 12. Our friends in the Coalition for Clean & Safe Ports created a pledge you can sign to support us here.

We drivers have a saying, “We may not have a union yet, but no one can stop us from acting like one.”

The brothers and sisters of the Teamsters have our backs. They help us make our voices heard. But we need your help too so we can achieve the day where we raise our fists and together declare: “No one could stop us from forming a union.”

Thank you.

In solidarity,

Leonardo Mejia
SSA Marine/Shippers Transport Express
Port of Long Beach
10-year driver

Yemane Berhane
Ports of Seattle & Tacoma
6-year port driver

Xiomara Perez
Toll Group
Port of Los Angeles
8-year driver

Abdul Khan
Port of Oakland
7-year port driver

Ramiro Gotay
Ports of New York & New Jersey
15-year port driver

Bank Incompetence: As many as 28 million people in the U.S. refuse to open a bank account

“The bottomline is that about 7.7% of U.S. households have no account in an insured financial institution and an additional 17.9% are underbanked, meaning they have an account but they utilize high cost financial service providers.”– Martin Gruenberg, FDIC

According to the U.S. Census Bureau, 17 million people in the United States do not have bank accounts.  According to Tom Putnam with the Idaho non-profit group, Partners for Prosperity, that number could actually be as high as 28 million!

The reasons vary from just not understanding the concept of bank accounts to people who’re fed up with getting ripped off by the banks.  The FDIC (Federal Deposit Insurance Corporation) says at least half of the people who’ve stopped using banks have done so because of a bad experience.

Another factor is that with all the fees banks charge, and with declining incomes, many people say it just not worth it to put their hard earned money into a bank.

According to Tom Putnam, the percentage of people who don’t use banks here in Idaho is bout 7%.