Free Markets, Free People

Banks are bad … unless you need one

OWS continues to expand its litany of hypocrisy almost daily, but this one may take the cake.  A protest aimed at Wall Street and bankers, one would think that such a protest would eschew any connection with banks during its protest.  No?


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.

Yes friends, the “general assembly” of a protest aimed at banks and bankers has used a bank to protect their donations.  In fact, the vote was 162-8.  Apparently only those voting “no” recognized the absurdity of the decision given their position on banks.

But obviously the majority feared the money wasn’t safe in and among the crowd of protesters.

Go figure.

As for the irony of the decision – missed it completely apparently.  Some of their supporters, sounding off on Twitter, didn’t:

“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.

You just can’t make this stuff up.  Well, you can, but with this bunch there’s no need.


Twitter: @McQandO

12 Responses to Banks are bad … unless you need one

  • In New York, these redistributionalists collected $500,000 in donations, but was unable to decide how to distribute it among the collective.
    They have no sense of irony.

    • @Neo_ They should have taken the 500k and started a business. You know one that pays a living wage, provides health care, sick days, paid holidays and vacations, only employees Americans (with liberal arts degrees or GEDs), has a neutral carbon footprint,and never attempts to lobby gov’t to change the laws to favor them.

      • @SeanMcCormick @Neo_ Hmmm, how about a consultancy on how to organize protests?

      • @SeanMcCormick @Neo_ Hell, then could apply for a government loan for another 500K. They don’t even have to stay in business long after taking the money, I mean, look at the half bill we dumped into Solyndra. Course they ARE going to have to kick about 100K into Re-elect O in order to get the money.

        • @looker @Neo_ I was thinking maybe they might see how difficult / asinine what they asking for really is.

  • One thing I note consistently is if “this is what democracy looks like”, I wouldn’t invite it over for dinner. Democracy apparently seems to be dirty, unkempt, and frequently wears some kind of covering to conceal it’s true identity.

  • sdss

  • Wells Fargo got a $25B TARP bailout (government stock purchase, it looks like), which it paid back (repurchased the stock) already, plus dividends.

    You’d think that would deflate the desire to Show Them Who’s Boss as against wicked Corporate Welfare Bailouts.

    One wonders why they thought it was useful to break windows at a local branch?

    (Okay, one doesn’t, but one might wish they had a thought process more subtle than “BANK BAD!”)

    I mean, for people upset about bailouts, one would think they’d pick better targets, like AIG.

    Guess that’d be more work than finding the nearest “big bank” and smashing some stuff. For democracy.

    God-damn amateur hour. Which I suppose I should be thankful for, overall.

    • @sigivald I believe Wells Fargo was actually one of the banks that didn’t go whole hog during the boom times and only took the TARP money because they were forced to do so by the government.

      • @Harun @sigivald Wells Fargo must have been in decent shape because the bought the retail banking division from Wachovia.
        Just once I would like to use up all my checks before the change the name. I started with Industrial Valley Bank, then Fidelity and First Fidelity, Meridan, Core States, First Union (AKA the FU bank), Wachovia (AKA the “wacky” bank) and now Wells Fargo

  • No one seems to complain about lawyers, making $300-500 an hour and creating their “employment perpetuation” scams in the legislature.