Wisconsin Firefighters Shut Down Bank That Funded Walker

Posted: March 14, 2011 in Uncategorized

All,

While this action closed the bank temporarily while it obtained more cash, it certainly sent a clear and unequivocal message: depositors will not tolerate seeing banks use their money against their interests.

I think this is an action that deserves to be widely repeated.

Scott

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Wisconsin Firefighters Shut Down Bank That Funded Walker

http://www.alternet.org/newsandviews/article/515607

Everybody knows the GOP’s biggest weakness is money, so why not hit ’em in the sweet spot? That’s what many amazing Wisconsin firefighters did yesterday when they collectively began withdrawing their funds from Madison’s M&I Bank — whose executives and board members were among the highest donors to Governor Scott Walker’s campaign.

Heeding a call by Firefighters Local 311 President Joe Conway to ‘Move your money,’ union members withdrew over $100,000 from the bank, with some reports stating that number is as high as $192,000. Either way, it was a hefty enough chunk of change that M&I shut its doors and closed for the day at 3PM.

This is a very simple, very peaceful way to inflict some serious damage on the money-grubbers; super kudos to the Firefighters Union.

Anecdoctally — ‘M&I Bank received $1.7 billion in bailout money via President George W. Bush’s Troubled Assets Relief Program. The bank was acquired by the Bank of Montreal in December of 2010 for $4.1 billion in stock,’ reports Dane101.

UPDATE: Stranded Wind over at DailyKos has photos of the protest outside M&I, and says the ante has been upped to $600,000! ‘What these pictures show are six hundred ordinary citizens descending on the M&I branch near the Wisconsin Capitol after learning of their purchase of the gubernatorial election last November. Two firefighters with old school ideas about saving had over $600,000 between the two of them and they demanded cashier’s checks on the spot.’

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