Cities need to move their money

DailyKos:

Two weeks after Portland mayoral candidate state and Rep. Jefferson Smith publicly challenged Portland to move some of its money to local credit unions, Mayor Sam Adams this morning said he would pursue the cause.

The mayor's comments came during the public testimony portion of Wednesday's regular Portland City Council meeting and follow on the heels of the Occupy Wall Street movement and related protests against national banks.

When Portland follows through, it will cost Wells Fargo tens of millions of dollars.

Smith, who is a rockstar in the making (seriously, remember his name) is running for mayor of Portland. He certainly does himself favors by embracing Move Your Money.

Read the full article here. Discuss below.

Posted on Nov. 17, 2011
 comments

  • 4:18 p.m.
    Nov 17, '11
    (Show?)

    Big thanks to Jefferson & the Mayor for helping Portland set a positive example. (And of course, due credit to the move your money movement generally!)

    It's great to see Portland highlighted for taking a constructive step to reduce our dependence on big banks amidst national press focused on police crack-downs on Occupy protesters.

    Here's to Portland continuing to be a national leader on this progressive front and others.

  •
    4:21 p.m.
    Nov 17, '11
    (Show?)

    Jeff, Thank you for getting this hugely important change going with the Mayor. Good work!

  •
    5:31 p.m.
    Nov 17, '11
    (Show?)

    This is Christy from the Jefferson Smith for Mayor campaign. We are really excited that the City is taking steps toward responsible banking.

    One way that we can all help to make sure that taking a look becomes taking action? Sign our Letter to the Mayor here: http://www.jeffersonsmith.com/move-our-money/

    Thanks!

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