If moving your money to a credit union won't make Bank of America or Wells Fargo small enough to fail, it is a rational consumer decision. Making the switch may not be a revolutionary act, but it will certainly make your life easier.
Why did gold and silver stocks just get hammered, at a time when commodities are considered a safe haven against global uncertainty? The answer is that the sector has been the target of massive short selling.
For a decade, Wall Street was playing funny money games, and many Americans also felt like they were invited to the celebration. We were living in fantasy land, but the fantasy is over and we woke up to a nightmare.
"Financial Reform" will be a boom for people in the payday loan business. There will be many new customers who need bank-like services. It's almost like Congress implemented a plan of "Reverse Robin Hood."
Big banks might win some of the regulation battles and figure out how to protect their fee revenue in the short-term, but they're losing the war for customers. Eventually, customer-attrition will force them to change or perish.
Banks actually want lazy customers. When they invent new fees, they determine how many customers will be upset enough to switch. Unfortunately for us, it's so difficult to switch banks the math has always worked in their favor.
The financial crisis and its string of bank failures has led many to question the safety of their banking institutions. If you're choosing a bank, are you better off looking for a big bank, or a smaller one?