Occupy Money Cooperative

[Trap Queen Voxxy]

What do you people think of this?

[#FF0000]

lmao

[Trap Queen Voxxy]

lmao

Expound upon this 2F'z. Thank ya.

[#FF0000]

Expound upon this 2F'z. Thank ya.

Welp, everyone on the "founding committee" of this little "co-op" has a background in finance and tech. One was a consultant for the Federal Reserve and the IMF(!).

To be honest I'm going to have to gather my thoughts on this. It's just so, so absurd, and looking at the founding committee makes it even moreso.

Such a bizarre little group.

[The Garbage Disposal Unit]

Oh, a credit union? How wildly revolutionary!

Fucking profiteers.

[The Douche]

I bought my OWS tee shirt from spencer's gifts with my occupy debit card.

[Buzzard]

occupy. oh, you.

[o well this is ok I guess]

The site has almost no meaningful information. There's no mention on how members will participate in the management process except voting on board members in the distant future. It mentions transparency multiple times, but never says what they mean by it.

[#FF0000]

Oh, a credit union? How wildly revolutionary!

Fucking profiteers.

See, I don't even think it's like a credit union. Credit unions are run by members, while this is apparently run by a council of former financial executives who aren't giving out any useful info, like o well this is ok i guess said

This is just sketchy as hell.

[#FF0000]

Also, people who still cling to the "Occupy" thing in 2013 are the worst.

[Rugged Collectivist]

What is it?

[o well this is ok I guess]

What is it? From the information given, a provider of prepaid debit cards and nothing else.

[Jimmie Higgins]

What do you people think of this?I think there's a general sense among many people seeing the short-comings of capitalism right now (and more generally over the last generation) but thinking the problem is one of size. Large banks are kinda untouchable and unknowable and therefore out of our influence according to this logic, so the solution would be to create smaller alternatives where there'd be more local accountability (local in the sense of the people who use the service or in the sense of a local area). This has problems if people see this as a way to counter capitalism in anyway, because it doesn't actually help workers develop any power or organization or anything, it basically just diverts the flow of a tiny amount of capital (which all ends up in the capitalist Ocean at the end of the day anyway).

As an induvidual worker, if you see a deal, some service that you need that has better terms or rates... well why not if all else is equal? But it's not an answer to either the larger problems of capitalist economies or specific problems of banking in a reformist let alone a class sense.