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Unions withdrawing funds from "unethical" banks

This would imply the existence of an ethical bank. ;)
 
Hoplite said:
St. Louis Union Withdraws $100,000 From 'Unethical' Bank Of America

This particular report is about a specific union, but I have read of this happening with other unions on the East coast. I think this is a great move, using money effectively to put pressure on banks to be more reform-friendly.
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Sounds similiar to the Alinksy style tactics of busing in thousands of people to all open a $1 savings account, and thus effectively shutting down a bank branch for the day.

I think the response from BOA adaquatly explained what was really going on, and it seems the union is just out of touch with reality.
 
NolaMan said:
Sounds similiar to the Alinksy style tactics of busing in thousands of people to all open a $1 savings account, and thus effectively shutting down a bank branch for the day.

I think the response from BOA adaquatly explained what was really going on, and it seems the union is just out of touch with reality.
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Isnt it part of Capitalism to be able to choose who one does business with? Why criticize the unions for doing this when it's a virtue extolled by free-market advocates
 
Hoplite said:
Isnt it part of Capitalism to be able to choose who one does business with? Why criticize the unions for doing this when it's a virtue extolled by free-market advocates
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It is fine for the union to do whatever they want with their money.

What may be problematic is potentially libelling the bank by calling it unethical.

I would like BAC to sue the union for libel and see what happens. It would cost the union more than their 100K to defend their statement. Maybe teach others to be careful using offensive language.
 
Hoplite said:
Isnt it part of Capitalism to be able to choose who one does business with? Why criticize the unions for doing this when it's a virtue extolled by free-market advocates
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I have no problem with them withdrawing their money, they can do whatever they want with their money. As Washunut mentioned, the problem is their accompanying statment which seems to be less than accurate.
 
It sounds to me like a case of the pot calling the kettle black.
 
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