Closing Bank Accounts?

[ScotTFO]

So it's been a long time coming and I finally finished getting all of my loans and bank accounts moved to the local credit union. Today I went into the Chase bank by me to close out my accounts and they asked me why? I said it was politically motivated and I didn't want to do business with their company due to their campaign contributions. Not having a good rebuttal to that the guy I was talking to went and got the branch manager who then sat down and started to question me.

I spent a good 30 minutes explaining to him how the NDAA was the last straw for me and I wouldn't willingly do business with a company that is making campaign contributions to socialist candidates. He then explained to me how they are one of the top donators to the community especially to Florida and tried to appeal to me with their generosity. I told him "I really do appreciate it and I respect the company for giving back, but they can do that and even more so if they weren't spending money on political campaigns.". It didn't end there, he tried to explain to me great regulations that Chase helps to bring to this country to which I quickly said "I'm a libertarian, I don't want your regulations". I think from there he understood my position and didn't press it any further. Though I did take 10 minutes to tell them both that I actually had a great experience with Chase bank and would love to do business with them in the future when they stop contributing money to political candidates.

Now granted I am just one person, actually two since my girlfriend came with me and did the same, though they are probably writing me off and a crazy person. Either way I figure if more people started making statements like this, maybe one day the companies would listen.

Obama - JPMorgan Chase & Co - $808,799
Romney- JPMorgan Chase & Co - $112,250

[otherone]

Remember, you also had the opportunity to convert some infidels to the RP12 movement....

[r3volution]

good 4 u . i did the same a month ago . wrong section though ..

[69360]

It won't make a difference at all to Chase, but maybe some workers in the branch opened their eyes a bit.

I use a small local bank, always have.

My mortgage is with Chase and I've tried to get it refinanced elsewhere, but nobody will take me even though I've never missed a payment. So I've been saving up to pay it off.

[mbburch]

It didn't end there, he tried to explain to me great regulations that Chase helps to bring to this country to which I quickly said "I'm a libertarian, I don't want your regulations". I think from there he understood my position and didn't press it any further.

Most libertarians support banking regulations. They do not view fractional-reserve banking as a legitimate industry, so they consider banking regulations to be in the same category as laws against fraud.

Dr. Paul voted AGAINST the repeal of Glass-Steagall for this very reason. Until we have a free banking system, limitations on the system are actually a good thing.

Just thought I would mention this -- it's an important point that is rarely discussed.

[ScotTFO]

Most libertarians support banking regulations. They do not view fractional-reserve banking as a legitimate industry, so they consider banking regulations to be in the same category as laws against fraud.

Dr. Paul voted AGAINST the repeal of Glass-Steagall for this very reason. Until we have a free banking system, limitations on the system are actually a good thing.

Just thought I would mention this -- it's an important point that is rarely discussed.

TIL - Most libertarians support banking regulations.

I'm new to this and trying to keep myself educated. thank you! I will look into this view more.

[swissaustrian]

Libertarians definitely support bankRUPTCY regulations.

[ItsTime]

Use a credit union.

[mbburch]

TIL - Most libertarians support banking regulations.

I'm new to this and trying to keep myself educated. thank you! I will look into this view more.

No problem. One of the great things about Ron Paul is that his votes are always rooted in principle; you often have to educate yourself in order to understand why he voted a particular way. Libertarians are overwhelmingly opposed to market regulations, but most consider FRB to be a scam instead of a true market for money. So until we can eliminate the current system, regulation is the next-best option.

This is a good article on the subject:
http://mises.org/daily/4100

[bobburn]

I'm an AnCap, so yeah, I'm with the OP here. Most of the banking regulations, excepting those such as Glass-Steagal, are terrible and serve only to perpetuate the corrupt Keynesian nightmare that we have.

[Kimmie]

Kudos to you.