Nader: Banking on Credit Unions

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Ralph writes, “While the reckless giant banks are shattering like an over-heated glacier day by day, the nation’s credit unions are a relative island of calm largely apart from the vortex of casino capitalism…They are well-capitalized because of regulation and because they do not have an incentive to go for high-risk, highly leveraged speculation to increase stock values and the value of the bosses’ stock options as do the commercial banks” — We have our money in the Actors Federal Credit Union, and thank gods for that .. Debbie and I read this and and went, phew!! – mab

 

 

This entry was posted on Saturday, February 21st, 2009 at 9:41 AM and filed under Articles, Economics. Follow comments here with the RSS 2.0 feed. Skip to the end and leave a response. Trackbacks are closed.

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