Peralta Community College Board Approves Moving Money Out Of Big Banks

Board Trustee Abel Guillen

Nov. 16, 2011 | Members of the Peralta Community College Board of Trustees charged with overseeing over 45,000 students in the East Bay voted Tuesday night to acquiesce to the growing power of the Occupy movement by beginning the process of pulling its assets from large banking institutions.

The resolution, first introduced by Trustee Abel Guillen, asks the community college chancellor to provide the board a list of recommendations for beginning the move to smaller community-based banks and credit unions no later than the end of January.

In essence, the move is similar to the recent push two weeks ago highlighted by the occupy movements across the nation to transfer accounts from large institutions such as Bank of America, Citibank, Wells Fargo and Chase, among others, to smaller banks. The movement has identified the financial misconduct of big banks as a main culprit for the nation’s growing economic inequality.

Guillen, who is one of four candidates for assembly’s newly formed 18th district, said the resolution is influenced by the ideals of the protesters growing rapidly in Oakland and Berkeley.

“At every level of government, our elected representatives must foster policies and programs that support the larger economic and social goals of the Occupy Wall Street Movement, so that the people’s energy and outrage on the streets can be channeled into constructive economic actions instead of toward violence and vandalism that drain our already limited public resources,” said Guillen.

“This practical action is a clear expression of our community values and can make a real difference.”

The Peralta Community College District is made up of Berkeley City College, College of Alameda, Laney College and Merritt College.

Categories: Abel Guillen, Assembly, banks, Berkeley, Oakland, occupyoakland, Peralta Board of Trustees, Uncategorized

3 replies

  1. While the board members are voting on this issue, do you think Peralta board member, Marcie Hodge, could also complete her legal duty to fully report the sources of money for her recent campaign for mayor of Oakland.

    You see Marcie Hodge never filed a final campaign finance report (as required by law) that included all the money she received and spent for all those huge billboards she put up.
    Most folks suspect that the dollars for those billboards were donated by people who really wanted Don Perata to be elected.

    Now, a year later, Marcie Hodge still refuses to reveal who paid for all those huge billboards.
    Only a complaint, filed by a resident of the Peralta District to the FPPC will force her to comply with the laws.

    So, for now, this Peralta board member simply ignores the law and her duty for full disclosure.
    This from the same person who used her Peralta credit card to purchase clothing in Las Vegas.
    (Which she finally paid back after the issue came to light)

    Yet another public official acting as though they are above the law.
    I suppose Marcie Hodge can plea that she would comply with the campaign filing requirements except she is spending so much time multi-tasking with texting and calls on her 2 cell phones.

    Yeah, that's the ticket!


  2. Really an interesting post. Thanks for an insightful post. It encouraged bank customers to transfer their cash out of big banks to credit unions. 🙂


  3. This is a good move that other big bank customers should follow. This will not only enable smaller banks to thrive but it will also make the big banks lose their monopoly and control over the majority of our country's funds. This is one way of punishing them for gambling with our savings and using the taxpayer's money to bail them out.


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