April 30, 2012 Huffington Post | R. Paul Herman and Tom Bowmer
‘Too Big to Fail’ Banks Less Profitable and More Risky Than Sustainability-Focused Banks
In 2009, Arianna Huffington and Rob Johnson of the Huffington Post called on individuals to move their money out of these “too big to fail” institutions and put it into smaller, local banks that had avoided the excessive risk taking and greedy behavior leading up to the crisis. This soon morphed into a full-fledged “Move Your Money” campaign which aims to empower individuals to reform a broken financial system by putting their money and support behind local and community-based banks. Over the past three years, the campaign says that 4 million-plus accounts have moved from large institutions to their more sustainability-oriented counterparts.
Clearly, people have begun to seriously reevaluate their relationships with “too big to fail” institutions, and are starting to take action. The impetus to put your money with a bank that serves the community where it is based and aims to have a positive impact on society is enticing. But does this sustainability banking approach make financial sense?
Read more HERE and send us your comments in the article, or below, or Tweet @HIPInvestor.
