Report From The Move Your Money Front

[babylonsister]

Dennis Santiago
CEO and Managing Director of IRA
Posted: January 6, 2010 01:31 AM

Report From The Move Your Money Front


My name is Dennis Santiago. I am the CEO of Institutional Risk Analytics, a company that most of the world had never heard of until December 29, 2009. That's the day the country became aware of a tool we donated to help the MoveYourMoney.info campaign. The response to this tool has been inspiring. The large outpouring of a nation expressing itself remains one of the wondrous things about being an American. In this blog, I'll be writing about my observations from behind the computers and analytics. I will try to be factual, educational and maybe even a little entertaining. I hope you enjoy the journey with me.

Today marks the seventh day since the campaign activated the zip code search tool. In the 168 hours that have transpired, Americans have searched for banking alternatives in 16,631 zip codes. That's sixteen percent of the country actively asking the question "what can we do to effect change?" During this time we've been flooded with questions, which taught us a lot of things. Just so you know, we literally cobbled it together in about four hours and spent another four hours cleaning up the look. Then America got to field test it. During the first 48 hours we spent most of our time bomb-proofing it. You'd be amazed what people will type into a box that says "enter a five digit zip code here." Mischief managed, we were able to shift the system over to its full traffic configuration. Congratulations, America! In those 48 hours, over 115,000 of you stress-tested that tool and in the days since you've been continuing to use the tool around 45,000 times a day.

So the burning question, of course, is "will moving your money have an effect?" And by effect, I don't mean making a momentary political statement. I mean making a structural difference to the country's financial system. The answer is yes, and here's how.

more...

http://www.huffingtonpost.com/dennis-santiago/d7-shock-and-awe_b_412681.html

[sendero]

1. Kick...

.. for a really good idea. If you have checking accounts at Citi, BoA, Wells, etc - the question would be ---- why?

[handmade34]

2. glad to see my money

is already in one of the B+ banks

[Blue Meany]

3. What I"m looking for is an a way to transfer money IRA's at

Fidelity and TIAA/CREF into investments in the local economy without losing the tax breaks and without being penalized. I am aware of numerous green businesses that are struggling to get capital and that would contribute to a local sustainable economy and that is where I would like my money to be. It make sense to invest in what you know and can monitor rather than distant companies. But I can find no way to do this.

I have concluded that the IRA tax rules are just another subsidy for Wall Street.

[SpiralHawk]

4. Money move meme mustering mOjO

eom