The Democratic National Committee is planning to pull some of its deposits from Bank of America in favor of a bank owned by labor unions, a party source told the Wall Street Journal -- but money for the upcoming convention money will be staying put.
A convention official tells the Observer that the DNCC will keep its money in the Charlotte bank.
The convention host committee and its New American City fund also have their money with Bank of America. In total, about $65 million in convention money could pass through the bank.
The Democratic National Committee joins a number of other liberal organizations in moving some of its money to union-owned Amalgamated Bank, the Journal says, after pressure originating from the Occupy Wall Street movement.
Monday, August 13, 2012
DNC (but not convention) pulling money from Bank of America
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7 comments:
I classic case of the tail wagging the dog.
Investing with the mob... sweet returns from what I hear, but never try to close the account.
Can someone name a positive thing that has come from a union in the last 50 years?
Great for the DNC!!! I pulled my "little account" from BofA several years ago. If other customers would do the same, we could get rid of the DISGRACEFUL institution from the city of Charlotte and regain some of our "class." BofA is a drag on the city and state of NC. PULL YOUR ACCOUNT, please, TO ONE OF CHARLOTTE'S HOMETOWN BANKS!!!!
This will do nothing but encourage more well deserved protests at the DNC.
From the Tattaglias to the Barzinis...
If Democrats really wanted to play the partisan card with their deposits, they'd put them into credit unions. CUs are diehard supporters of the Democratic party. They certainly throw enough money at (D) candidates — a quarter million to one Congressman alone from the CCUL... and he lost.
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