Thursday, April 15, 2010

massachusetts moves state investments out of big banks to protest credit card rates

hell yea massachusetts, now if you could only stop taxing the hell out of everyone in the state, that would help too.

Massachusetts moving money out of 3 big banks to protest credit card rates


Massachusetts officials on Wednesday announced plans to move millions of dollars in state investments out of some of the nation's biggest banks to protest credit card interest rates.

State Treasurer Timothy Cahill said the state has removed Bank of America, Citi and Wells Fargo from a list of institutions approved for new state investments. Massachusetts, which is the only state to make such a move, is also beginning to divest $243 million in funds held at those banks, though the process could take up to six months.

"We want to bring some fairness into the issue," said Cahill, who is running for governor. "I don't think what we're asking is . . . out of line."

full story here
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