“In May, Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS Group AG pled guilty to felonies. Swiss Bank had cooperated with authorities early on, and was ultimately not charged. The banks face collective fines of a little over $5 billion – paltry in relation to the money they handle and the money they manipulated. But while big banks continue to ruin communities and personal lives with light impunity, in some cases the people are fighting back….
“‘The [Santa Cruz] Supervisors can make a strong point and show disapproval with our dollars,’ she [Amanda Robinson, vice chair of the Santa Cruz County Democratic Party] said. ‘We will no longer put up with unethical and illegal banking practices. I hope other cities and counties will follow our lead and remove their monies from banks that don’t benefit local communities.'”