Saturday’s march was part of a larger event called “move your money day” or “make Wall Street pay” in which people were encouraged to switch their accounts to credit unions or community banks from national banks.
In Olympia, the event was organized by the Occupy Olympia outreach committee, as well as MoveOn Olympia and Fuse Washington, a progressive advocacy group, said Fuse campaign director Jim Dawson.
Dawson was at the event Saturday as were many others, ranging from students to seniors. The group gathered at Occupy Olympia about 11:30 a.m., then headed to the Bank of America branch on Fifth Avenue and the Chase bank branch on Capitol Way.
Before they left, John MacLean, managing director of Energy Efficiency Finance Corporation of Olympia, addressed the crowd. He spelled out the nation’s recent financial history, which finally led to the economic meltdown of fall 2008. He bemoaned the increased concentration of wealth over the past 30 years and how residents now find themselves beset with mortgages and student loans that can’t be repaid. He called for “economic justice” and pointed out that the study of economics first began as a “moral philosophy.”
“It’s time we took that back,” he said.
MacLean also pointed out the differences between national banks and community banks that have helped the area, such as Olympia Federal Savings and Heritage Bank, two local financial institutions that have “rooted capital in our community.”
“It’s our hearts that need to grow,” he told the audience.
From Occupy Olympia, marchers headed to Bank of America, where people spoke about switching their accounts or cut their Bank of America credit cards in half with scissors.
Jim Packard, 70, of Olympia, said he switched to a credit union after being a member of U.S. Bank and Chase. He said he supports Occupy Olympia and has brought food to the gathering. He also has considered setting up a tent with the others at the site, he said.
“It’s about time people started fighting back,” Packard said.
After Bank of America, the group marched up Capitol Way to the Chase bank branch. More speeches were heard and some cut up their checks.
Bill Rathke, 69, of Allyn, said after his speech that banks such as Chase make way too much money.
“And then they ran the system into failure and we bailed them out,” he said.
Recent consumer sentiment has resulted in a change to some bank policies, such as debit card fees that were proposed by Bank of America, Chase and Wells Fargo.
All three since have dropped plans for the fees.
TWO ARRESTS FRIDAY
Saturday’s activities were preceded by a night of protest staged by Occupy Washington at the Capitol Campus. About 18 State Patrol troopers moved in just before 8 p.m. Friday in sub-40-degree weather and hauled away five small tents. Two men were arrested after they refused to vacate the fifth tent.
They tumbled out on the wet grass as a group of a half-dozen troopers or more grabbed the tent fabric and jerked it into the air. About 20 protesters took part in Friday’s gathering.
Troopers identified the two arrested men as Dean Hobbs, 41, of Olympia, and Zachary Fraser, 20. Both were to be cited for misdemeanor obstruction and given no-trespass orders for the Capitol, Lt. Mark Arras said. They were booked into the Thurston County Jail, then released after 1 a.m. Saturday, according to jail information.
Staff writer Brad Shannon contributed to this report.
Rolf Boone: 360-754-5403
rboone@theolympian.com
www.theolympian.com/bizblog
