In the fall of 2007, when the U.S. economy first seemed in peril, I began answering reader queries here on the Business Desk. I still do so occasionally, but this page has expanded to include posts from eminent economists, "far-flung correspondents," and a variety of voices that have intriguing and/or useful things to say about economics, broadly defined. Please feel encouraged to respond to any and all of them.
Question: Just saw your piece on moving money to the "George Bailey Banks" (GBB) and the "Too-Big-To-Fail" (TBTF) banks. I really like my credit union -- I'd like to hear what you think about credit unions versus GBB and TBTF banks. Thanks!
Paul Solman: I like the idea of credit unions: talk about local! And accounts with them are federally insured to the same extent accounts with banks are. In fact, I first tried to move my money to a credit union near my house, but both of those listed on the moveyourmoney.org website had application restrictions that seemed to exclude me. (I didn't work for any of the member companies.)