"The goal of this project is to encourage San Francisco residents, businesses, as well as nonprofit and city agencies to keep their money out of the big banks and to redistribute that money locally. Initial services will include micro-loans for the working poor and homeless, and subsidized student loans at low interest rates." SF Occupy Facebook
EXCERPT: "Jason Macarthur, a protester with Occupy SF, listed the goals that the organization plans to achieve within the first year. That includes starting with 500 members with plans to grow to 2,000 members before the end of next year.
Other plans include:
1. Accumulate capital assets of $7 million or more, through investments by different organizations, members, et al. (How much Soros money are they getting?)
2. Open two credit union branches within the city of San Francisco. The first branch location in the mid-Market Street corridor , in the former Social Security Administration storefront (MOCD) , with the assistance of other local nonprofits. Each branch will have a cafe within it and a commercial kitchen available to rent.
3. The credit union will employ students and homeless, creating 60 part-time jobs.
4. Issue 300 to 500 micro-enterprise loans (max. $5,000).
5. Add 1,000 people overall to the city employment payroll.
6. Finance and start a food co-op large enough to support a neighborhood.
They are going to employ students and homeless here, probably as unqualified to be there as Obama is to be in the WH! Not to mention that having them there as PART-TIMERS means that they DO NOT have to pay benefits! Liberal hypocrisy raises its ugly head...
And when their bad loans, made to morons, don't get paid off, what then? Pull an Air America and take 800K from a children's charity to cover their losses? Hire Jamie Gorelick and Franklin Raines to cook the books like they did at Fannie and Freddie? How are these unqualified idiots going to deal with the Feds, regulators, and the NCUA who oversees credit unions?
And when the piper needs to be paid, will they actually REPOSSESS someone's car, house, or close down a business?