The Taser's Edge


OWS, Bank Transfer Day, and Christian Discipleship

Today, as you may already be aware, is Bank Transfer Day, a day to organize people to move their money from the mega-banks to local banks and especially to credit unions, with the hope that it spurs financial reforms in those big banks. The actual “day” parallels the Occupy Wall Street movement, but there are plenty of people fed up with American banking-as-usual who have no sympathy for OWS protesters.

For me, having moved from Bank of America to Central Illinois Credit Union here in Champaigna couple months ago, I am glad it’s happening. I indeed hope that there is enough momentum away from the big five banks to force some self-regulation, as the government continues to show little interest in enforcing existing regulations or in crafting smarter regulations. At the same time, statistically speaking (in terms of both numbers of accounts and especially in terms of the amount of capital shifting) there is no reason that an unbelievably popular Bank Transfer Day will have any effect, unless it makes the big banks feel “guilty,” and by “guilty” I mean “scrutinized” or at least “in the spotlight.”

Bank Transfer Day was designed to be a populist event where even people who would never march with a sign might finally follow through on doing something about their annoyance with talking to telephone-answering-robots about little-published fees on their bank statements. However, it will have no long-term impact on the economic systems which caused the current global recession.

That is, it will have no impact in itself. It must be part of a larger reformation, and, as yet, there is no evidence that there is a reformation to come.

For Christians, there is a larger context for understanding Bank Transfer Day and larger economic reforms: the life of God in Christ and the coming of the Kingdom which Christ proclaimed. The Christian God has Justice as a quality of character. Justice, therefore, is not and cannot be an abstraction for Christians to talk about in philosophy classes or election seasons or populist movements or angry Facebook back-and-forths alone. This is because the question, “What is justice?” is one way of asking, “Who is God?”

Continue reading