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Ethical Banking: could this be a sustainable future?

I recently discovered the term of Ethical Banking. I also discovered that this term is not new.
These kind of Banks claim to be sustainable and social and environmentally responsible in the financial sector.
They claim that Ethical banking can positively impact societies worldwide because it does not help to fund companies that deal in morally questionable businesses.
The also claim that you gain more control of how and where your bank invests its money and you are safe in the knowledge that your money will not be used by businesses which have a negative impact on the world.
Traditional Banks seem to have failed providing a secure investment or saving account to the customers. Cyprus is an example.

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  • Jul 4 2013: Ethical banking has always been available
    but it will never be availed of.

    Ethical behavior has always been available, but rarely availed of.
    So the answer is no, because banking is a cause or reason for unethical behavior, meaning corruption, greed, crime and all the collateral damage they inflict, such as inequality, poverty, slavery and the tempting investments they use to entice those who have become corrupted (in order to be successful in banking), into investments such as war and death.

    Thus, they are the default corrupt foundation of the monetary system which makes it unjust and it can never be made just. You simply will not get it by thinking or saying, "what we need are ethical leaders, bankers, etc. You're not going to get them!
    It has to be done away with and a new, just system created, installed and implemented that does not contain the causes or reasons for becoming corrupt, or behaving unethically.

    Sadly, all the fighting for freedom going on around the world is the worlds way of saying to America, "you are the leaders, or once were, of and for freedom, and we are revolting to show you what it is you need to do and how to do it, so get to it!" But, it is now the country of American'ts and it appears they won't do anything except invade more countries and threaten more countries just like they are doing in the Edward Snowden case.

    Those who are brave and fighting Imperialism, like unethical banking, are being threatened not to help him.

    It is not sustainable except for those who have the false power the people foolishly believe in and give to them.
    People don't work for money. They work for the resources of the earth they need to live.
    If money was gone, they would still perform what is that is necessary to have those resources for everyone.
    Corporations want to make corps into a "person" entity. Well, the people who work in them, are the corporation. Do what you do for all people, not for an elite few.
    What we work for is what we all give to us.
  • Jul 3 2013: I think that Ethical Banking has been available for a long time.

    When I was a young man, a boss of mine said that he always banks with a small local bank, and carefully avoided advising me to do the same. I followed his example for the most part. I now have my checking account with a local Credit Union. Unfortunately my mortgage was sold to a major national bank. I applied for my credit card at the credit union, but the bills come from some national organization; and since the payments are sent there, I suspect that they are also benefiting from any interest I pay.

    Unfortunately, the vast majority of people seem to bank with major national banks, presumably by choice. I think most bank customers just prefer the better monetary benefits and services available from the big banks.

    I suppose it is possible that Ethical Banking will become more popular. I heard a story on the radio that eggs from cage-free chickens get twice the price of the common commercial eggs. Values are slowly changing, and we seem to be heading in the right direction.
  • Jul 4 2013: Let's look at Cyprus. In my opinion. the economic crisis in Cyprus is not due the "unethical" banking. On the contrary, the economic problem was due to the "ethical" spending from government welfare, and then the government asked the banks to issue bonds to finance the debt for such spending. Most of the bank loans from the banks were made to the tourist industries AND THE GOVERNMENT. Can you estimate what proportion of the Cyprus banks money was loaned to those "businesses" which have a negative impact on the world? Remember, the Russian gambling casinos were the depositors, not the borrowers, to the Cyprus banks.
  • Jul 4 2013: Money doesn't solve our problems.
    Money blocks us from solving our problems.
    Without money, humans would solve their problems.
    That is what humans do.

    Things don't........."get done"...........because of money.
    Things............."don't get done".......because of money.

    Nothing costs money.
    Everything costs people.
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    Jul 4 2013: they say, if it is not broken, don't fix it. these banks elevated the problem to a new level: they fix what is not broken, and they leave what is broken, broken.

    banks are the hands of the state in its attempt to control and manipulate the money supply. they do that using the fractional reserve system. the money they lend don't exist. their promises to depositors are empty and impossible to meet. their core functions are unethical.

    and they try to market themselves as ethical for not funding oil drilling.
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    Jul 4 2013: Can't say back to BASICs...... So saying Journey to ETHICS :) . It's big a topic of discussion in other businesses for sometime ...... To bring ETHICS in real term we need to change our current greed based model . How ? I don't know :(
    Otherwise an ethical bank can be easy prey of any other big traditional banks by being bought or merged with .
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    Jul 4 2013: The only time banking becomes unethical is when it is connected to the goverment in the sense that there is cronyism.

    A lot of small banks went out of business in the great recession about 500 since 2006

    I agree with Barry about local banks