Image provided by: University of Oregon Libraries; Eugene, OR
About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (Dec. 28, 2011)
®'* $lortlanb (Dbserucr Page 6 December 28, 2011 Opinion articles do not necessarily represent the views o f the Portland Observer. We welcome reader essays, photos and story ideas. Submit to news@portlandobserver.com. New Prices Effective May 1 ,2 0 1 0 Martin Cleaning Service Carpet & Upholstery Cleaning Residential & Commercial Services Minimum Service CHG. $45.00 A sm all distance/travel charge m ay be applied C A R PE T CLEAN IN G 2 Cleaning Areas or more $30.00 Each Area Pre-Spray Traffic Areas (Includes: 1 small Hallway) 1 Cleaning Area (only) $40.00 Includes Pre-Spray Traffic Area (Hallway Extra) Stairs (12-16 stairs - With Other Services): $25.00 Area/Oriental Rugs: $25.00 Minimum Area/Oriental Rugs ( Wool): $40.00 Minimum Heavily Soiled Area: Additional $ 10.00 each area (Requiring Extensive Pie-Spraying) U PH O LSTERY C LE A N IN G Sofa: $69.00 Loveseat: $49.00 Sectional: $ 109 - $ 139 Chair or Recliner $25 - $49 Throw Pillows (With th * Other Services): $5.00 % A D D ITIO N A L SE R V IC E S • Area & Oriental Rug Cleaning • Auto/Boat/RV Cleaning • Deodorizing & Pet Odor Treatment • Spot & Stain Removal Service • Scotchguard Protection • Minor Water Damage Services SEE CURRENT FLYER FOR ADDITIONAL PRICES & SERVICES Call for Appointment (503) 281-3949 MHMMHMI Move Your Money to a Better Bank One that invests in the local community energy projects that are polluting our environm ent, or helping a co r poration m ove jo b s into over seas sw eatshop factories. It's in the C E O bonus, and the C FO bonus, and a hundred by A ndrew K orfhage o th ers." D uring a key scene in As O ccupy W all Street the classic holiday film It's and related protests grew this A W onderful Life, savings- fall, an g er at the giant banks and-loan proprietor G eorge Bailey, rightfully sw elled as w ell, w ith a played by Jimmy Stewart, memorably "B ank T ran sfer Day" declared for explains to the tow nspeople how his pulling m oney out o f the big banks business w orks - that he's not sitting and m oving to sm aller local banks on piles o f m oney ju st because he and credit unions. runs a small, local bank. But not every new s story co v er " Y our m oney's not h ere," G eorge ing this issue took note o f the finan tells the crow d. "It's in the K ennedy cial institutions specially designed house, and the M acL aren house, to play a positive role in local co m and a hundred others. Y ou all put m unities. your savings in here, and then we C om m unity developm ent banks m ake loans to people to buy hom es, and credit unions — collectively and cars and other things." called C D FIs for "com m unity devel A las, w hen you save or invest in opm ent financial institutions" — big corporate banks in the 21 st c en direct their lending tow ard those tury, the bank isn't likely to explain w ho have been overlooked by co n to you, G eorge-B ailey-style, how ventional lenders. your m oney is going to w ork in the Unlike the conventional banks that world. Im agine w hat it w ould be like contributed to the 2008 global eco if they w ould. nom ic crisis by lending out billions in " Y our m oney's not here," the bank unsound and predatory subprim e m ight say. "It's financing fossil-fuel m o rtg a g e s th a t th e ir b o rro w e rs ^ ÿ lo r tla n b (Dbseruer Established 1970 USPS 959-680 _______________________________ 47 47 NE Martin Luther King, Jr. Blvd., Portland, OR 97211 Charles H. Washington EDiTOR.Michael L eighton D istribution M anager : M ark W ashington C reative D irector : P aul N e u feld t E ditok - in -C h ief , P ublisher : couldn't repay, C D FIs take pride in their expertise with lower-income bor rowers. They take the time to get to know their clients, determ ining what h o m eo w n ers and sm all-b u sin ess ow ners can actually afford. W ith m ore o f a com m unity focus, these financial institutions pursue reasonable, rather than excessive, rates o f return. T hey target projects that lift up underserved co m m u n i ties, and boost local econom ies by financing sm all businesses that p er form vital local services. By c o n tra s t, th e N ew R u le s Project reported in 2010 that the 20 biggest banks "devote only 18 o f their com m ercial loan portfolios to sm all business," despite the clear need to spur sm all-business grow th to ju m p -start o ur econom y. W here are the big banks d irect ing all their m oney if they're not supporting sm all businesses? For one thing, m ega-bank C E O s as a group have seen their pay skyrocket back to 2008 levels and higher. The Financial T im es reports that big- bank C E O pay rose 36 percent in 2010, w hile average w orkers in p ri vate industry saw their pay rise only tw o percent. If you'd rath er see y o ur banking and in v estm en t d o llars going to im p ro v e y o u r o w n c o m m u n ity , rather than lining the pockets o f C EO s or financing projects that don't m atch y o u r values, there's an easy s o lu tio n . W h en y o u p u ll y o u r m oney out o f y o u r m ega-bank and start banking w ith the com m unity banks and credit unions, y our old bank will hear your voice even louder and clearer than if you w ere stand ing on W all Street w ith a bullhorn. A nd you'll be jo in in g a grow ing m ovem ent. Funds invested in C D FIs grew from $5 billion in assets to nearly $40 billion o v er the last d e cade. Y ou can find lists o f banks and cred it u nions m ain tain ed by the C om m unity D evelopm ent B ankers' A ssociation and the F ederation o f C om m u n ity D ev elo p m ent C redit U nions at cdcu.coop. Y ou can use these resources to find your ow n local "George Bailey," and m ake a N ew Y ear's resolution to m ake your banking part o f the solu tion, rath er than part o f the problem . Andrew Korfhage is an online and special projects editor fo r Green America. The Portland Observer welcomes freelance submissions. Manuscripts and photographs should be clearly labeled and will be returned if accompanied by a self addressed envelope. All created design display ads become the sole property of the newspaper and cannot be used in other publications or personal usage without the written consent of the general manager, unless the client has purchased the composition of such ad. © 2008 THE PORTLAND OBSERVER. ALL RIGHTS RESERVED, REPRODUCTION IN WHOLE OR IN PART WITHOUT PERMISSION IS PROHIBITED. The Portland Observer-Oregon's Oldest Multicultural Puhlica- tion-is a member of the National Newspaper Association-Founded in 1885, and The National Advertising Representative Amalgamated Publishers. Inc. New York. NY. and The West Coast Black Publishers Association C A LL 5 0 3 -2 8 8 -0 0 3 3 F A X 5 0 3 -2 8 8 -0 0 1 5 news @portlandobserver, com ads@Dortlandobserver, com snbscnption@oortlandobserver.com P ostmaster : Send address changes to Portland Observer, PO Box 313 7, Portland, 0R97208
