The Nation: Time to Break Up the Banks

[marmar]

Time to Break Up the Banks
posted by Peter Rothberg on 06/04/2009 @ 2:13pm


Last April, I wrote about A New Way Forward, a new and growing movement organized via the web and founded by young people who want to take back the power of the ordinary citizen to affect our economic structure. The organization's coming-out party took place last April 11 with more than sixty coordinated events coast to coast all making the case for alternative bailout plans based on the public's interest.

This new video, which neatly breaks down the causes and effects of the economic crisis, is the basis for the next day of action staged by A New Way Forward.

Watch the video: http://www.thenation.com/blogs/actnow/441050/



Next week on June 10, at small and large events nationwide, there'll be numerous screenings of the video along with panels, workshops, teach-ins, protests and rallies. As the banking industry continues its secret lobbying in DC, A New Way Forward advocates using antitrust laws and competition to limit the influence of big banks and shed light on the shadow banking sector. These events are part of a continuing effort to forge a serious grassroots discussion of the economy ad how to leverage antitrust law toward a more populist bailout. Find an event near you. If there's nothing near you, click here for tips on how to host your own event.

Organizers are planning many different events, from small group house parties to large group public gatherings. In Washington DC, Former Chief Economist of the IMF Simon Johnson will be keynoting what's expected to be a large event in the Gold Room of the Rayburn House Building. The organizers hope to attract citizens with a disparate range of views who will hold one idea in common: our current economic trends must be reversed. Join ANWF's Facebook group for updates, and learn more about the plan for structural change and what we can achieve.



http://www.thenation.com/blogs/actnow/441050/

[keep_it_real]

1. There is a way out of this morass.

The early American colonists found it, and so did Abraham Lincoln and some other national leaders: the government can take back the money-issuing power from the banks.

At one time, the right to issue money was the sovereign right of the king; but that right got usurped by private moneylenders.

http://www.webofdebt.com/excerpts/introduction.php

[Blackhatjack]

2. Sad to say it, But Reform of Congress and campaign contributions will have to lead the way...

I don't think we will ever get the healthcare system we deserve, or the financial/banking system that is open, transparent and fair to all citizens, until we turn off the flow of massive campaign contributions to members of Congress.

Congressional representatives seek campaign contributions with the zeal of a vampire seeking a constant new source of blood.

There is a great need for banks to be broken up and a single payer healthcare system that covers everyone, but it just is not going to happen as long as the millions of $$ flow from those making millions in profits the way the system operates now.

[Wednesdays]

3. K&R

:kick:

[bvar22]

4. "Too Big to Fail" is the problem.

Pouring taxpayer money into "Too Big to Fail" is NOT the solution.

Breaking up "Too Big to Fail" is the solution.

When was the last time you heard a "Democrat" speaking out against "Too Big to Fail"?

[Blue_Tires]

5. i said when it happened

as taxpayers, we would all regret not taking more control over the banks/CC companies when they were hanging on the ledge...not only did we throw them a blank-check lifeline, we have enabled even worse behavior in the future...