The following piece was drafted by John David as a suggestion for correspondence to state and local government officials. Feel free to cut, paste, and edit as desired! Take action and contact your government representatives NOW!
More suggestions for taking action are here.
Bail Out Main Street: Create Public-Benefit Banks
It has become quite clear where the single-minded pursuit of profit for the few gets us… deep in the hole. The deregulation of finance kicked that door wide open. Many of our states and cities are on the edge of bankruptcy, and many more are not far behind. The supremacy of finance’s phantom economy at the expense of the real economy played a central role in the credit crisis ravaging Main Street. Wall Street bankers went wild and got bailed out for their gambling and recklessness by the taxpayers. That was supposed to get the bankers to lend again, but instead they have been buying out smaller banks, putting money away, and paying lavish bonuses to top executives. Failure pays apparently. And they’ve gone back to their gambling fully recharged. Another crash is sure to follow unless we change course. Continue reading