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I cannot understand why anyone would do business with a bank that has been bailed out,especially BOA! I've been using a small town bank for over 15 years for both personal and business. I just recently switched some CD's to a smaller credit union too for the reasons you stated,never put all your eggs in one basket.
Besides,there's still a record number of banks going under that you don't hear about on the news. All the want you to hear is that the recession ended last year!
One of the reason could be that we are so interlocked with the rest of the world and with all the globalization they might be afraid of what the consequences would be. I have thought of that myself and if the idea came to fruitation most likely there would be a crash. On the other hand we could be heading for a crash regardless.
It would be quite ironic that those that have one of the most anti-globalization, anti-Federal Reserve, tar and feather Bernanke rhetoric, deep down are shivering in their boots. Do they not believe nor understand their own rhetoric?
Quote:
Originally Posted by Swingblade
But the idea itself should be attractive to Paul supporters and the other {R}s due to the fact that one of their talking points is "empowering the states " Also it brings in revenue with out taxation, how could they be against that?
Again, this comes back to the question above:Do they not believe nor understand their own rhetoric?
Quote:
Originally Posted by Swingblade
ND bank was rated number 1 in the country and guess what they are really solvent. They also have a nice revenue problem where they might do away with the property tax. There is another point the right should love they are cutting taxes.
"For all the faults, though, protesters in the Bay Area, especially Occupy San Francisco, have something their East Coast neighbors don't: a realistic plan aimed at the heart of banks. The idea could be expanded nationwide to send a message to a compromised Washington and the financial industry.
It's called a municipal bank. Simply put, it would transfer the City of San Francisco's bank accounts—about $2 billion now spread between such banks as Bank of America Corp., UnionBanCal Corp. and Wells Fargo & Co.—into a public bank. That bank would use small local banks to lend to the community.
Backers of the plan aren't using a reckless approach. They're proposing a three- to five-year transition period and the relocation of just $500 million initially. It would be chartered as a credit union, member-owned and insured."
Happy, Greg, reid and the others, I am in agreement that having an alternative is a good idea.
Like Ellen says, the only state that is doing well financially is ND and part of that has to do with its banking system.
I think a state owned bank is also something (at least philosophically) that people across the political spectrum could agree to.
Jazzy, no one is saying to abolish Wall Street and the Federal Reserve, it does has its merits, but given how everything exploded 2 years ago due to a gambling addcition that nearly caused global economic collapse; how Wall Street got bailed to the tune of trillions of tax payer dollars; how the recession is over for many corporates but definitely not for Main Street; then those are pretty strong arguments for us Main Streeters to have an alternative source for credit.
Even though she speaks on the same subject, in each video she gives different details or explains things more clearly than her previous video.
Oh and Greg don't feel bad about not knowing that much about the Fed and economics, not many of our "esteemed" representatives knew what the hell was going on 2 years ago or even today.
well said. In 2008 McCain said the economy was sound two days before Paulson and Bush called the press conference to announce AIG meltdown. lol
Most politicians live in a bubble, they better not start campaigning on "Americans need to tighten their belts", IMO they are fat cats living on WAY too much pork.....Not many of them are "fit and trim"
"For all the faults, though, protesters in the Bay Area, especially Occupy San Francisco, have something their East Coast neighbors don't: a realistic plan aimed at the heart of banks. The idea could be expanded nationwide to send a message to a compromised Washington and the financial industry.
It's called a municipal bank. Simply put, it would transfer the City of San Francisco's bank accounts—about $2 billion now spread between such banks as Bank of America Corp., UnionBanCal Corp. and Wells Fargo & Co.—into a public bank. That bank would use small local banks to lend to the community.
Backers of the plan aren't using a reckless approach. They're proposing a three- to five-year transition period and the relocation of just $500 million initially. It would be chartered as a credit union, member-owned and insured."
just found your thread again, thank you for proving what I have sensed MSM is covering up for banksters and as usual some Americans are in denial...want to pretend the "system" still works.
I for one dont want to retire in 20 years to find the 401k as been raped and pillaged by Congress and bankster collusion.
Its a "bad moon rising " indeed. The state I am in continues to build big box malls and create cheap retail jobs, and that's it. I saw this happening in So. Florida 9 years ago....
Big investment banks(Wells fargo sux as well), need to be out of the mortage and housing markets.
Until I see a politician (like paul) who gives Americans credit for intelligence and are for reigning in Wall Street, I doubt I will vote ever again. I am Indep. and disgusted by cronyism and propaganda from Congress.
Thanks for your informative posts..hope some Americans will eventuall face facts in 2012 and stop voting (R) or (D). The two party system is corrupt and broken.
The 2008 election had as its main underlying issue the question of race.
The 2010 & 2012 elections undercurrent will be all about class.
I'm proud of the decision the majority of us made when it came to the '08 election.
I hope the majority of Americans can come out of their denial that we have a serious class problem in the United States and we must passionatelyANDrationally learn how to work across our differences to come up with effective solutions to the nation's problems.
I say lock up Denny, Ron Paul, Barney & Grayson in a room for as long as it takes for them to formulate real financial, health and MOST IMPORTANTLY, campaign finance reform.
Here is another series of videos by Ellen. It is a 5 part series that you can follow on youtube.
Enjoy.
Campaign finance reform is key also. Right now we have JPMorgan Chases bought and paid for candidates, (D) or (R). Worst housing market since 1930 Depression.
Lot's of smoke and mirrors here. I'm not sure I would describe requiring people to pay their bills as "predatory banking".
What's really smoke and mirrors is that not only did gambling addicts nearly caused the greatest economic catastrophe since the Great Depression, but those that attack attempts to create an alternative banking system to the Too Big To Fail oligopoly that currently rules the world.
And yes, gambling addicts who refuse to pay their own bills, by taking trillion dollar, tax payer backed bailouts to cover their habit, while hypocritically preaching fiscal conservatism most certainly ARE predatory bankers.
Jeez, some people can't seem to get their heads out of their deluded, fantasy world.
Quote:
Originally Posted by dreamofmonterey
well said. In 2008 McCain said the economy was sound two days before Paulson and Bush called the press conference to announce AIG meltdown. lol
Most politicians live in a bubble, they better not start campaigning on "Americans need to tighten their belts", IMO they are fat cats living on WAY too much pork.....Not many of them are "fit and trim"
Our system of elections is basically a system of legalized bribery.
Our gov't is up for sale to the highest bidder, and it'll will take systematic reforms to change all of this.
"North Dakota has had a state-owned bank since 1919, along with a state-owned granary.
The Bank of North Dakota (BND) has been operating successfully ever since, serving largely as a “banker’s bank” and “mini-Federal Reserve” within the state."
just found your thread again, thank you for proving what I have sensed MSM is covering up for banksters and as usual some Americans are in denial...want to pretend the "system" still works.
I for one dont want to retire in 20 years to find the 401k as been raped and pillaged by Congress and bankster collusion.
I am Indep. and disgusted by cronyism and propaganda from Congress.
Thanks for your informative posts..hope some Americans will eventuall face facts in 2012 and stop voting (R) or (D). The two party system is corrupt and broken.
"Well, we’ve had, since the beginning part of the century in North Dakota, a state-owned bank, highly successful. The press doesn’t cover it. But it’s a bank that exists just like other banks, but it doesn’t speculate. It doesn’t use money to do what the Wall Street banks are doing. And as I say, there are about 14 states that have introduced legislation to reproduce that, help finance small business, on the one hand, but co-ops and worker-owned firms, and most of this with a real green edge to it, ecologically developed. And in these city banks, the same thing, trying to focus—for instance, in San Francisco, there’s about $2 billion in state—in city money, that’s taxpayer money. Instead of putting it in the Bank of America, the proposal is put it in a city bank or a city credit union and then use that to finance development in the city.
Changes of major kinds, if you look at decade-by-decade development, fundamental systemic change is as common as grass in world history. A lot of pain. But I think an America beyond capitalism is a real possibility. Again, if you stand back, the way the civil rights folks did—my heroes are the civil rights leaders in the 1930s and '40s, the ones who laid the basis for the big change that came in the ’60s, and I think that's the way to understand what’s going on at the grassroots level and the sort of things that Occupation has been teaching us. Get in there now and begin to develop that base and that foundation for the transformation."
"A long era of economic stagnation could well lead to a profound national debate about an America that is dominated neither by giant corporations nor by socialist bureaucrats. It would be a fitting next direction for a troubled nation that has long styled itself as of, by and for the people."
Enjoy.
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Say no to bankster fraud.
lol
