Blog Flux Directory Subscribe in NewsGator Online Subscribe with Bloglines Blog directory
And, yes, I DO take it personally: Large private banks no longer deserve public trust
Mandy: Great blog!
Mark: Thanks to all the contributors on this blog. When I want to get information on the events that really matter, I come here.
Penny: I'm glad I found your blog (from a comment on Think Progress), it's comprehensive and very insightful.
Eric: Nice site....I enjoyed it and will be back.
nora kelly: I enjoy your site. Keep it up! I particularly like your insights on Latin America.
Alison: Loquacious as ever with a touch of elegance -- & right on target as usual!
"Everybody's worried about stopping terrorism. Well, there's a really easy way: stop participating in it."
- Noam Chomsky
Send tips and other comments to: /* ---- overrides for post page ---- */ .post { padding: 0; border: none; }

Wednesday, December 14, 2011

Large private banks no longer deserve public trust

more like this...
[L]arge-scale global banking cannot safely be entrusted to private banks. Their behavior yields socially unacceptable costs. They failed their fiduciary duties, betraying both public and private trust. Their continued existence imposes equally unacceptable risks. Modern societies do not leave military security to private armies, nor education to private schools, nor ports, harbors and transportation systems to private conveyors, nor control of the money supply to private banks. Governments, enterprises and households have now become dependent on credit in most advanced industrial economies. The extension of credit ought to be as equally socialised as dependence on credit has become.

when will the failures be prosecuted...?

Labels: , , , ,

Submit To Propeller

And, yes, I DO take it personally home page