K&R for bank nationalization and democratic control of banking

[Ken Burch]

the last president had a famous line about letting the people, rather than the government, keep their money. We can turn that around and say, "let the people, NOT THE BANKS, keep control of our savings! Let the people, NOT THE BANKS, decide what the funds in those accounts are invested in. It's OUR money!"

There's no good reason to leave the status quo in place. Democratic control of investment IS "change we can believe in". And we can make it happen if we build enough support for it!.

This is our moment, campers! Let's seize it!

[Renew Deal]

1. I oppose permanent nationalization of banks and most other non-essential services

The government shouldn't be running banks, insurance companies, car companies, etc. It's un-democratic, un-american, and anti-competitive. It would be worse for people in the long run.

[Ken Burch]

2. It's only undemocratic if the management methods used are undemocratic

All you have to have to make it democratic is elections for the management of the banks.

We can't just leave the money in the hands of the moneygrubbers anymore. It needs to be controlled by the people.

[RepublicanElephant]

7. vulture capitalism is un-democratic, un-american, and anti-competitive. nt

[cliffordu]

12. LOL.

[PBS Poll-435]

3. Nah

:thumbsdown:

Regulate the shit out of them, but don't wipe out the value pension/401(k)/403(b)/IRA funds by making the common stocks of bank holding companies worthless.

[DJ13]

4. Im all for it

Its about time we restructure the for profit layer of our financial system.

Theres no reason a corporate bank should get money from the Fed at 0% then demand 30% interest on credit cards.

[Avalux]

5. I can agree with that. Temporarily.

Once the banking system is restructured and corrected; then sell. Worked for Sweden.

[dkf]

6. Sounds like you are advocating credit unions?

That is where I bank.

[crimsonblue]

8. No thanks.

[Ken Burch]

14. All bank nationalization and democratic control of bank investments means is that the people have

the say. Why would you not want that?

There's nothing to fear from not being powerless.

[crimsonblue]

15. I don't mind if the government has equity stakes in banks

but the government shouldn't be making banking decisions. If you want to dissuade or persuade a certain activity, regulations are the route to follow. Speaking of which, credit unions and investment banks need to outlawed, and every institution involved in the depositing, loaning, or investing of money should be regulated as a standard commercial bank. If we did that, we'd never have this sort of economic problem again.

[Ken Burch]

20. What I'm saying is, that if we had ELECTED boards deciding democratically and transparently

what was do be done with investments, whether socially responsible investment practices would be applied, whether or not to go with risky short-term investments that only benefit ceo's rather than long-term investment that benefits all, that wouldn't be "the government" making the decisions.

I'm as anti-bureaucracy as you are. It doesn't have to be a choice between a commissar or Gordon Gekko. There are other ways to run things.

[Runcible Spoon]

9. Likely the only option drastic enough to prevent total dissolution of the banks

I find it fitting that Bush admin said that about government vs. people. Actually, the government IS the people, well at least in theory lol. I'm sure he expected us to feel better about getting robbed blind by the private yet still somehow subsidized banking industry. If we're gonna get bilked, might as well cut out the middle man.

[Laelth]

10. k&r. n/t

The United States is a LIBERAL Country.

:dem:

-Laelth

[Occam Bandage]

11. I hear that if this thread gets 200 recs, Obama will do it. nt

[Ken Burch]

13. Well, given that you dismiss any attempt on the part of rank-and-file Dems to influence policy from

below, it's not surprising that you'd yet again dismiss another attempt to do so. You basically think we should leave it all to Rahm and "know our place".

[Occam Bandage]

16. No. I dismiss the possibility that K&R threads do anything but stroke egos.

You'll not note me saying similar in "call congress" threads. Those actually do something.

[Ken Burch]

19. It's about starting to build grassroots support for something.

These threads can lead to further action by demonstrating at least a base level of support for something.

If you don't approve of "K&R" threads, it's enough that you don't have to participate in them. Dismissing what other people do serves no purpose.

[Joe the Revelator]

17. No thanks

[regnaD kciN]

18. Here you go...

:kick:

[Ken Burch]

21. thanks

n/t.