We need to get rid of the big banks.

[WT Fuheck]

It's either them or us.

[AllentownJake]

1. They made their choice in October of 2008

It wasn't us.

[WT Fuheck]

4. here's a good list to start with...

30 largest US banks

[dkf]

2. If you dont want to deal with big banks then stop using them.

[WT Fuheck]

3. I'm not talking about me dealing with them or not dealing with them.

I don't.

I said "we" for a reason.

[HughMoran]

7. lol

I love when people boil it down to the lowest common denominator in just one sentence :rofl:

[rucky]

15. We're small potatoes.

The fee income they get from us is just gravy to them.

[Greyhound]

5. Lord Acton said it a hundred years ago,

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."

Rothschild told us what we are facing today when he made the quote in my sig line.

Once we alleviate our national cranial-rectal inversion syndrome, we can get around to taking back our power, until then, we are, and will remain, screwed.

[WT Fuheck]

23. when will we ever learn?

[CountAllVotes]

6. my credit union is offering me 3.75% to renew my CD

I'm wondering if I should or not. Have spent most of this evening looking around on the www and I cannot find a rate any better than 3.75% for a 5-year CD.

It seems pathetic to me that that is the best I can find. The big banks have driven us all into a deep hole of debt that 3.75% isn't going to bail anyone out of.

So much for the savers in our society.

I think the game is that the big banks want to force us all to either settle for ultra-low rates (like 2% for a CD) or stick it in the stock market.

Seems like this is a replay of what we just went through doesn't it? :think:

I am thoroughly disgusted as this is THE BEST I can come up with?!

Seems the big banks win huh? The credit unions are not too far behind it seems to me sadly. :(

Ah what to do? *sigh*


:dem:

[CaliforniaPeggy]

8. I say support your local credit union!

If you allow them to pay you that low rate now, maybe later on they'll be able to pay you more.

Unless I don't understand how they work, which is very likely.

:hi:

[WT Fuheck]

21. local credit unions.

[Double T]

9. I believe ALL US banks should be nationalized ...........

to provide reasonable interest rates for personal loans and credit cards; etc., etc., etc. The 'Free Market Capitalism' wall street banks that we all just bailed out need to be shutdown and liquidated.

[Vidar]

10. Amen to that!

[laughingliberal]

11. It starts with us. Starve the beast

If you must have an account open it at community banks or credit unions. I keep one small account now that my car insurance is automatically deducted from. I deposit enough to cover that and about $25 extra dollars per month. For other bills that I pay by phone or online I use a preloaded debit card. No chance of overdraft, no big bank getting the money. For everything else, there's cash.

[Ken Burch]

12. Nationalize them and put them under democratic management and control

With full transparency and the Swedish salary ratio rule for the executives.

Also, make social responsibility and sustainable economics part of the bank charters once nationalized.

[cali]

13. regulate the fuck out of them.

[Laelth]

14. Hear, hear! k&r n/t

:dem:

-Laelth

[KharmaTrain]

16. So We Keep Money In Our Mattresses?

So what would you replace banks with? Let the government be the banker? Ya sure you want that?

As others on this thread have said, the problem is regulation and enforcement. For millions banks provide their lifelines...the interest on their retirement accounts. What would you suggest these people do to find a way to earn money on their hard-earned money? Of is this another re-distribute the wealth thing. Good luck with that.

[fasttense]

18. I agree, we can't get rid of the banks but we can get rid of their profits off our government.

As the system works now, the government gives the banks money and when the banks lend that money, money is created. The banks make profit from the difference between what the Fed charges on the money it gives the banks and what the banks charge us. The banks also make money by borrowing from the Fed (at near zero interest) and then loaning the money back to the Fed at higher interest. It's more convoluted than this in reality but that is the basic design.

So instead of giving money to banks and loaning it into existence, we should give every man and woman (upon turning legal age) an amount of money that they would be required to put in a bank (or other finical institution) of their choice. Then go from there. That way banks do not control our money supply, they would merely store our money for us. We the people would be in control of our money. If the government needed more money out in the streets, they would merely give the additional supply to the citizens through the bank they chose.

[KharmaTrain]

19. But Where Does That Money Come From?

There's a long time con game going on between the banks and the government, but it doesn't have to do with consumer lending...it's been the long-term debt. For decades the government has borrowed from major lenders...paying more and more interest and rarely ever biting into the principal. The last person to do it was President Clinton when he reduced the defecit, but that went to hell the moment the booosh regime took power.

When it comes to the money the fed lends to banks, that money does come back. It does so in creating jobs that mean greater income taxes. It also enhances retail spending that means more retail taxes...plus the more money more people have the more revenues the government pulls in via taxes. Our system was thrown out of whack with boooshie's tax cuts for the rich that not only put the tax burden on the middle class (with devestating affects) as it did to many state budgets that saw less revenues.

Giving money away sounds sweet until you look at what that would do to the consumer economy...it would set off rampant inflation as the more money out there, the less the currency is worth. Soon a $10 six pack goes for $1,000. I'd prefer money lended to small and medium-sized businesse that will generate jobs and revitalize the country and the middle class.

The government by it's own design is a corporation and it is and always has been linked to the banking and economic sector. The best scenario is a balance between the two...the government, through regulation, preventing predatory lending (where the obscene profits come from) and in lending directly to individuals for homes (FHA) or business.

The government once tried being a banker...it was the original Bank of America. It failed miserably.

Cheers...

[clear eye]

22. And the Wall Street bailout had NOTHING to do w/ the gov't debt? n/t

[WT Fuheck]

20. read more carefully. I said "big banks."

I posted a list of the 30 largest. That would be a good start. Make banks remain local.

Regulation of institutions the size of the top tier of international banks is an illusion.

Mattresses would be a HUGE improvement, socially and financially, over Goldman Sachs, Citicorpo, et al.

[Echo In Light]

17. K&R

[Odin2005]

24. IMO most large corporations need to be broken up.

Economy of scale is becoming irrelevant as technology improves.