We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Sunday, March 24, 2013

Banks versus the People: the Underside of a Rigged Game! (Part 7) The Mockery of Banking Discipline

Click here to access article by Éric Toussaint from the Committee for the Abolition of Third World Debt. 

Letting bankers police themselves in order to prevent economic crises is very much like letting foxes guard the hen-house. This is essentially the conclusion reached by this author as spelled out in his final paragraph after a piercing analysis of the various anemic proposals put forth by agents of the gargantuan banking institutions who now rule the world. His final sentence contains a heretical, but obvious recommendation:
Since banks use our money, enjoy state guarantees, and must provide the fundamental services society needs they must be socialised and placed under citizen’s control.
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