Tell the Bankers that the People are Too Big To Fail
Posted 10 years ago on May 15, 2013, 10:21 a.m. EST by OccupyWallSt
Tags: direct action, foreclosure defense, occupy homes
May 20th: Day of Action
Homeowners VS. Banking Execs
Showdown at the Department of Justice
Too Big to Fail, Too Big to Jail?
Millions of underwater homeowners have paid the price for Wall Street's crimes. From mortgage fraud to predatory lending, it's time to put bankers in jail.
Join Occupy Homes, dozens of underwater homeowners, and hundreds of allies from across the country as we take action and risk arrest at the Department of Justice.
Bring Justice to Justice Rally: May 20th @ 1pm Gather: Freedom Plaza, 14th Street and Pennsylvania Ave NW – March to Department of Justice @ 1:30pm
With Occupy Homes, Home Defenders League, Campaign for a Fair Settlement, and community and faith leaders
Five years after Wall Street crashed the economy, not one banker has been prosecuted for the reckless and fraudulent practices that cost millions of Americans their jobs, threw our cities and schools into crisis, and left families and communities ravaged by a foreclosure crisis and epidemic of underwater mortgages.
Record profits are back at the bailed-out banks. Meanwhile:
Homeowners and communities have lost billions to Wall Street’s foreclosure crisis;
Millions more families face foreclosure in the coming months;
Communities of color have been impacted the most.
This March, U.S. Attorney General Eric Holder, testifying before a U.S. Senate committee, admitted that big banks and their executives have escaped prosecution simply because they are too wealthy and powerful. "Too big to fail” banks are officially “too big to jail."
The time is now for Congress and the Obama administration to make Wall Street pay us back:
Prosecute Wall Street bankers for stealing our homes, savings and livelihoods;
End the foreclosure crisis;
Reset mortgages to their current value (“principal reduction”);
Restore and rebuild wealth stolen from communities of color hardest hit.
Since the crisis began, Americans from all walks of life have banded together to help each other. Working through community organizations, civil rights groups, the Occupy movement, and community and faith leaders, we have shared our stories, lobbied, petitioned, and even faced arrest for occupying our own homes and demanding justice.
During the Wall Street Accountability Week of Action in Washington, D.C., May 18-23, families on the front line of the foreclosure crisis will travel from around the country to Washington, D.C., to make their voices heard. The week will include community organizing, home-defense training, and non-violence and civil-disobedience training.
On Monday, May 20, at 1:00pm, home defenders, as well as faith and community leaders will rally to Bring Justice to Justice – demanding an end to the “too big to jail” policy, and relief for families and communities devastated by the financial crisis and foreclosure epidemic.
This compilation of people calling to end "too big to fail"—including Elizabeth Warren, Bernie Sanders, Nassim Taleb, Neil Barofsky, Bill Moyers, and many others—parallels this post.
Time to end "too big to fail."
Why Public Banking ?
''Public banking frees the credit potential of public revenues and then harnesses this public wealth to create sustainable, abundant and affordable credit. This credit -- our credit -- supports our economy and citizens if it is then used to build economic capacity (think renewable energy, sustainable agriculture, etc. -- things that private banks do not fund).'' from :
http://publicbankinginstitute.org/ & ...
radix omnium malorum est cupiditas ...
Well lots of Industry has been created in the US (since we have so much money). AND we enable the "Influence of Money" (spending of money) by allowing unlimited executive compensation without effect or notice by Corporate Ratings Agencies. We enable the "Gaming" of Income Tax, Corporate Tax, Lobbying, and Capture of our Institutions by allowing unlimited write off of Wages & Compensation of Lawyers, Lobbyists, Financial Managers, and Accountants.
• Let's Impose a Tax on the number of nonproductive employees that "Game" the System and or the Contract Money spent to "Game" the system. Lawyers, Lobbyists, Financial Managers, and Accountants.
• Or let's put restrictions & Ceilings on the total number of employees as a percentage of productive activity within an organization Lawyers, Lobbyists, Financial Managers, and Accountants.
• Or let's put restrictions on the total resources and or employees put on in corporate civil lawsuits, fighting the SEC or Regulators, or Criminal Prosecution against the company, either defensive or offensive ... as these tie up the court system, strain public resource, cost public money ... and they can be a huge advantage in Courts, Federal or State Courts ... one way might be a Tax, maybe a Ceiling on Total Employees or Dollars Spent, or Prohibit the Write off of Taxes through Claim of Normal Expenses to come out of Revenues.
• Everyone knows we should Reform the Corporate Ratings Agencies. Remember when the United Way or March of Dimes had the Scandal in the 1970s for having huge over 60% Administrative Costs. And that was a Charity.
• Now the Ratings Agencies sell ratings to corporations. If we take away the ability to sell ratings... or take away the ability of organizations to give money (of any kind) to the organizations that Rating them... then let's Rate Corporations, Bonds, Stocks, by including demerits/disincentives for having shell companies, off shore headquarters, ... complicated organizations to avoid taxes, ... and having TOO MUCH Overhead to Game the System, Too Much Compensation for Executives, having over 50:1 ratio for CEO to worker compensation, ... and having little Transparency
• Actually if we limit the Amount of Corporate Money Spent on Overhead, Improved the transparency, and Standardized Accounting Rules ... I would say Investors would be happier and wealthier. All of the money Spent to "Game the System" comes out of Profits that would go to Investors. It is a more conservative or progressive Business Practice to limit Overhead or Rate the Investment lower as a Result of Free Spending on Overhead and Strategic Positioning.
Well, Let's hear some Solutions. I'm sure someone is reading these posts for solutions
I am an italian homeowener. Lawyers of an italian bank (Sicilcassa S.p.a.) that is supervised by Bankitalia, taking advantage of a trivial mistake, want to seize an house to the owner who has never contracted debts. my case bureaucratic and legal, considered by many Kafkaesque, in reality it becomes Kafkaesque were the actions of some legal, bad faith, and perhaps the lack of specific laws. It 's absurd that a bank (Sicilcassa S.p.A.) to take advantage of a simple mistake in the notarial deed of my apartment (cadastral sheets reversed with those of an adjoining apartment) to make me lugging the debt contracted by another guy and take the opportunity to seize the my house. Sicilcassa forced me to enter into a civil suit (useless) the times and uncertain outcomes that, in fact, at the moment, they have the power to stop me from selling my property. I have never contracted debts with Sicilcassa. The absurd story I have published and legally documented on this link: http://t.co/DhJ2biB2f7
Three articles below can help people better understand economics and why cooperatives are a better option than current capitalism (Monopoly)
The Causes Of Poverty http://www.c4ej.com/resources/the-causes-of-poverty
Monopoly Is Theft http://harpers.org/blog/2012/10/monopoly-is-theft/?single=1 October 19, 2012, 2:52 pm By Christopher Ketcham
There's a recent TEDx talk about the history of Monopoly as a projection of the capitalistic system we have now, and how people around the world are working to make the economy more fair and equitable. A board game, Co-opoly, was created as the antidote to Monopoly's principles of crushing opponents until they are debt-ridden and defeated, and shows people how working together creates a better economy for their communities. http://store.toolboxfored.org/co-opoly-the-game-of-co-operatives/
The ten reasons co-op rock are (with some slight variations to fit the poster): http://store.toolboxfored.org/10-reasons-co-ops-rock-poster/
1.Cooperatives are democratic businesses and organizations, equally owned and controlled by a group of people. There are worker co-ops, consumer co-ops, producer co-ops, financial co-ops, housing co-ops, and more. In a cooperative, one member has one vote.
2.Because cooperatives are democratically owned by community members, co-ops keep money (and jobs) in their communities.
3.Cooperatives aren’t a far off theory. Cooperatives offer achievable and practical solutions to many economic, environmental, and social problems that can be implemented right now.
4.Co-ops aren’t charity; they’re empowering means for self-help and solidarity.
5.Members of cooperatives equally share the burden in hard times and equally share the benefits in good times.
7.Cooperatives are an international movement. There are thousands upon thousands of cooperatives around the world that are making major differences locally and globally.
8.Cooperatives strive to make people’s lives, communities, and economies more just, equitable, and democratic.
9.There’s no one right way to do a co-op. They can be flexible to fit different community and individual needs. There are big co-ops with thousands of members, and there are small co-ops with 3 members.
10.Cooperatives are viable and just alternatives for meeting our economic and social needs in contrast to corporations that exploit people and the planet.
almost everyone I know pays rent
As part of the day of action, file a request for disgorgement in the CFPB database if you have lost a home (and all of your equity),. If we can get three of four million requests filed, it could motivate some real change.
Please be sure to network with Occupy Minnesota. As they have been very active in protesting the illegal foreclosures.
I am hoping things start to change for the better soon. It is very possible, we just need the right people in power (the President, the Senate, the UN, the Prime Minister the Supreme Court) to get off their asses and get fucked up laws disband and unchecked economic rule shut down. I am educated, a professional and diplomatic, but come on already!
In compliment -
http://www.youtube.com/watch?v=bBx2Y5HhplI … Common Sense Reality. Economic Truth. Plain & Simple. Watch Consider Share Circulate Please View media
Tell the Bankers that the People are Too Big To Fail | OccupyWallSt.org: http://occupywallst.org/article/people_are_too_big_to_fail/#.UZOm5fT7g5E.twitter
Blow it out your ass.
That would be redundant as U just did.
In fact U always talk out of Ur ass.
Spreading/Sharing/Circulating information/education on the internet - is NOT a waste of time or effort.