Forum Post: No. 1 priority has to be separation between main street banks and wall street banks!
Posted 12 years ago on Oct. 26, 2011, 12:54 p.m. EST by ltjaxson
(184)
This content is user submitted and not an official statement
OWS's top message has to be the re-implementation of Provision Q of the Glass-Steagal Act that seperates commercial banking (main street) from investment banking (wall street). It is unethical, unfair and inhumne for Wall Street 'investors' to take Main Street deposits to use for their 'ventures' that dont pay any of the profits back to the depositors and cost the public tax payer trillions when the investments are irresponsibly mis-managed. We cant afford another episode of bank failures like in the ealy 1930s and we cant afford another episode of 'too big to fail'. Regulation is the key to a fair and stable economy.
A dozen states are studying establishing their own banks for this exact reason. North Dakota already has their own successful state bank. North Dakota has the lowest unemployment and foreclosure rates in the nation. A publicly owned state bank loans and low interest or fee only and keeps the funds working in the each state. Wall street does not want state banks because it takes the money away from them and gives it back to the people of each state. This step requires NOTHING on the part of the federal government. Just force YOUR STATE legislators to set up the banks. Far easier task than taking on Washington.
Nice one!
Awesome! Another way is to join your local credit union or co-operative bank...
separation not seperation
thanks for the tip - dick!
Figures you like dick tips.....
And glad you took it....
Really???