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Forum Post: Proposition for official demand and rallying cry

Posted 12 years ago on Sept. 22, 2011, 1:10 a.m. EST by gmarceau (9)
This content is user submitted and not an official statement

Here's my proposition for official demand and rallying cry:

bankrupt the banks
bail out the people

It clearly state who we think is the problem, I can be absorbed in a 1/2 sec tv cut, it offers a solution that is supported by prominent economist (Krugman, Sachs, Johnson), it is a solution which cleanly contrast the moral choice at hand. It doesn't require in-depth knowledge knowledge of economics or politics to intuit why it is an effective solution. And it is topical, since the EU about to decide how to deal with Greece's debt.

And we can refer people to Simon Johnson (of IMF)'s article on The Atlantic for the long-form version of that demand.

And it's going to be really fun to sing it during the marches. :)



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[-] 2 points by stealth (28) from Jersey City, NJ 12 years ago

Everyone should just bring a radio, and blast the song "They Don't Really Care About US" by michael.

Bail Out Student Loans !!!! that should be the slogan !!!!

[-] 2 points by stealth (28) from Jersey City, NJ 12 years ago


[-] 1 points by NoMoreBull (6) 12 years ago

Who stole the Wall St. Bull?

[-] 1 points by PyROphantasie (5) from San Francisco, CA 12 years ago


[-] 1 points by TuHyFNTm (12) 12 years ago

Endless Wars = Endless Debt

[-] 1 points by TuHyFNTm (12) 12 years ago

The U.S. Constitution: An Idea Whose Time Has Come Again.

[-] 1 points by TuHyFNTm (12) 12 years ago

Put Wall Street Fraudsters In Jail.

[-] 1 points by froggy1 (2) 12 years ago

Pro separation of bank and state

[-] 1 points by oftenon (12) from New York, NY 12 years ago

$2T Corp Profits Where are JOBS?

We're America's Shareholders We Bailed out the Banks Where is our Dividend?

[-] 1 points by stealth (28) from Jersey City, NJ 12 years ago


[-] 1 points by gmarceau (9) 12 years ago

As I was saying, "bankrupt the banks, bail out the people" is my one-liner version for the solution put forward by Simon Johnson of the IMF.

It is one thing truly remarkable and unexpected aspect of this protest, that we find ourselves on the same side as the IMF. "The IMF is on our side" is a great talking point, one that should be very effective at deflecting attempt to disparage our ideas with facile accusation of being uninformed or naive.

In the Atlantic article, Simon Johnson describes how the United States' economic ills are very much of the same nature as that of the 3rd world countries they are used to restructure. His prescription for the USA tackles the two panes of the problem.


The first pane is a desperately ill banking sector that threatens to choke off any incipient recovery that the fiscal stimulus might generate.

For this, his prescription is to use the standard Federal Deposit Insurance Corporation process (basically a government-managed bankruptcy procedure for banks):

  • Wipe out bank shareholders;
  • Replace failed management;
  • Clean up the balance sheets;
  • And then sell the banks back to the private sector.

The second pane is a political balance of power that gives the financial sector a veto over public policy, even as that sector loses popular support.

The solution in this case is:

  • Big banks should be sold in medium-size pieces, divided regionally or by type of business. Where this proves impractical:
  • Sell them whole with the requirement that they be broken up within a short time;
  • And banks that remain in private hands should also be subject to size limitations.
[-] 2 points by daerice (2) 12 years ago

Excellent, I will copy this and distribute. Thanks

[-] 1 points by gmarceau (9) 12 years ago

Awesome. Go right ahead.

[-] 1 points by TuHyFNTm (12) 12 years ago

Notice that the Simon Johnson says nothing of the Federal Reserve. He is a central banker, and all central bankers believe they have the right to dictate to society and use their power to create money out of thin air to in-debt, bankrupt and take over countries. Start by ending the Federal Reserve, bring back Glass Steagle, and let bankruptcy clean out the financial system.

[-] 1 points by gmarceau (9) 12 years ago

You know the line "Divide and conquer"? The left tends to do that to itself, we don't even need an oppressor to do it for us. We focus on finding faults in your allies so much, that we find ourselves atomized, divided and weak. It's a phenomena called The left eat its own..

Of course we don't agree on everything with the IMF. I suggest we focus on the common ground, and walk towards building a wide, powerful, far reaching coalition.