facing London and Wall street protests reflect a deep anger that no one has been called to account for the financial crisis
The only surprise Saturday occupation of the London Stock Exchange is that it took so long to arrive. Undoubtedly, the pressure on the government and banks had hoped that the final report of the commission last month Vickers draw a line under the banker called hit in the UK. As Basil Fawlty would say, "I fell into the global economy once, but I think I went with it."
Why not go to events? Here's why: there has been no public inquiry into the causes of the accident. No need to hold accountable those who took the boat against the rocks. No claim of public interest in the financial markets. No bank to subordinate the needs of the real economy. No politician dares global finance upside down. There is no challenge to the principles of neoliberal economics has disappeared. No attempt to reverse the hoarding of wealth stunning 1% at the expense of others.
Why should we be surprised that these protests are emerging, and why should we wait until it disappears until these bugs are addressed?
the protest movement that began in World Wall Street chose the right link. The current crisis of public and private debt of unimaginable wealth for some in the middle to lower income and economic insecurity many sources, directly from the financial crisis of 2008 and decades of deregulation and orthodox neoliberal brought us here.
- The austerity measures
- are unable to break the deadlock, and in fact can only accelerate a downward economic spiral. New ways of thinking the economy is urgent that the issue of the primacy of financial markets and the debt-fueled growth.
- The system is broken, it's how you fix it. Do not play with the banks ringfencing. Break as the first step in creating an effective infrastructure for local lending. This is not a utopia. This is what the German banking system looks like. Local banks have supported public savings for small businesses and ordinary people through the recession, where the major banks to flee at the first sign of difficulty. No projects annual pantomime Merlin is required for our industrial competitors.
not expect the fall of the money drop. Experience shows that, left to their fate, it will flood up. We can start by creating local barter currencies in all cities to help new businesses have lost the use of land, buildings, resources and people. Ultimately, it must be sufficiently large and the dispersion of control over natural resources of the nation, the human and financial capital. We need to restore much of the financial industry to the investment property that has served this nation so well until the scandal break and grab attacks demutualization in the 1990s.
In short, we must reaffirm the public interest. It turns out that, as a guiding principle of the financial system, greed is not good. Financial plutocracy must give way to democracy Financial - banks, as if people Mattered
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