How to Liberate America from Wall Street Rule by David Korten

A newly released report of the New Economy Working Group,  How to Liberate America from Wall Street Rule is the product of extended discussions among representatives of a diverse group of organizations committed to deepening and reframing the conversation on financial reform to focus attention on the serious financial system restructuring required to build a strong new American economy adequate to the social and environmental challenges of the 21st century. It may be freely shared, reproduced and distributed with appropriate citations.  To see or download full report, click below.


http://www.yesmagazine.org/pdf/liberateamericadownload.pdf

How to Liberate America from Wall Street Rule spells out details of a six-part policy agenda to rebuild a sensible system of community-based and accountable financial services institutions.

1. Break up the mega-banks and implement tax and regulatory policies that favor community financial institutions, with a preference for those organized as cooperatives or as for-profits owned by nonprofit foundations.
2. Establish state-owned partnership banks in each of the 50 states, patterned after the Bank of North Dakota. These would serve as depositories for state financial assets to use in partnership with community financial institutions to fund local farms and businesses.
3. Restructure the Federal Reserve to function under strict standards of transparency and public scrutiny, with General Accounting Office audits and Congressional oversight.
4. Direct all new money created by the Federal Reserve to a Federal Recovery and Reconstruction Bank rather than the current practice of directing it as a subsidy to Wall Street banks. The FRRB would have a mandate to fund essential green infrastructure projects as designated by Congress.
5. Rewrite international trade and investment rules to support national ownership, economic self-reliance, and economic self-determination.
6. Implement appropriate regulatory and fiscal measures to secure the integrity of financial markets and the money/banking system.

This is a no brainer as far as I'm concerned.  We need to get this done!

Some New Websites and Blogs about Money and Banks

Her is some important information about how for-profit banks and all those greedy, wheelers-dealers that helped cause our financial crises manipulate and create money in order to take us all to the cleaners.

It isn't hard to understand.  It all makes sense if you think about it.  North Dakota has had a state bank for decades that was created to SERVE THE PEOPLE of the state.  That is its' mission.  It is also not facing a deficit.  It never took part in the practices that almost destroyed the global economy.  And apparently, several other States are considering establishing their own banks.  So I am posting a couple of websites to check out.  Prepare to experience flashes of insight!

 http://publicbanking.wordpress.com/

http://www.concordresolution.org/article.htm

http://www.webofdebt.com/articles/state_bank_option2.php