Elizabeth Warren
In reply to the discussion: Senator Warren, encouraged by vote, says time to end subsidies for 'too big to fail' banks [View all]Volaris
(10,720 posts)Making sure that Treasury Dept. can prop up the economy of the rest of us, in case (and what I REALLY mean here, is WHEN) Wall Street fucks up THEIR economy again and banks start failing. Part of that means, building a non-competitive (with BANKS), Not-For-Profit National Credit Union that's run out of the Treasury with at least one branch office in each state, that can make funds available to everyday people in time of need. Since Treasury can mint all the coin it wants, just start with a Billion dollar coin, loan that money out to people (at this point in history, I would be writing simple-interest Home Loans), and when you collect it back, you are running a zero-sum economy: I.E., no one made a dime off the fact that American Cedit and Currency was used to benefit American Borowers, and that prole that works 80 hours a week across three jobs got his damn house paid off, and now has something of REAL VALUE to show for his work ethic.
Back that fucker with the Full Faith and Credit of the United States, and there will never be a major economic crash in this country again (that fucks WORKING PEOPLE out of what they have actually worked for.) Not to to mention, you could charge an extra 5% on all the Simple Interest loans you would make, and shove that cash DIRECTLY into paying down the debt.
The Tea-Bagger types LOVELOVELOVE to bitch and scream that Wall Street should have been allowed to fail, and I think they are right. What no one has the balls to tells them, is that for that to actually EVER HAPPEN, you need a PUBLIC Sector robust enough to pick up the slack. We should start asking them:
"How much do you hate the "big banks"? Oh, not enough to re-establish a Government that can LET them fail? Well, in that case, fuck you, you get what you PAY FOR."