Tuesday, December 11, 2012

AlterNet: Ellen Brown: "Let's Take Back the Banks From Greedy Financiers": How Public Banks Would Bring Good Competition to the Banking Industry

Let's Take Back the Banks from Greedy Financiers | Alternet

I just wrote a blog about ten minutes ago laying out why I'm against Big Government, so writing a new blog. In favor of public banks might sound like a contradiction because just the idea of public banks sounds like Big Government Socialism. And I agree it would be if we were to nationalize the banking industry, which we are not and I'm against doing that. But anyone whose a true believer in American Capitalism, a believer in the private market, whether they are on the right or left. Should be able to agree on a few things, that open and fair competition is a good thing, that the more business's that we have. That are successful and competing for the same market and provide a quality and affordable service is a good thing. And that monopolies, public or private are bad, thats why public banks could be a good idea, again if they aren't. Directly run by government but an independent service owned by tax payers and that they don't serve as a replacement. For private banks, just as competition for them.

Another thing that we should be able to agree on, is that too big to fail is too big and that government should. Never be in the business of bailing out these banks, especially at tax payers expense again and that we need more banks. More power in the hands of the many and less power in the hands of the few, another words more free, fair and open competition. Thats replacing monopolies that can essentially do whatever they want at our expense within the law, because their customers don't have another option.