No feaking DUH. . .
I LOVE Bill Moyers. He is one of the very few straight-shooting inquirers into our society and its workings. He is a news reporter with his own show. He is not a suck-up like Larry King. And he isn’t just the same old boring sit-down-across-the-table. He includes plenty of video. And he addresses tough issues as often as anyone in the U.S. mainstream. Bush’s lackey got him taken off the air, back in around 2005, but Moyers seemingly didn’t miss a beat. I love the guy. He can talk economics and religion, history, politics, health care and international issues.
But this show seems a bit of fluff, in spite of the subject and the guests.
Pardon me, but isn’t the prototypical oligarch DEFINED as a banker? Show me an oligarchy that isn’t wrapped around the bankers? Asking if a banker is an oligarch is like asking if Joe Stalin was a murdering communist sociopath.
And we need those people between us and our money exactly WHY?
This blog entry is mainly about things at their most fundamental level – the level at which we all are so used to something being a certain way that we never question it.
In the middle of the economic collapse in the fall of 2008, I was a regular attendee at Simon Johnson’s blog. One of the biggest issues being considered at the time was nationalizing the banks for a while, until everything got back on track. After reading enough, I concluded that if nationalizing them was a cure, then why should we then give the banks back to the same parasites that ran them into the ground? And if government could run a stable banking system for a while, why not just let the government run the banks on an ongoing basis?
Since then, nothing has changed that realization. We need to get private owners out of the business of handling our money. They are just parasites.
Just as governments handle DMVs, deeds and Medicare, there is no reason that they can’t handle such basic transactions as deposits and withdrawals and loans.
The oligarchs who own our banks are just skimming money – and for essentially doing NOTHING. WE put our money in. WE take out money out. What does the CEO do? Attend meetings? Play golf and then divert money to his cronies? Make deals for land developers who then will put people out of their houses so some resort can make more money for the local Chamber of Commerce members? Deals, deals, deals – parasites, parasites, parasites.
Loans? Some claim that if the government runs the banks, then loans will be politicized. As if that isn’t already the case? R-E-D-L-I-N-I-N-G So, exactly how is private ownership preventing redlining? Deals, deals, deals – smoke-filled back rooms – and always, ALWAYS the threat of collusion and under-the-table deals. They are on the brink of criminality at every turn. Witness the never-ending line of bank and savings and loan scandals.
I have a WHOLE lot more faith in a clerk at the DMV than I do the private ownership of ANY bank.
Investment banking isn’t the same thing as community banks? Well, right – investment banks DO have more in common with bookies than they do with community banks. And they should be labeled as such, and never the twain shall meet.
Investment “banks” are merely bet placers. And OTB betting is done at clerk’s windows, too, or online. Who needs the fat cats at the top of the food chain, just to place a bet? Oh, they OWN the race track, so they should get a cut of the action? How big a cut does the SEC take? How big a cut does the NYSE take?
There is nothing going on at commercial banks or investment banks that can’t be done – in this day and age of computers doing all the transfers of moneys – by government just as well – and without the huge skim and all the Acapulco condos and Gstaadt ski vacations.
Can anyone watch this show and still trust a banker?