Three Strikes Against Wall Street

. . . Occupy Wall Street isn’t about demands, it’s about making a statement. It’s a statement that the current system isn’t working for the average American (and based on the worldwide events this weekend, it’s not working for a lot of people in a lot of places). It’s a statement that the common people seem to have been abandoned by a government that cares more for corporations than for workers, more for the rich than the poor, more for the powerful than the weak . . . A good government controls the market so that the market serves the citizens . . . Games, and markets, are made to work through rules. Rules only work if they are enforced. If the game no longer serves the fans, or the market no longer serves the citizens, then the rules need to changeWhen we look back over the last half century, we see a market that increasingly veers away from its role of serving the citizenry . . . The occupy movement is a withdrawal of consent. It’s not a war on capitalism. It’s an acknowledgement that we are doing capitalism badly, and in a way that does not serve to help real people in their real lives.
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Quote: Barrack Obama

Barack Hussein Obama II, (born August 4, 1961)
The 44th President of the United States

As was true 50 years ago, as has been true throughout human history, those with power and privilege will often decry any call for change as “divisive.” They’ll say any challenge to the existing arrangements are unwise and destabilizing. Dr. King understood that peace without justice was no peace at all; that aligning our reality with our ideals often requires the speaking of uncomfortable truths and the creative tension of non-violent protest.

Banking Has Become an Oligopoly Instead of a Competitive Business — And That’s Really Bad News for Us 99%

Banking is not really a competitive industry. In reality, it’s more like an oligopoly — a scenario in which an industry is controlled by a small number of firms . . . Because they aren’t really a competitive industry, they can get away with huge cost v. returns gaps . . . We’re all familiar with the term “Too Big To Fail,” which sums up what happens nowadays to the biggest banks even when they commit fraud against consumers, poison them with toxic products, grossly neglect their duties to shareholders, and blow up the economy. They are rescued with public money . . . The alternative is to find a credit union or small bank, if for no other reason than to give your support to local businesses and to invest in Main Street. Read more . . .