Can we just nationalize, audit, restructure, and sell off the lamed banks already--and in the meantime, convert the Fed to an honest-to-gosh publicly-owned and regulated agency, rather than the "private-public" (ie, private profit, public debt) bankers' cartel it currently is?
And bring the troops back home from IraqiPakAfghanistan, possibly replaced by school builders, microfinance lenders, and constitutional law advisors? To be repeated as appropriate in Cuba, Poland, Thailand, and the other 130 foreign nations we currently garrison. Something smaller than a $500 billion-1 trillion "defense" budget might be nice, too.
And how about recognizing the full extent to which our economy and society could be "re-greened"--not just adding solar, wind, etc, to the grid, but actually decentralizing the grid itself; bringing back the day of worthwhile travel by train and bus; maximizing the local, organic, sustainable, even do-it-yourself aspect of feeding ourselves; and otherwise creating more sustainable, equitable, indeed elegant human ecosystems.
Just a few thoughts, a few priorities. I am woefully inactive in actually accomplishing any of these priorities; I simply offer them as food for thought.
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Woefully! Yeah, get on the stick already and change the world!
ReplyDeleteTruth be told and all things being equal, we probably ought to invade more countries.
ReplyDeleteDecentralization is a p. cool idea though. I will concede that. If there was any justice in this piss pot of a nation we would all live in hippy communes. Cities are awful.
I'm a little confused though. "Something smaller than a $500 billion-1 trillion "defense" budget might be nice, too." Why do you hate the troops, man? I just don't understand.
Can the fed nationalize, audit and restructure a bank as large as, for instance, Citibank? Does the FDIC have the manpower, and could they restructure so bogglingly large a bank in a timely manner? I frankly doubt it, and I think the fed tacitly admitted that when they bought into the "too big to fail" argument by simply throwing them bales of money instead.
ReplyDeleteI'm with you, but it seems to me that progressively slackening oversight created these monsters that the fed is now all but powerless to regulate. Considering the slowness with which the wheels of government turn, reigning them in may take years of gradual restructuring, and our dear fed will be so moved only if the pressure from its constituents to reign them in remains steady or increases during those years.
Will the pressure continue? Or will the constituency be distracted by sensationalized issues? The release last week of the torture memos would indicate that distraction is easily accomplished. But as unemployment continues to rise and the FDIC continues to close banks across the country at an increasing rate, I'm hopeful that these distractions will not relieve the pressure on the fed to do something to reform the banking system. The smallest step forward is still an improvement.
da spasm chasm:
ReplyDeleteThanks for looking at my blog! Just FYI, my mother, father, and stepfather were all Russian linguists in the United States Air Force, serving somewhere between 40-50 years, collectively. So, I most definitely don't "hate the troops". I just think we have little business trying to be the world's policeman--it's a massive drain on all of our resources, it as frequently threatens our interests as protecting them (by causing "blowback" reactions, heightening instability, etc), it frequently destabilizes other countries, and it's just plain wrong, morally speaking.
Daveo: I honestly hadn't thought of the banks being too big to nationalize and restructure. Perhaps, then, they simply need to be broken up. In my mind, there's nothing terribly wrong about regional banks and credit unions...
ReplyDeleteAmen, Brother Sean! (Where's that apple? Where's that tree?)
ReplyDeletePlease figure out all the minor details, and then run for public office ASAP.
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