Should Banks be a Public Utility?

Yves Smith: Finance sector controls the regulatory process - there needs to be a publicly controlled alternative to the private banking system

Category:

News & Politics

Tags:

• Public
• Utility
• Yves
• Smith
• Finance
• sector
• regulatory
• process
• publicly
• controlled
• alternative
• private
• banking
• system

[neutonik]

eventually, private banks will be publicly executed, by the majority they are abusing.

[clickJamaicadotcom]

ITS A NO-BRAINER...ITS OBVIOUSLY THE ONLY WAY TO GO. YES BANKS SHOULD BE A PUBLIC UTILITY. A HANDFUL OF PEOPLE WILL NOT LONGER GET UNETHICAL AMOUNTS OF BONUSES ON THE SAVERS BACK. SNNIFF SNNIFF! :-(

[tonyryan43]

Ellen Brown has been campaigning for this for years, quoting the Bank of North Dakota, and Australia's Commonwealth Bank before we were betrayed, so I small a rat here. Is Yves Smith trying to take Brown's ball, only to hide it once out of sight? Does she work for the USFRB?

[charronfamilyconnect]

Yeah treasury bills are risk free(but not from lost purchasing power). They are only nominally risk free but in reality they are very risky as you typically lock in long term while the purchasing power of your dollars over time loses more value then the perceived ROI with treasuries especilly when they are paying such shit right now. Anyone disagre? Am I out of line?

[laureeenful]

the thing is that as a public utility,it requires a branch to help in the maintaining of assets ...The best way to ensure fair and equality is to have consumers or members as shareholders in corporations.That leads to everyone having a say and been responsible instead of individuals who could care less and only concerned about thei pockets and their families.

[TheBalancedRepublic]

Not on topic but important. For those of you that see our goverment is not representing us, we think there are solutions that could cut out "special" interests. If you think true representation is important and you have an open mind, google us. Since this is new only thoughtful forward thinking people will be interested and our country needs your energy and imagination.

[AceObrin]

@BroBroDude My comment was intended as an elaboration with a slightly different focus ;)

[esalian9]

Isn't it already? The government completely controls the currency that the bank operates under and the interest rates are controlled by a government-created institution, the Federal Reserve. It might have some free market elements, but is mostly a government-controlled institution.

[khataroo]

Lets get rid of the Federal Reserve Now!

[Mr1700]

@Iammram less government isnt the answer either.

[HongPong]

Hells Yea Bank of North Dakota

[ThisIsNotPictureTube]

did the buffer suck for anyone else? it took like a half hour to buff for me! youtube is so annoying sometimes