CureZone   Log On   Join
Public banking option
 

Free Clark DVD!
Bestselling author Dr. Hulda Clark claims to have cured cancer



Blood Worms?
Hulda Clark Cleanses



Eliminate Parasites Fast and Easy
One of the most powerful aids in helping the body el...


More
wen Views: 688
Published: 10 years ago
 

Public banking option


Oct 21 21:39
A Real People's Bank: Occupy Wall Street's Call for a Public Banking Option
By: AuntieX
Tags:

CURRENT EVENTS
DICTATORSHIP
ECONOMY

One of the demands floating around the Occupy Wall Street protest movement has been a call for a public banking option. In an October 8 interview on the Real News Network, Dr. Michael Hudson, a professor of economics at the University of Missouri-Kansas City, explains this demand:

"The demand isn't simply to make a public bank but to treat the banks generally as a public utility, just as you treat electric companies as a public utility. The key about public utilities is their rate of return is guaranteed and the rules which they operate under are guaranteed. Just as there was pressure for a public option in health care, there should be a public option in banking. There should be a government bank that offers credit card rates without punitive 30 percent interest rates, without penalties, without raising the rate if you don't pay your electric bill. This is how America got strong in the 19th and early 20th century, by essentially having public infrastructure, just like you'd have roads and bridges...The idea of public infrastructure was to lower the cost of living and to lower the cost of doing business. You're not going to do that if you let Citibank write the rules."
 

 
Printer-friendly version of this page Email this message to a friend
Alert Moderators
Report Spam or bad message  Alert Moderators on This GOOD Message

This Forum message belongs to a larger discussion thread. See the complete thread below. You can reply to this message!


 

Donate to CureZone


CureZone Newsletter is distributed in partnership with https://www.netatlantic.com


Contact Us - Advertise - Stats

Copyright 1999 - 2021  curezone.com

0.203 sec, (1)