Tuesday, March 31, 2009

A New Way Forward

One of the most vexing things about the Obama Administration is its perplexing generosity with Wall Street and the banking industry. We've already thrown billions of dollars of bailout money at the greedy incompetents running the financial industry, and they still can't see their way clear to make credit available to individuals and businesses. Defenders of the bailout say that the giant banks are too big to be allowed to fail, and that if they go under, they'll take the whole economy with them. Meanwhile, economists such as Paul Krugman argue that this type of bailout can't and won't work.

Thanks to janinsanfran and William Greider, I discovered the website of a group of activists who are mad as hell and not going to put up with nonsense any more. According to A New Way Forward, "If it's too big to fail, it's too big to exist." They insist that "We must break up the banks and never again let them get so big that they distort our politics and take down the economy."

At 2 p.m. EDT, (this would be 1 p.m. Central time), A New Way Forward is sponsoring demonstrations nationwide to support their program to nationalize, reorganize, and decentralize the banks. There may even be a demonstration here in OKC, although as of this writing, only two people have committed to attend it.

In my rush to finish this post before the library closes, I'm probably oversimplifying what A New Way Forward is all about. For more information, you can visit their blog. They also offer an online discussion forum.

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