Why Letting Banks Fail Is Actually Good For Real People

Continuing our theme about banks this week, a friend sent me a link to the ChangeThis site which has a manifesto from Douglas Rushkoff. Here are a couple of excerpts:

“As the financial institutions we have come to rely on appear to topple under their own weight, it’s only natural that we rush to support them. These are the banks, investment groups, and insurance firms to which we have outsourced our savings, financing, and investing. They fund our businesses and lend most of our currency into existence. Were we just a bit more aware of how this dependency developed, however, as well as what it costs us in the long run, we might choose instead to exploit their temporary vulnerability toward very different ends. Indeed, if we had our wits about us, we would seek to put our biggest banks out of our misery, for good.”

"The failure of giant banking is less a crisis  than it is an opportunity to rediscover the long lost art of local commerce."

Download the manifesto.

2 thoughts on “Why Letting Banks Fail Is Actually Good For Real People

  1. Cameron, I fully agree with this sentiment.

    This time period is a unique opportunity to create-

    real, and beneficial change, bringing about::

    social justice
    social equity
    re-evaluation as a society of scarcity, abundance, and value systems,
    both moral, ethical and philosophical
    among many other things.

    The fissure into the belly of the beast is visible,
    and just like Beowulf, who struck while the iron was hot…

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