Saturday Protest: Close Legacy Banks

[girl gone mad]

From http://optionarmageddon.ml-implode.com/">Option Armageddon:

This http://anewwayforward.org/demonstrations/">planned nationwide protest should appeal to populists on the left and free marketers on the right, both of which object to the Chinese-water-torture bailouts keeping legacy banks afloat.

The organizers have exactly the http://anewwayforward.org/the_idea/">right idea to solve the bank crisis:

NATIONALIZE: Experts agree on the means — Insolvent banks that are too big to fail must incur a temporary FDIC intervention - no more blank check taxpayer handouts.

REORGANIZE: Current CEOs and board members must be removed and bonuses wiped out. The financial elite must share in the cost of what they have caused.

DECENTRALIZE: Banks must be broken up and sold back to the private market with strong, new regulatory and antitrust rules in place– new banks, managed by new people. Any bank that’s “too big to fail” means that it’s too big for a free market to function.

You can find the nearest protest at http://anewwayforward.org/demonstrations/rally-list.php">this page.

[snot]

1. Yes; but could they PLEASE add, "REGULATE" --

i.e., restore and expand Glass-Steagall, outlaw sales of naked shorts and uncollateralized derivatives, and restore regulatory agency resources and will.

[girl gone mad]

2. It's under "decentralize" n/t

[snot]

3. I'd say, that's not sufficiently clear.

[Karmadillo]

4. Kick

nt