problem

Big multinational corporations and financial institutions extract value from local economies and engage in socially and environmentally destructive business practices.

Banks are the circulatory system of an economy, providing liquidity, loans and other financial services that the economy depends on. Therefore there is hardly a more important question than in whose interest banks are run. Should banks fund war and fossil fuels, or shouldn’t they? Should they be run for the private interest of wealthy shareholders or for the public benefit? The economy is currently designed by and for plutocrats, using the power and levers of big banking to fund socially and environmentally destructive projects, conduct rampant fraud and predatory business practices, and extract funds from local economies into bankers’ pockets. For example, when a city takes a loan for an infrastructure project, a private Wall St. firm supplies the loan, at interest. Often times, interest paid back to the bank makes up a significant amount of the cost, sometimes even as high as the original cost of the infrastructure project itself, double the costs to the People for the sake of paying Wall St. YOU pay taxes, and part of your money is being extracted by Wall St!