We the People

by Public Bank LA
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Private interests run the economy for the benefit of the very few and the financial elites designed it that way.

The economic sphere is now totally separated from the political sphere, making the flow of private capital immune to public scrutiny as it now stands. The economy is where the real power lies; so without the power to guide the economy in the name of people and planet, our political leaders have been unable to provide meaningful solutions to the imminent problems we now face.

Too much is at stake in too short a timeframe to be content with anything other than real solutions. Divesting from one extractive Wall St. behemoth only to reinvest into another would, at the end of the day, provide only an illusion of progress. The time has come to stop merely looking at the symptoms of a pernicious financial system; the time has come to do nothing less than radically transform the system itself.

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The Savings and Stability of Public Banking

by Public Bank LA
in Updates
Hits: 1997

By Ralph Nader, Common Dreams. As a society obsessed by money, we pay a gigantic price for not educating high school and college students about money and banking.

The ways of the giant global banks – both commercial and investment operations – are as mysterious as they are damaging to the people. Big banks use the Federal Reserve to maximize their influence and profits. The federal Freedom of Information Act provides an exemption for matters that are “contained in or related to examination, operating, or condition reports prepared by, on behalf of, or for the use of an agency responsible for the regulation or supervision of financial institutions.” This exemption allows financial institutions to wallow in secrecy. Financial institutions are so influential in Congress that Senator Durbin (D, IL) says “[The banks] frankly own this place.”

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If China Can Fund Infrastructure with Its Own Credit, So Can We

by Public Bank LA
in Updates
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By Ellen Brown, Common Dreams. This week has been designated “National Infrastructure Week” by the US Chambers of Commerce, the American Society of Civil Engineers (ASCE), and over 150 affiliates. Their message: “It’s time to rebuild.”

What is Fox TV?
Ever since ASCE began issuing its “National Infrastructure Report Card” in 1998, the nation has gotten a dismal grade of D or D+. In the meantime, the estimated cost of fixing its infrastructure has gone up from $1.3 trillion to $4.6 trillion.

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