SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Nationalize, Reorganize, Decentralize
Apr 10, 2009
Two days ago I wrote about introducing a new kind of scale-based antitrust.
Before exploring some other structural reforms, I want to encourage
people to join a nationwide demonstration of support for some basic
principles of structural change in the banking sector.
On Saturday, 60+ demonstrations will be held around the country,
demanding structural change in the banking sector. The group organizing
the demonstrations, a New Way Forward,
started less than a month ago, but is already approaching 10,000
members. A New Way Forward embodies the logic of the most thoughtful
economic thinkers in the country, translated into clear, direct
language and action.
We/they support a Nationalize, Reorganize, Decentralize platform,
pointing to Krugman on the need for temporary nationalization, Simon
Johnson on the need for removing current leadership in the banking
sector, and Mike Lux on the importance of creating a new, decentralized
private market, with new banks run by new people. Any bank that's "too
big to fail" means that it's too big to exist in a free market.
I got involved in A New Way Forward a week or so after it started, and its an amazing grassroots organization in a few ways.
The first is that it is completely unfunded. Tiffiniy Cheng, Donny
Shaw, Morgan Knutson, Andrew Packer, and the 60+ local organizers who
have sprung up are all working (a lot) for free: not a one is making a
dime. There are no paid advertisers, media campaigns, or strategists.
Every piece of this effort is unpaid.
The second is that it is intellectually serious and engaged, without
being condescending. On the organizers listserv, the 60+ organizers
share tips on how to get megaphones, how to make effective signs, how
to get permits, who to ask for legal advice...and thoughtful opinion
pieces by economists about the pros and cons of different regulations.
The wisdom of particular regulations is debated.
The third is that the process is deeply democratic. Debate on the
organizers listserv--and it is a listserv about highly contentious
issues, so there is debate--is respectful and thoughtful. Suggestions
are made, but not commands. In the "top down" vs. "bottom up" range of
organizations, this one is deeply bottom up, with a fundamental
attitude of respect and care--necessary features in a sustainable
democratic community.
All of these things to me give me great hope that it will have an
impact, and become a sustainable force demanding a complete change in
the way we organize our banking structure, in both the short and long
term.
The summary of demands: "Nationalize, Reorganize, Decentralize" applies
to banks, but also applies to the politics of the group--everyone comes
together to organize locally, in a decentralized fashion.
As Bill Greider said describing it on Bill Moyers, it is an expression
of true citizenship--active, thoughtful, public expression and
engagement in the most important political debates of our times.
An Urgent Message From Our Co-Founder
Dear Common Dreams reader, The U.S. is on a fast track to authoritarianism like nothing I've ever seen. Meanwhile, corporate news outlets are utterly capitulating to Trump, twisting their coverage to avoid drawing his ire while lining up to stuff cash in his pockets. That's why I believe that Common Dreams is doing the best and most consequential reporting that we've ever done. Our small but mighty team is a progressive reporting powerhouse, covering the news every day that the corporate media never will. Our mission has always been simple: To inform. To inspire. And to ignite change for the common good. Now here's the key piece that I want all our readers to understand: None of this would be possible without your financial support. That's not just some fundraising cliche. It's the absolute and literal truth. We don't accept corporate advertising and never will. We don't have a paywall because we don't think people should be blocked from critical news based on their ability to pay. Everything we do is funded by the donations of readers like you. Will you donate now to help power the nonprofit, independent reporting of Common Dreams? Thank you for being a vital member of our community. Together, we can keep independent journalism alive when it’s needed most. - Craig Brown, Co-founder |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
Zephyr Teachout
Zephyr Teachout ran for governor of New York State in 2014. She teaches constitutional and property law at Fordham University Law School. Her latest book, Corruption in America, is a history of the corrosive influence of money in politics.
Two days ago I wrote about introducing a new kind of scale-based antitrust.
Before exploring some other structural reforms, I want to encourage
people to join a nationwide demonstration of support for some basic
principles of structural change in the banking sector.
On Saturday, 60+ demonstrations will be held around the country,
demanding structural change in the banking sector. The group organizing
the demonstrations, a New Way Forward,
started less than a month ago, but is already approaching 10,000
members. A New Way Forward embodies the logic of the most thoughtful
economic thinkers in the country, translated into clear, direct
language and action.
We/they support a Nationalize, Reorganize, Decentralize platform,
pointing to Krugman on the need for temporary nationalization, Simon
Johnson on the need for removing current leadership in the banking
sector, and Mike Lux on the importance of creating a new, decentralized
private market, with new banks run by new people. Any bank that's "too
big to fail" means that it's too big to exist in a free market.
I got involved in A New Way Forward a week or so after it started, and its an amazing grassroots organization in a few ways.
The first is that it is completely unfunded. Tiffiniy Cheng, Donny
Shaw, Morgan Knutson, Andrew Packer, and the 60+ local organizers who
have sprung up are all working (a lot) for free: not a one is making a
dime. There are no paid advertisers, media campaigns, or strategists.
Every piece of this effort is unpaid.
The second is that it is intellectually serious and engaged, without
being condescending. On the organizers listserv, the 60+ organizers
share tips on how to get megaphones, how to make effective signs, how
to get permits, who to ask for legal advice...and thoughtful opinion
pieces by economists about the pros and cons of different regulations.
The wisdom of particular regulations is debated.
The third is that the process is deeply democratic. Debate on the
organizers listserv--and it is a listserv about highly contentious
issues, so there is debate--is respectful and thoughtful. Suggestions
are made, but not commands. In the "top down" vs. "bottom up" range of
organizations, this one is deeply bottom up, with a fundamental
attitude of respect and care--necessary features in a sustainable
democratic community.
All of these things to me give me great hope that it will have an
impact, and become a sustainable force demanding a complete change in
the way we organize our banking structure, in both the short and long
term.
The summary of demands: "Nationalize, Reorganize, Decentralize" applies
to banks, but also applies to the politics of the group--everyone comes
together to organize locally, in a decentralized fashion.
As Bill Greider said describing it on Bill Moyers, it is an expression
of true citizenship--active, thoughtful, public expression and
engagement in the most important political debates of our times.
Zephyr Teachout
Zephyr Teachout ran for governor of New York State in 2014. She teaches constitutional and property law at Fordham University Law School. Her latest book, Corruption in America, is a history of the corrosive influence of money in politics.
Two days ago I wrote about introducing a new kind of scale-based antitrust.
Before exploring some other structural reforms, I want to encourage
people to join a nationwide demonstration of support for some basic
principles of structural change in the banking sector.
On Saturday, 60+ demonstrations will be held around the country,
demanding structural change in the banking sector. The group organizing
the demonstrations, a New Way Forward,
started less than a month ago, but is already approaching 10,000
members. A New Way Forward embodies the logic of the most thoughtful
economic thinkers in the country, translated into clear, direct
language and action.
We/they support a Nationalize, Reorganize, Decentralize platform,
pointing to Krugman on the need for temporary nationalization, Simon
Johnson on the need for removing current leadership in the banking
sector, and Mike Lux on the importance of creating a new, decentralized
private market, with new banks run by new people. Any bank that's "too
big to fail" means that it's too big to exist in a free market.
I got involved in A New Way Forward a week or so after it started, and its an amazing grassroots organization in a few ways.
The first is that it is completely unfunded. Tiffiniy Cheng, Donny
Shaw, Morgan Knutson, Andrew Packer, and the 60+ local organizers who
have sprung up are all working (a lot) for free: not a one is making a
dime. There are no paid advertisers, media campaigns, or strategists.
Every piece of this effort is unpaid.
The second is that it is intellectually serious and engaged, without
being condescending. On the organizers listserv, the 60+ organizers
share tips on how to get megaphones, how to make effective signs, how
to get permits, who to ask for legal advice...and thoughtful opinion
pieces by economists about the pros and cons of different regulations.
The wisdom of particular regulations is debated.
The third is that the process is deeply democratic. Debate on the
organizers listserv--and it is a listserv about highly contentious
issues, so there is debate--is respectful and thoughtful. Suggestions
are made, but not commands. In the "top down" vs. "bottom up" range of
organizations, this one is deeply bottom up, with a fundamental
attitude of respect and care--necessary features in a sustainable
democratic community.
All of these things to me give me great hope that it will have an
impact, and become a sustainable force demanding a complete change in
the way we organize our banking structure, in both the short and long
term.
The summary of demands: "Nationalize, Reorganize, Decentralize" applies
to banks, but also applies to the politics of the group--everyone comes
together to organize locally, in a decentralized fashion.
As Bill Greider said describing it on Bill Moyers, it is an expression
of true citizenship--active, thoughtful, public expression and
engagement in the most important political debates of our times.
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.