SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
To donate by check, phone, or other method, see our More Ways to Give page.
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
(Photo: Mike Mozart/flickr/cc)
In an insightful song about outlaws, Woody Guthrie wrote this verse: "As through this world I travel / I see lots of funny men / Some'll rob you with a 6-gun / Some with a fountain pen."
The fountain pens are doing the serious stealing these days.
For example, while you'd get hard time in prison for robbing a bank at gunpoint, bankers who rob customers with a flick of their fountain pens (or a click of their computer mouse) get multimillion-dollar payouts.
They usually escape their crimes unpunished -- but not unscathed. After all, it's their constant, egregious, gluttonous thievery that's made "banker" a four-letter word in America, synonymous with immoral, self-serving behavior.
For example, Wells Fargo, our country's biggest consumer bank, has gotten away with paying some fines for stealing millions of dollars from customers in its notorious "fake accounts" scheme.
But it hasn't escaped the wrath of the Sisters of St. Francis of Philadelphia.
This feisty order of nuns, which holds a block of Wells Fargo stock, is infuriated by the rank immorality of its bank's executives. The sisters are pushing a shareholders' proposal demanding a full accounting of the "root causes" of the malicious fraud perpetuated on vulnerable depositors.
Unsurprisingly, the bank's aloof and arrogant board of directors, which had silently presided over the fraud for years, opposes any such meaningful probe. Such recalcitrance only intensifies the public's outrage and cynicism toward out-of-control banksters.
But the giant worries less about its public image than it does about the reality an in-depth investigation would expose -- namely, that our nation's dominant banks have not only become too big to fail and too big to jail, but too big to manage and control.
To stop that thievery, they must be broken up.
Donald Trump’s attacks on democracy, justice, and a free press are escalating — putting everything we stand for at risk. We believe a better world is possible, but we can’t get there without your support. Common Dreams stands apart. We answer only to you — our readers, activists, and changemakers — not to billionaires or corporations. Our independence allows us to cover the vital stories that others won’t, spotlighting movements for peace, equality, and human rights. Right now, our work faces unprecedented challenges. Misinformation is spreading, journalists are under attack, and financial pressures are mounting. As a reader-supported, nonprofit newsroom, your support is crucial to keep this journalism alive. Whatever you can give — $10, $25, or $100 — helps us stay strong and responsive when the world needs us most. Together, we’ll continue to build the independent, courageous journalism our movement relies on. Thank you for being part of this community. |
In an insightful song about outlaws, Woody Guthrie wrote this verse: "As through this world I travel / I see lots of funny men / Some'll rob you with a 6-gun / Some with a fountain pen."
The fountain pens are doing the serious stealing these days.
For example, while you'd get hard time in prison for robbing a bank at gunpoint, bankers who rob customers with a flick of their fountain pens (or a click of their computer mouse) get multimillion-dollar payouts.
They usually escape their crimes unpunished -- but not unscathed. After all, it's their constant, egregious, gluttonous thievery that's made "banker" a four-letter word in America, synonymous with immoral, self-serving behavior.
For example, Wells Fargo, our country's biggest consumer bank, has gotten away with paying some fines for stealing millions of dollars from customers in its notorious "fake accounts" scheme.
But it hasn't escaped the wrath of the Sisters of St. Francis of Philadelphia.
This feisty order of nuns, which holds a block of Wells Fargo stock, is infuriated by the rank immorality of its bank's executives. The sisters are pushing a shareholders' proposal demanding a full accounting of the "root causes" of the malicious fraud perpetuated on vulnerable depositors.
Unsurprisingly, the bank's aloof and arrogant board of directors, which had silently presided over the fraud for years, opposes any such meaningful probe. Such recalcitrance only intensifies the public's outrage and cynicism toward out-of-control banksters.
But the giant worries less about its public image than it does about the reality an in-depth investigation would expose -- namely, that our nation's dominant banks have not only become too big to fail and too big to jail, but too big to manage and control.
To stop that thievery, they must be broken up.
In an insightful song about outlaws, Woody Guthrie wrote this verse: "As through this world I travel / I see lots of funny men / Some'll rob you with a 6-gun / Some with a fountain pen."
The fountain pens are doing the serious stealing these days.
For example, while you'd get hard time in prison for robbing a bank at gunpoint, bankers who rob customers with a flick of their fountain pens (or a click of their computer mouse) get multimillion-dollar payouts.
They usually escape their crimes unpunished -- but not unscathed. After all, it's their constant, egregious, gluttonous thievery that's made "banker" a four-letter word in America, synonymous with immoral, self-serving behavior.
For example, Wells Fargo, our country's biggest consumer bank, has gotten away with paying some fines for stealing millions of dollars from customers in its notorious "fake accounts" scheme.
But it hasn't escaped the wrath of the Sisters of St. Francis of Philadelphia.
This feisty order of nuns, which holds a block of Wells Fargo stock, is infuriated by the rank immorality of its bank's executives. The sisters are pushing a shareholders' proposal demanding a full accounting of the "root causes" of the malicious fraud perpetuated on vulnerable depositors.
Unsurprisingly, the bank's aloof and arrogant board of directors, which had silently presided over the fraud for years, opposes any such meaningful probe. Such recalcitrance only intensifies the public's outrage and cynicism toward out-of-control banksters.
But the giant worries less about its public image than it does about the reality an in-depth investigation would expose -- namely, that our nation's dominant banks have not only become too big to fail and too big to jail, but too big to manage and control.
To stop that thievery, they must be broken up.