PLEASE HELP SPREAD THE WORD
  

/RegulateBanking


National, state, corporate and personal debt are at all-time record high levels. This debt-based economic model is one of the main reasons that wealth has been transferred into the hands of an extremely small minority of people.

​Banks create "money" out of thin air. The vast majority of people do not understand what "money" is and how it really works. THAT is the root of the problem.

We support dramatic changes to the banking industry.
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We must reinstate Glass-Steagall type regulations in order to separate risky investment banking from depositors' savings.
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​The three videos below are probably the most important videos on this entire website because 99.999+% of the world does not comprehend the reality that is explained in the two videos below. I realize that the first video discusses banking in London and that the third video is nearly one hour long.

Please watch these three videos multiple times. Once you fully comprehend this information, you will realize why Henry Ford said that this information could spark a revolution.
  
  
  
​We agree with the 2016 Green Party Platform:
"Since finance, banking, and insurance institutions occupy a privileged position of power at the center of commerce, this special advantage brings with it special social responsibilities. We must ensure that the institutions chartered for these roles take that responsibility seriously and serve the public interest.
  1. Reform the financial industries to eliminate usury (exorbitantly high interest rates on loans) and ensure that they meet their obligations to taxpayers and local communities."
  2. "Break up our nation’s largest banks and financial institutions so that none is “too big to fail.” End taxpayer-funded bailouts for banks, insurers and other financial companies.
  3. Regulate all financial derivatives, ban any predatory or gambling use of derivatives, and require full transparency for all derivative trades, to control risk of systemic financial collapse. Require regulatory pre-approval of exotic financial instruments.
  4. Re-enact the Glass-Steagall Act, which prohibited bank holding companies from owning other financial companies and engaging in risky economic transactions.
  5. Oppose the federal government being the final guarantor of speculative investments. During a financial crisis, if the federal government and/or a central bank must provide relief, it should be given in an equal manner and at the most local level possible, so that benefits are equitably dispersed and burdens are equitably borne. So rather than pouring trillions of dollars into the banking system, they should have provided direct mortgage relief to homeowners suffering the most from the housing bubble and negotiated with lenders to provide partial loan forgiveness.
  6. Ensure that low and middle income people have access to banking services, affordable loans, and small business supporting capital, especially through credit unions.
  7. Oppose disinvestment practices, in which lending and financial institutions move money deposited in local communities out of those same communities, damaging the best interests of their customers and community.
  8. Support the extension of the Community Reinvestment Act to provide public and timely information on the extent of housing loans, small business loans to minority owned enterprises, investments in community development projects, and affordable housing.
  9. Strengthen disclosure laws, anti-redlining laws, and openness on the part of lenders regarding what criteria they use in making lending decisions.
  10. Oppose arbitrary or discriminatory practices that deny individuals or small business access to credit.
  11. Support development of charter community development banks, which would be capitalized with public funds and work to meet the credit needs of local communities.
  12. Support the expansion of co-operative credit unions.
  13. Prosecute criminal banking speculation. Penalties should include prison terms, revocation of corporate charters and confiscation of corporate and individual assets."
  
https://thenextsystem.org/learn/stories/campaign-public-banks-coast-coast
 
Support smaller, local public banks.
  

​We agree with the 2016 Republican Party Platform:
"We support reinstating the Glass-Steagall Act of 1933 which prohibits commercial banks from engaging in high-risk investment."

We agree with Elizabeth Warren (2020):
"Our financial system doesn’t even serve a huge slice of the country. A quarter of American families don’t have sufficient access to the banking system — including a disproportionate share of families of color. On average, these families spend about 10% of their income in interest and fees stemming from their lack of access to basic banking services. That’s roughly the same percentage of income that families spend on food. This is an unacceptable cost we are imposing on the families that can least afford it, and we can do better.

That’s why I have spent years advocating for postal banking — allowing the United States Postal Service to partner with local community banks and credit unions to provide access to low-cost, basic banking services like checking and savings accounts at post offices and online. The Postal Service Office of Inspector General has presented a few different approaches to use postal banking to provide more access to more people. And because the Postal Service already offers some financial services and has the legal authority to expand on those offerings, postal banking requires no new legislation — just new appointees who are committed to the cause.

Thanks to an outdated system at the Federal Reserve, it can take days for a check to clear. If payday is the 30th of the month and rent is due the next day, too many working families face the choice of paying a late fee to their landlord, an overdraft fee to their bank, or a sky-high interest rate to a payday lender."

​We agree with the For a People's Party Platform:
  1. "The massive too-big-to-fail banks are much larger and more consolidated than when we bailed them out after causing the Great Recession. They are threatening to crash the global economy and wipe out millions of jobs again. Public banks like the Bank of North Dakota are driven by service to their community rather than the profits of distant, giant multinational corporations. They make affordable loans to small businesses, farmers, students and government agencies. They save taxpayers’ money on infrastructure projects, eliminate billions in banking fees and keep profits in the local community - funds that can be returned to the people in the form of better schools, more libraries and lower taxes."
  2. "Revive Glass-Steagall
  3. Break up the big banks.
  4. End too-big-to-jail and hold accountable financial executives who defraud the public.
  5. Pass a financial transactions tax and regulate the sale of derivatives. 
  6. Reduce and cap credit card interest rates.
  7. Eliminate conflicts of interest and increase transparency at the Federal Reserve. 
  8. Enforce stricter oversight of banks, revoking the banking licenses for those that repeatedly engage in criminal, fraudulent, discriminatory and negligent activity at the public’s expense.
  9. Immediately revoke the licenses of banks found to be financing terrorism and drug cartels that presently get off with minor fines.
  10. Prohibit banks from writing off fines from criminal activity as tax deductions.
  11. Expand public banking and postal banking.
  12. Charter state banks in each state as well as a national postal bank, similar to the one that many developed nations have."