'via Blog this'
"5 Ways to break the banks that stole from America"
by Stephen Lerner
August 9, 2012
- Two critical tools--the LIBOR fraud scandal and the potential to start exercising eminent domain to seize bank-owned properties--can supercharge the ongoing campaigns focused on Wall Street. For the first time we can align moral and legal arguments with real leverage to demand that banks renegotiate the debt that is bankrupting communities and drowning homeowners around the country. The single most important step we can take to address local budget deficits is to force banks to renegotiate toxic deals held by local government and to rewrite mortgages for underwater homeowners. Combined, this would pump hundreds of billions into local economies.
- It is time to REBEL against Wall Street and the big banks and to start fixing the economy and reclaim our democracy. There are five steps to this [details in article]:
- Renegotiate public and housing debt.
- Exercise eminent domain.
- Boycott big banks and move public money.
- Enact resolutions at local governments and pension funds.
- Litigate and legislate.
- It is our responsibility to REBEL. All of our futures depend on it!