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Web Letter

Not so fast, David Hewitt: You say that state banks, while appealing, will not happen any time soon because "Congress is in thrall to the banksters." We can easily prevent this by throwing out all incumbents of both parties of our totally corrupt Congress in November, and if they become beholden by bribes, we can throw them out also two years later etc.--until they get the point. We can get rid of the AIPAC strangulation that way as well. Our only enemy would be Diebold, but we can start demanding an end to Diebold starting now. Why do we tolerate such blatant fraud? I see no alternative. Our one-party rogue dictatorship has to end, or we are doomed.

stanley hersh

New York, NY

Mar 15 2010 - 8:37am

Web Letter

I have been saying this for a year now, even sent a letter to Obama on setting up our own banks. Everyone knows the banks together with Federal Reserve are cleaning our pockets with fees, interest, credit cards and the like. If our tax money is borrowed by us, the interest earned will be spent for our benefit, like healthcare, Social Security and Medicare. It could clear up the deficit sooner, since we will not pay multimillion-dollars bonuses, neither we will build mansions offshore. It seems strange to me that tax dollars are given for few cents to private corporation to enrich them. Our pension plan could be invested in it with interest gained on the loans.

It would also be in our best interest not to default and we can have lower interest rates so we can keep more profit for our business. That is freedom... and we get to vote on who runs the banks and we get to fire them also.

I am for it.

Raffaela Cox

Fredericksburg, VA<a name="hewitt"></a>

Mar 12 2010 - 7:12pm

Web Letter

I find the idea of state banks extremely appealing. It may catch on in various states, but probably not in all any time soon. Congress is in thrall to the banksters. If only we poor folks could muster the capital to do it ourselves.

The idea expressed by Joseph Stiglitz, that we could have used the $700 billion bank bailout money to create a new financial institution and lever at 10 to 1 to create 7 trillion in new lending capacity, is another missed opportunity. (Add that to the missed opportunities to re-regulate the financial sector, and to start the healthcare reform process with single-payer.)

If Congress can't get the job done, and if the state legislatures can't get the job done, and if I start dreaming about "we the people" getting together to form state banks, and a not-for-profit health "insurance" company, does that mean I'm turning into a "socialist"?

David Hewitt

Racine, WI

Mar 12 2010 - 2:11pm

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