Economic injustice is something very familiar to anyone who is paying 28% for a car loan, or who has lost their home due to foreclosure, or who has lost their job, or who is otherwise a slave to systematically induced debt. The banking and monetary systems in the USA are designed to create economic injustice -- and we've had enough.
As a coalition, our aim is to move the public discussion forward on how to best stop the Wall Street banks AND to take actions that will achieve this. We've identified some initial areas in which to focus -- these will be expanded over time. Look for our press releases via news alerts in the days ahead.
People who wish to stay informed on how to stop the banks can do so simply by signing up on our mailing list. We’ll be providing fresh ideas on matters involving credit, currency, criminology and policy -- anything, frankly, that will put us closer to stopping the banks and restoring economic justice through a democratic economy.
Why Stop the Banks?
Should the monetary system be controlled by private individuals for their own benefit? Or, should it be a public resource, democratically serving the many, whose tax dollars support it? Some feel that it should remain under the pyramid of private control, from which the largest banks have come to control the corporations, governments, and natural resources of most of the world. In other words, they believe in the core of existing system and are committed to change only the margins.
Others, like the people and organizations who are part of the Stop the Banks coalition, believe in a democratic economy – with a monetary system that is democratically managed by public institutions. We believe that we must end the hegemony and fraud so evident in the existing private monetary system.
The Wall Street banks control this system. We believe they should be stopped.
Coalition Members
Coalition Members
Stay Informed
We Agree to Support:
Federal and State Legislation to end the Payday Lending Industry
Bringing the Federal Reserve under the Federal Government
Passage of Legislation to Create State-owned, county-owned, and city-owned Banks
Use of the Monetary Policy to Create Full Employment
Bringing the Federal Reserve under the Federal Government
Passage of Legislation to Create State-owned, county-owned, and city-owned Banks
Use of the Monetary Policy to Create Full Employment
Our Approach
We expect there will be critical developments in 2012 regarding the Federal Reserve, public banking, monetary policy, and the Justice Department. Our policy experts will keep you informed and up-to-date in our Stop the Banks news alerts, as well as articles and opinion.
How to Stop the Banks
Stop Payday Lending
Not only are our service men and women, who have risked their lives for this country, gouged by banking and financial services firms for banking services, but this rapaciousness extends into communities across the land, with banks and other financial service organizations preying upon those who can least afford it. Enough of this amoral exploitation!
We can do better -- we support federal and state legislation that prohibits payday lending throughout this country and public banking for the unbanked.
We can do better -- we support federal and state legislation that prohibits payday lending throughout this country and public banking for the unbanked.
Stop Foreclosure Fraud
The Mortgage Electronic Registration Systems, Inc. (MERS) fraud foisted on the American Public is being recognized and documented within an increasing number of County Recorders' Offices. But, with each foreclosure, the existing system, where Wall Street banks have their way because of a (mis)perception that "the law is on their side," continues to rob communities of their economic assets and vitality. Enough of this theft!
We can do better -- we believe it is up to state and local governments to make use of the tools at their disposal, including the power of eminent domain, land banks, and publicly-owned banks, to restore the rule of law and banish the blight, chaos, and economic distress wrought by Wall Street behind the MERS sleight-of-hand.
We can do better -- we believe it is up to state and local governments to make use of the tools at their disposal, including the power of eminent domain, land banks, and publicly-owned banks, to restore the rule of law and banish the blight, chaos, and economic distress wrought by Wall Street behind the MERS sleight-of-hand.
Stop Student Debt Slavery
Whether you believe college education is a right or a privilege, there is no argument that it benefits society -- the GI Bill proved that. Many people older than 65 can remember when college at a public university was free; but today, we've transferred this cost to the people who are least able to afford it -- students. As a result, students sell their futures to the private banks who have usurped the government’s power to issue student loans. Enough of this debt slavery!
We can do better -- we believe that states can fund public education with public credit simply by using the low cost financing capacity of public banks. As Eric Hardmeyer, CEO of the Bank of North Dakota said, “We have a specific mission ... that's not necessarily bottom-line driven.” That mission is to serve the people whose taxes support the system, not the banks the divert these taxes into their own pockets.
We can do better -- we believe that states can fund public education with public credit simply by using the low cost financing capacity of public banks. As Eric Hardmeyer, CEO of the Bank of North Dakota said, “We have a specific mission ... that's not necessarily bottom-line driven.” That mission is to serve the people whose taxes support the system, not the banks the divert these taxes into their own pockets.
Stop Policies that cause Unemployment
The banks posit that the private sector is the best solution to massive unemployment, ignoring their own concerted efforts to choke the money supply, cut jobs, and bring about bankruptcies, foreclosures, and bad credits, making it easy for them to steal the fruits of our labor at fire sale prices. Enough of this passivity!
We can do better -- we believe that states, counties and municipalities should create public banks with lending policies that create jobs. We also believe that the federal government should redefine monetary policy so that the public good -- full employment -- is the objective.
We can do better -- we believe that states, counties and municipalities should create public banks with lending policies that create jobs. We also believe that the federal government should redefine monetary policy so that the public good -- full employment -- is the objective.