REBEL YELL: In Scotland, People Demand “Banks for the Common Good” to Overthrow Multinationals

Excellent, thank you! Social justice activists from all countries should take up this call; so are we, in peace

RIELPOLITIK

Source – occupy.com, By Nika Knight

– In a new report focused on Scotland, but which has global implications, a coalition of social justice groups in the U.K. outlines the risks inherent to an economic system built to serve mega banks, and advocates for the radical reform of replacing these multinational conglomerates with small, local, and not-for-profit “people’s banks” that would serve citizens instead of shareholders.

Progressives have long argued that corporate banking is an enormous threat to the global economy, as the 2008 economic crisis clearly demonstrated. What’s more, the situation has only grown worse as multinational mega banks continue to merge and consolidate – a trend that shows no signs of stopping.

This latest call for local, publicly-owned “people’s banks” joins a growing movement that has argued for such democratic reforms to banks in the U.S., Europe and around the world.

The report, called “Banking for the Common…

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