A repost/expansion on the fall of Madison's Republic

[hfojvt]

49. I'd like to see flying pigs break the sound barrier too

but some things are simply NOT gonna happen in my lifetime.

The bailout began when Bush was President. You know, the guy who vetoed S-chip expansion. So "arresting the bankers" was not gonna pass over his veto. There was NOT huge public support for nationalized banks, nor for mass arrests (of which bankers?)

Also, I am NOT that impressed with the credit unions I have belonged to. They just seem like banks with slightly higher interest rates. The one refused to lend me money for a car. I was a member once with something like $8,000 in my account. For perhaps three years, until they closed their downtown office and bought a place about three miles out of town. So I closed my account rather than going that far to do my banking. Four years later I am looking to borrow $3,000 to buy a car. They, however, have no interest in lending to me. (Of course, the bank where I had my checking account and wrote about $10,000 worth of checks every year, was not interested either.)

My current credit union claims to be non-profit, but it has $11 million dollars in accumulated profits that they keep adding to. I proposed to the board that half of the years profits be given back to members, monthly over the next year. (Actually my proposal was 40% to members and 10% to employees) but no, they just wanted to keep piling up reserves and investing it who knows where.

If we the people want to replace banks with credit unions, we have the option of putting our money in those credit unions. Something I have been doing for over a decade.

Bottom line is, that it was better to do what we did than to do nothing. It's not the end of the world that the banking system was not allowed to collapse. It's not the end of our freedom either. It's not the end of the world that the Democratic Party is not the socialist party. Hell, moderate Democrats are getting beaten by conservative Republicans. I don't think the public is gonna start electing socialists, no matter how upset that makes some leftists.