How To Liberate America from Wall Street Rule
A Report from the New Economy Working Group
Posted June 10, 2018
In 2008, Wall Street plunged the U.S. economy into the worst crisis since the Great Depression. Wall Street received a generous public bailout and quickly recovered. Main Street continues to languish. Politicians and pundits rarely inquire into the reasons for the disparity. Doing so would expose the reality that the United States is ruled as a plutocracy, not a democracy, and would focus citizen anger on the structure of the institutional system that gives Wall Street bankers their power.
The 2008 financial crash was a direct and inevitable consequence of a social engineering experiment conducted by Wall Street interests that allowed Wall Street financial institutions to consolidate their control of the creation and allocation of money beyond the reach of public accountability. The priority of the money system shifted from funding real investment for building community wealth to funding financial games designed solely to enrich Wall Street without the burden of producing anything of real value.
The proper function of money is to facilitate the sustainable and equitable utilization of resources to fulfill the needs of people, communities, and nature. This calls for a community-based and democratically accountable system of money, banking, and finance that functions to create and allocate money as a well-regulated public utility. Such a system would be remarkably similar to the one that financed the United States’ victory in World War II, produced an unprecedented period of economic stability and prosperity, made America the world’s industrial powerhouse, and created the American middle class. More…
This report provides real solutions to the many problems we face. It attacks the root cause, rather than focusing on the symptoms. After reading this report you will have a clear road map of what needs to be done in order to bring about real change in our system.