Wednesday, November 16, 2011

Starve the Vampire Squid

A fine piece of modern art, done in a superb underground comix style, which comes to us by way of Matt Taibbi. I'm especially taken by the Squid's little top hat.

By the way: I've been very amused by the recent spate of commercials that Goldman Sachs has run to burnish its image. Here's another idea: Perhaps Lloyd Blankfein can hand out dimes to children...
Moving the money to a local bank or a credit union is a good way to starve big banks, but it's not going to do the job. Those who have car loans and credit card debt, would hurt the banks more if those loans are moved to the credit unions and local banks. Most big banks won't care if checking accounts go away because it's a service that loses money, but loans are profit centers. Don't give big banks any interest or fees.
Goldmans as a bank holding company has obligations according to the law. I am unaware that it is meeting those obligations. Obligations associated with minority lending, and representation.

They chose to be a bank holding cos they wanted access to cheap Federal Reserve funding. Shouldnt someone somewhere on a committee require them to meet their obligations under the law?

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