raja did you send your memo to NM?

[Crazyfingers]

New Mexico saying 'adios' to big banks

New Mexico's state legislature is moving quickly to move its money out of big financial institutions and turn it over tocredit unions and community banks

[raja]

Re: raja did you send your memo to NM?

New Mexico saying 'adios' to big banks

New Mexico's state legislature is moving quickly to move its money out of big financial institutions and turn it over tocredit unions and community banks

They probably got it from Huffington . . . but she probably got it from me ;)

In any event, we don't have to play the game . . . as individuals, as companies, as states, or even as other countries. (See Max Keiser's recommendation that Iceland Boycott the Big Banks!)

[Rajiv]

Re: raja did you send your memo to NM?

This may be the first step to implement the Ellen Brown strategy

.
.
.
.
Local Government to the Rescue?

The Fed may have played all its cards, but state and local governments still hold a few aces. Some local politicians are looking into the feasibility of opening their own publicly-owned banks, providing them with their own credit machines. A new public bank would have a clean set of books, untainted by the Wall Street addiction to gambling in complex derivatives; and its profits would go back to the local government and community, rather than being siphoned off in exorbitant salaries, bonuses and dividends. A publicly-owned bank could funnel credit where it is needed most, directly into the local economy.
.
.
.
.
.