A Quote by Edward Conard
We have to make sure that the banks pay every nickel of loan losses that they create, but we don't want to hold them responsible for withdrawals if we want the economy to recover.
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If we want the banks to lend - and we all do - if we want the economy to expand - and we all do - do you really want to start confining the banks in their ability to make profits in order to generate more capital to lend out to the people?
Make the financial industry pay for its mistakes. That's the idea behind the best of the Obama administration's reform proposals: If banks issue securities backed by mortgages, say, then require them to hold some of that paper so that they will bear some of the losses.
Our goal is not to assume leadership of existing institutions, but rather to render them irrelevant. We don't want to take over the state or change its policies. We want to render its laws unenforceable. We don't want to take over corporations and make them more 'socially responsible.' We want to build a counter-economy of open-source information, neighborhood garage manufacturing, permaculture, encrypted currency and mutual banks, leaving the corporations to die on the vine along with the state. We do not hope to reform the existing order. We intend to serve as its grave-diggers.
The major studios are by and large banks, and they give you what is by and large a loan to make a movie. Like banks, they want their money back plus.
To save the banks from making losses that would wipe out their net worth, you'll have to get rid of Social Security. It means that you'll essentially have to abolish government and turn it over to the banking system to run, with an idea that the role of governments is to extract income from the economy to pay to the bondholders and the banks.
We've got to be able to have a conversation and recognize we're all Americans; we all want the best for this country. We may have some disagreements in terms of how to get there, but all of us want to make sure that our economy is strong, that jobs are growing. All of us want to make sure that people aren't bankrupt when they get sick. All of us want to make sure that young people can afford an education.
If we want to make the most of half of our workforce, if we want to eliminate the gender pay gap and we want that same half of the workforce to succeed in jobs that boost our economy, we must make sure that teenage girls don't feel, and are certainly not told, that certain subjects are the preserve of men.
It's wrong to rob banks, yeah, but is it right for banks to loan people money, knowing full well they can't pay it back?
The core principle is that we want an economy that works for everyone, not just for a small elite. We want equal opportunity, not equality of outcome. We want to make sure that there's upward mobility again, in our society and in our economy.
You don't want to depend on an editor. If you want to regret something for the rest of your life, you want to make sure you're responsible for it.
If you want to remain a slave to the banks and want them to pay the cost of your own slavery, then let them continue the issue of currency control and regulate the money supply of the nation.
The financial crisis was linked to the fact that banks had excessive leverage and too many risky assets. The solution is not to try to dictate to banks what they can do or not do, but to require them to strengthen their capital to absorb potential losses and hold less risky assets.
All the sounds that I make, I want to make sure there are new stuff. I don't want to follow anyone's path or anything, I want to create my own sound.
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist before - private for-profit universities that sell junk degrees that don't help the students. They promise the students, "We'll help you get a better job. We'll arrange a loan so that you don't have to pay a penny for this education." Their pet bank gets them the government-guaranteed loan, and the student may get the junk degree, but doesn't get a job, so they don't pay the loan.
There's one other element I just want to be sure to mention here: that is that there are 43 million young people who are locked into predatory student loan debt for whom there is no way out in the foreseeable future given the economy that we have: this predatory Wall Street driven financialized low-wage service industry economy.
I don't want to create responsible shows with lawyers in them. I want to invade people's dreams.
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