Leftists have never liked banks much, but well, here's something sure to flip their position:
Government-owned banks, same as they have in third-world hellholes. That's the new swamp gas emanating from the Soros crowd, same people who brought you the criminal justice 'reform' fiasco such as no bail, and let-the-criminals out of jail, same people who brought you pot-addled drivers on the nation's roads, same people who encouraged the illegals caravan surges, and the green new deals. Now it's government-owned banks.
The Soros-financed proposal, from former Chicago alderman in the pay of Soros, Ameya Pawar, is to have them model their banking considerations on social-justice-warrior priorities.
“Organize Capital: The Case for Public Banks” is to be released next spring by University of Chicago Press.
Pawar promises a “book about creating a network of state and local public banks to address inequality, poverty and finance in an inclusive community.”
No social-justice-warrioring, no loans for you. What better than to have government bureaucrats who can't be fired making decisions on which entities are and aren't credit-worthy?
And given the importance of banks to the economy (their product is money -- no money, no economy), this is a government takeover bigger than Obamacare.
“We’ve allowed money into politics, but we don’t allow politics into money. We don’t allow our social justice or climate-friendly investment thinking into investment banking, but we certainly allow the investment bankers’ money into politics.”
The book will be the culmination of two fellowships Pawar has done since leaving office.
The first is through the George Soros’ Open Society Foundations. That’s paying Pawar to pursue his interest in “how we can reimagine public finance to finance the public good.”
It's euphemistically called 'a public banking system,' sounding curiously similar to Medicare-for-all. The idea is presumably that the two systems can sit side-by-side and people can choose which one they want to patronize. But with one of those sides not needing to worry about making a profit or even make payroll, and the other desperately in need of paying attention to all of those details to stay 'sustainable,' it's pretty obvious which one of these is going to win out over the other.
That would be the same sort of entities that created the ghost cities of China. Or the crony banks of Indonesia and South Korea in the 1990s. None of this stuff is about the private sector, it's all government hog troughing.
What's disturbing here is that this is basically indistinguishable from communism. A government takeover of health care was first, and before that was even finished, there's now talk of a government takeover of banks.
Salami tactics, as the olde-tyme communists used to say. And Democrats are sure to embrace it as their own.
Time to nip this bad idea in the bud.
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