|
 As part of its continuing series of monthly forums, Post Oil Solutions will sponsor a second presentation on the Common Good Banks. This will take place on Wednesday, April 22, 7:00 PM, in Room 2 East, Marlboro College Grad Center, 28 Vernon Street, Brattleboro.
William Spademan, Project Administrator for Common Good Banks (http://commongoodbank.com/) will again be present to talk about a new kind of community savings bank, designed expressly for economic justice, sustainability and strong local economies, independent of the dollar. Once the first common good bank exists, any community anywhere can start one in a matter of days, using cell phone and internet technology, with no red tape and no need for a bank building. With a dozen innovative features, this is not just another bank with a social agenda. This is a social agenda with a bank!
There will be a discussion with the audience following Mr. Spademan's presentation.
Post Oil Solutions is a partner organization with Common Good Banks. The local organizer for Common Good Banks, Tom Finnell, will also be present.
Our forum is free, with donations to help support the work of Post Oil Solutions gratefully received. Light refreshments will be availabile. For further information: 802.869.2141
|
How does this bank protect investors from a run on its investments?
In reading Paul Krugman's latest book, I'm convinced (as he is) that
we need MORE federal regulation of banks, not less. Before we had a
Federal Reserve and FDIC, bank panics were common all across the
United States, including huge panics in 1837, 1890s, and 1907. The
reason for the 2007/08 collapse, as Krugman wisely notes, is because
the situation in this country had deteriorated regarding regulation, and
many new banks, built entirely free of any FDIC or federal umbrella,
like the housing loan mortgage securities, were vulnerable to collapse
as they were almost entirely unregulated.
I'd be wary of putting any of my money in a bank that doesn't stand
backed up by the FDIC. And hopefully after the deregulation disasters
of the past 25-30 years, we as a nation will tighten up on banks and
lenders again, not letting things get to "pre-1933" levels as they just
have.