SOLO-International: Bail out of these Banks!
SOLO-International Press Release: Bail out of these Banks!
October 14, 2008
"Today's $250 billion bank bailout is simply appalling," says SOLO spokesman Aaron Bilger.
"It's the latest step of the $700B bailout Congress approved, and gives tens of billions of dollars directly to each of nine major banks, in exchange for the government getting eternal, voting shares in the respective banks. At the expense of American citizens, this achieves massive corporate welfare, subsidization of failure, and nationalization of banking all in one fell swoop.
"There's probably little to be done about this newest fascism on the government side. Many citizens already wrote their Congressmen - vocally opposing the bailout by a wide margin weeks ago - only to be ignored.
"However, people can send a message to the other half of the equation, the major banks complicit in this quasi-nationalization. The culprits:
Bank of America
Bank of New York
"I have not yet found news on the remaining two of the nine, or the exact amounts of all payouts, but am looking for this information and will update with it. These banks are voluntary recipients of this corporate welfare, eagerly receiving money taken from us the taxpayers by force. Fortunately we do still have the choice to bank elsewhere.
"I'm removing funds deposited in Bank of America and Chase, and canceling credit cards with them as soon as possible, and letting them know why. I'd previously been a happy customer of both, but cannot condone their taking stolen funds and contributing further to the destruction of the free market. I hope anyone else who opposes this latest slide toward fascism will also move their accounts, cards and if possible, mortgages, from this band of thieves as well. The government picked our pockets for them; they don't need our business," Bilger concludes.