David Korten Frames the Issues for Occupy Wall Street

This is an excellent video from an erudite scholar of our economy.  David Korten is the author of When Corporations Rule the World and is here to tell us that we don’t need Wall Street in its current form.  It is just messing up the economy with corruption and financial warrior tactics to protect and further enrich the elite.  We need local banks and local economies.  The notion is radical — what will we all do with our 401K’s if there is no Wall Street?  Go back to having a savings account and earning 3% interest a year. Actually that doesn’t sound half bad.  The problem is banks are paying less than 1% interest right now.

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8 responses

  1. It’s a little hard to take people seriously when they’re trying to channel Chicago ’68 and conducting themselves like swine on public property,blocking traffic,etc.
    Given the way they act,who cares what their point is?
    Now Providence will be subjected to the raucous Brown trust fund brats who have exactly NOTHING to whine about.
    Maybe they oughta sit in at Ruth Simmons’ office-the member of the board at Goldman Sachs,uh,oh-that wouldn’t be politically correct,would it?
    That said,solvent local banks are a good thing.
    Bank RI,Newport Federal,and Washington Trust are good examples.I think Bank RI just got gobbled by a bigger institution though.Too bad-Meryl Sherman ran a nice operation there.

    1. “raucous Brown trust fund brats”????
      Wow. Bitter much?

      Take a deep breath.
      Step back and look at the huge diversity of the protestors.
      Pay more attention please.
      Trust fund brats are not a good description of the people wanting change. Trust fund brats have trust funds (money) and don’t need change.

      1. With all due respect,you’re in Kansas and I’m here-I recognize the players to some degree-tired old 60′s types who never stopped protesting;Brown students(I really don’t know their trust fund status)who have all the answers and also have that annoying tendency to finish sentences like they’re asking a question(peculiar to very liberal colleges);local anarchists who are trying to channel organizations from the past,etc.
        You know,we have an IWW group here!!What a joke.the real Wobblies were actual workers and extremely violent-bombing and shooting their way into history.
        If these kids got a good blast of CS they’d run home pissing their pants.
        I have been CS’d a few times,so I know what it’s like.
        Providence is hardly Wall Street.The park they are “occupying”is normally used by kids who just got out of school for the day;drunken bums with jugs in paper bags;and mental patients receiving “community care”.
        They oughta sit in at the fancy park on the wealthy East Side.
        They have no plans for portable toilets.Nice.This’ll turn into a filthy health hazard with people relieving themselves on the ground.
        Dog crap is bad enough,but dogs don’t know any better.
        I’m not bitter,just disgusted.
        And I don’t like the Wall Street execs any better.

  2. Kiersten, here’s a great liberal blog that’s local for me. If you have any time, you might check it out.
    http://duanegraham.wordpress.com/

  3. Observer, you do seem very disgusted with the world.
    If my comment only fueled that disgust, I apologize.
    I only ask that you see people for what they are…people. Disgustingly flawed creatures, I know.

    Now that I’ve apologized, I must say you worry me.
    Anyone wishing a blasting of CS on somebody else has anger issues.
    You are not sounding much better than the “mental patients” you rail against.
    I hope you find some peace of mind somewhere.

    1. Hey,when people shut down public thoroughfares so no one can get to work or wherever,or when they start smashing windows,looting,and otherwise causing damage to public and private property,then CS or something similar is effective,not deadly,and appropriate.
      Don’t try psychoanalyzing me-you’re not qualified.
      I wouldn’t try to classify you.I read what you say and that’s it-I’m not going to try and figure you ouyt,because guess what?I’m not qualified either.
      BTW,CS really gets your attention,unlike CN.
      Hey,at least I didn’t suggest DM,which can be dangerous(and I’ve been hit with that too during NBC training in the military).

    2. Oh,yeah,sekanblogger,I shouldn’t worry you-I’m 65 and never had any problems with my behavior-no DUI,no domestic violence,not single abuse allegation in 26 years of law enforcement,and I didn’t push paper on that job buddy.
      I guess in your world view,anger and disgust are only healthy when coming certain side.

  4. Check this out. It will give you a very graphic demonstration of what is at stake, and what we should all be protesting.

    Lots and lots of graphs.

    http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1

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