New Mexico fighting Big Banks

[Misthos]

This is an interesting development. By a vote of 65-0, the New Mexico State Legislature voted to move some $2-5 Billion in state funds from big banks to smaller local banks and credit Unions.

Governor Richardson supports this bill.

Will more states follow?

http://www.huffingtonpost.com/2010/02/09/new-mexico-house-votes-65_n_456043.html

 

[wavel]

That is an interesting development. Perhaps its time for the big banks to lobby congress in order to ensure that nobody can have a banking license unless they have atleast 1 billion in capital, or nobody can operate a credit union unless they are an introducing client for the big banks.

 

[Misthos]

Quote from wavel:

That is an interesting development. Perhaps its time for the big banks to lobby congress in order to ensure that nobody can have a banking license unless they have atleast 1 billion in capital, or nobody can operate a credit union unless they are introducing client for the big banks.

I know you're being half serious - but there's truth to what you say. The banks control the Senate and the Presidency - they are central bodies that control a large portion of the country. The House of Representatives has 435 members - kind of difficult to control as opposed to the 100 member Senate. And Senators have bigger campaign budgets. The Audit the Fed bill with 200+ cosponsors in the House is an example of a challenge the Banks face.

But no way could the big banks inflitrate all 50 state legislatures - it's just too big a task. You're talking about thousands of legislators here. Thus, if this gained traction, they would try to do something on the Federal level to combat it - impacting states' rights in the process.

 

[the1]

Which would probably lead to succession. Let's hope they try it.

Quote from Misthos:

I know you're being half serious - but there's truth to what you say. The banks control the Senate and the Presidency - they are central bodies that control a large portion of the country. The House of Representatives has 435 members - kind of difficult to control as opposed to the 100 member Senate. And Senators have bigger campaign budgets. The Audit the Fed bill with 200+ cosponsors in the House is an example of a challenge the Banks face.

But no way could the big banks inflitrate all 50 state legislatures - it's just too big a task. You're talking about thousands of legislators here. Thus, if this gained traction, they would try to do something on the Federal level to combat it - impacting states' rights in the process.

 

[Scataphagos]

Quote from the1:

Which would probably lead to succession. Let's hope they try it.

Let's hope... and several other join in.

The Federal Government has become "too big for it's britches".. and unless opposed and beaten back, will ruin the future of America for all of our children and grandchildren. How could anybody except the power elites want that?

The Left, Socialist, Commie, Progressives should move to Venezuela, Cuba or France so they can be happy... not destroy America.