In 2011, the Occupy movement took on Wall Street and brought the 99% vs. 1% into our collective consciousness. In 2018, the fight against big banks evolves into the creation of People’s Banks - 100 percent accountable to the people, our communities, and our ecological systems.
As Buckminster Fuller once said, we will change things by building a new model that makes the existing model obsolete. People's Banks are that new model.
What do we want candidates to commit to?
We want a new financial system- a socially and environmentally responsible city-owned public bank. We want anti-corruption clauses, with bankers held accountable to public scrutiny. We want a bank bound to 100% transparency, managed by a board of directors comprised of the People- champions of community development and activism as well as financial experts.
We want a public bank for 4 central reasons:
1. Ethical Allocation of Money- Social, environmental and transparent anti-corruption ethos.
2. Community Development- Focus on low-income housing, green energy infrastructure, homelessness, co-ops, small businesses, etc.
3. Save Money- The city pays $100M a year in banking fees and interest. This can be reinvested into the community instead of siphoned by private shareholders.
4. Local Self-Determination- The people of the city will have a say over the financing of their own community- not private financiers.
Food & Water Watch allies will also be in attendance, amplifying their campaign to hold elected officials accountable to an ecologically sustainable future. Wear red in solidarity.