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#OWS Alternative Banking meeting today

October 30, 2011

I’m excited to go to the second meeting today of the Alternative Banking working group, whose web page is still a work in progress. We’re meeting at 3pm at Carne Ross’s office.

Dial-in instructions: 

At 3 PM Eastern Standard Time (in the US), please dial: (530) 881-1000
When you are asked to enter the conference code, enter this: 451166
Then hit the pound key (#).

Last week we set up an ambitious agenda for ourselves. After passing the “Move your Money” campaign to Alternative Economy (because they are already on it), we decided to focus on two things:

1) What are the legislative steps we think need to be made to fix the current system? To this end the discussion has been centered on commenting on the Volcker Rule, which the public can do until January 13th.

2) Reimagining our current financial system – what would it look like where our deposits, our retirements, and small businesses weren’t being held hostage by a few powerful banks and corporations? Much of this discussion will probably be centered on how things used to work in this country and how things work or worked in other countries.

In the meantime, I’ll share some great links with you:

  1. Credit unions are seeing a surge in new members.
  2. When you hear “recapitalization of banks,” what does that mean?
  3. How do CDS’s work, and what is going to happen in Greece if their 50% haircut counts as a default?
  4. My hero judge Jed Rakoff tells the SEC to do their job.
  5. More background on Jed Rakoff.
  6. A former derivatives guys explains where Wall St. went wrong and comments on #OWS.
  7. Trick-or-treating tips for #OWS sympathizers
Categories: #OWS, finance, news
  1. Bertie
    October 30, 2011 at 8:17 pm

    So how did the 2nd meeting go?!


  2. October 30, 2011 at 8:59 pm

    It was great! More soon…


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