Tame the Giant Vampire Squid

“A great vampire squid, wrapped around the face of humanity, relentlessly jamming its blood funnell into anything that smells like money.” That was how journalist Matt Taibbi described Goldman Sachs in a Rolling Stone exposé from 2008.

Now, after what is perhaps the biggest example of private-sector market-failure the world has ever seen, the banking system that fuelled the crisis is fundamentally unreformed. Even on its own terms the banking system is broken.

To design a banking system that is fit for purpose and able to underpin the imminent Great Transition to a new, low carbon, high well-being, and stable economy, we need to revisit the social and economic contract that banks have with society. We must take back our banks.

We need banking that is more like a public service, a utility that helps the productive economy function. This animation from the Great Transition campaign to take back our banks asks: when will politicians find the will to make it happen?

 

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About conferenceofpolluters

This blog is an activist resource for COP17 in Durban. The baseline assumption is that the UNFCCC process cannot deliver an equitable, binding and ambitious outcome, and is a space for government elites and multinational corporations to conspire against the people. Share your tactics (but not details please), possible targets and creative ideas for obstructing the process.
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