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Ciaran · 10-06-2011, 09:08 AM

There is no doubt that there is need for reform of the banking system. However, the "Platform" / "Declaration" of this movement (as noted in the OP) reads to me like something that an emotional teenager would write.

It's trying to be all things to all people (well, all people with the exception bankers) and, furthermore, is scapegoating the banking sectors for many universal problems. These issues were in existence long before the modern banking system and will continue to exist long after the current banking system is redundant.

Aspects of the banking system may facilitate inhumanity (i.e. fundings of ammunition manufacturers etc) but it's not the driver of inhumanity.

Investors (equity and bondholders) need to take the pain - they have done so and are continuing to do so as this financial crisis evolves. However, some of us as individuals need to accept responsibility for our indebtedness too .... yes, a financial institution may have offered us a large mortgage that we would struggle to pay even if the good times lasted and, yes, we may have been offered significant amounts of unsecured credit. However, we are adults and need to accept the decisions we made and the risks that we have taken.

10-06-2011, 09:08 AM	#64
Ciaran Member How Do You Identify?: Altocalciphilic Preferred Pronoun?: Papa Smurf Relationship Status: Curmudgeonous spinster Join Date: Nov 2009 Location: London (but from Belfast) Posts: 678 My Photo Gallery Thanks: 471 Thanked 3,654 Times in 602 Posts Rep Power: 21474852	There is no doubt that there is need for reform of the banking system. However, the "Platform" / "Declaration" of this movement (as noted in the OP) reads to me like something that an emotional teenager would write. It's trying to be all things to all people (well, all people with the exception bankers) and, furthermore, is scapegoating the banking sectors for many universal problems. These issues were in existence long before the modern banking system and will continue to exist long after the current banking system is redundant. Aspects of the banking system may facilitate inhumanity (i.e. fundings of ammunition manufacturers etc) but it's not the driver of inhumanity. Investors (equity and bondholders) need to take the pain - they have done so and are continuing to do so as this financial crisis evolves. However, some of us as individuals need to accept responsibility for our indebtedness too .... yes, a financial institution may have offered us a large mortgage that we would struggle to pay even if the good times lasted and, yes, we may have been offered significant amounts of unsecured credit. However, we are adults and need to accept the decisions we made and the risks that we have taken.