16. Oktober 2008

Buying in instead of bailing out

Instead of intervening in the public interest politicians are making the financial crisis worse by bailing out the reckless bankers. Earlier this week I signed a petition supporting a "buy-in" rescue package This call will be delivered to the world's top finance ministers at the end of the week. I want to share this petition with you because Avaaz, the NGO behind this action, is definetely no radical group but calls for a public ownership in central financial institutions.

I leave you with some lines of this transnational NGO. The whole argumentation can be found here.

"...Together, we must make sure that governments don’t just use our money to bail out the banks, but claim a share of public ownership in these institutions for our future, and oversight powers to fundamentally fix the wider system ...
How we respond to this crisis will shape our lives for years to come. We're still a long way from tackling the fundamental problems of the global economy, but the tide is moving in our direction. So let's take control of our future in the interests of people not financiers, and raise a worldwide voice across borders for a global public rescue..."

And what about a further democratic control of key institutions and enterprises? There is a window of opportunity because neoliberalism as the predominant ideology of the capitalist economy in the last years and capitalism itself are no longer practically unchallenged. Even the politicians in charge had at least to change their rhetoric. But let's get radical for real in theory and praxis - it is time!
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