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Peasants Storm The Castle - Hundreds Of Activists Descend On JPM Chase Shareholders Meeting

Read the story at the Washington Post...

Video - Activists storm JPM Chase shareholders meeting in Ohio - May 17, 2011

The activists in the clip are from National People's Action, a leftist group that wants "economic and racial justice," but even conservatives, libertarians and independent voters can agree with their take on the Too Big To Fail banks.

From their website:

Problem: It would be hard to dream up a story as incredible as this – the same financial institutions that drove a record foreclosure crisis, sent our economy into a deep recession, and needed billions upon billions in taxpayer bailouts, are back to raking in billions in profits and continue to spend millions to block any type of common sense financial reform.

Big Banks—like Wells Fargo, Goldman Sachs, Bank of America, JP Morgan Chase, Citigroup—continue to:

  • Award themselves huge paychecks and bonuses;
  • Foreclose on thousands of families everyday;
  • Finance payday lending operations;
  • Charge outrageous overdraft and other fees;
  • Set sky high interest rates;
  • Spend millions to lobby against common sense reforms that would help protect everyday people from future economic turmoil.

Too big to fail, too big to exist

In the US today, three banks hold almost 34% of the nation’s deposits, four banks issue 50% of the country’s mortgages and the five largest credit card lenders control 74% of the market.

These companies have a stranglehold on our wallets. And as we’ve seen, when they make bad decisions, they can take the whole economy down with them.

Break up the Big Banks

New laws should be put in place that minimize the risk of the “too
big to fail” problem. No single institution should be in control of such a large part of the market. Instead, we should encourage a vibrant, diverse, stable banking system, made up of thousands of small and medium size banks.

Strong competition policies and antitrust laws will encourage financial institutions to invest in productive activity, instead of investing in changing the rules of the game or manipulating the market.



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Reader Comments (12)

nice work dr. p....
May 18, 2011 at 9:47 AM | Registered CommenterDailyBail
University Insiders: Illegal Immigrants Get Affirmative Action

May 18, 2011 at 9:51 AM | Registered CommenterDailyBail
Dr. P--

We shot footage of the protest, including the arrest of a dude dressed as Robin Hood. We made friends with the good folks from NPA, a Chicago group.
May 18, 2011 at 11:53 AM | Unregistered CommenterCheyenne
cheyenne...wondered if you and your crew might be there...
May 18, 2011 at 12:50 PM | Registered CommenterDailyBail
I like these guys dedication, bless these hoods in the wild forest of humanity.
May 18, 2011 at 7:18 PM | Unregistered CommenterLd Elon
I've been mad at Americans for a long time for being so submissive. God bless the NPA for their imagination and willingness to speak out.
May 18, 2011 at 9:53 PM | Unregistered CommenterFrances
We need a "Lot More of This".......The people are realy starting to wake up. Thank You Obama, for Spitting in Our Face and teaching just how courpt this goverment, big Banks, big Pharma, are today.

Great find Doc-P....................
May 19, 2011 at 6:17 PM | Unregistered CommenterTexas Dar
In David Frost's October 2007 show, Pakistani Prime Minister candidate Bhutto stated quite emphaticly that Bin Laden had been dead since 2001. The CIA and Pakistan's ISI collaberated in her MURDER right after she returned to Pakistan to run against Mushareff. As for JP Morgan, Goldman Sachs & the other CIA-Drug-Money-Laundering banks of the 16 'Too Big To Fail', they've been LOOTING & PILLAGING the Economy for over 2 DECADES while WHITE AMERICANS SLEPT! Perhaps there's still time for them to WAKE UP and RETAKE THEIR NATION from the 500 WEALTHIEST OLD WHITE BENEDICT ARNOLDS running it!
May 21, 2011 at 2:50 AM | Unregistered CommenterJosephConrad

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