Letters from across America, collected by n+1 magazine, showing how the banks have failed us and why they must do betterWhile Occupy protests were taking place across the nation in the fall of 2011, a lone website, Occupy the Boardroom, invited Americans who would never make it to an occupation to write down their beliefs about the financial system and their experiences wiLetters from across America, collected by n+1 magazine, showing how the banks have failed us and why they must do betterWhile Occupy protests were taking place across the nation in the fall of 2011, a lone website, Occupy the Boardroom, invited Americans who would never make it to an occupation to write down their beliefs about the financial system and their experiences with loans and banking. The letters are polite, funny, outraged, moving, instructive, and inspiring. They are one of the most direct and compelling records ever assembled of what went on in the housing crisis and the great recession, written by We the People. In partnership with Occupy the Boardroom, a team of young editors from the magazine n+1 read through and gathered the most important, eloquent, and fascinating of these letters. The result is The Trouble Is the Banks. Hear, at last, what American citizens know about their country rather than the opinions of talking heads. Find out what Americans want all of us to do differently....
|Title||:||The Trouble Is the Banks: Letters to Wall Street|
|Number of Pages||:||232 Pages|
|Status||:||Available For Download|
|Last checked||:||21 Minutes ago!|
The Trouble Is the Banks: Letters to Wall Street Reviews
I'm not sure what to make of this book. On the one hand it's an extremely saddening collection of letters by confused, frightened people from all backgrounds whose lives, for the most part, have been ruined by the oppressive system that we all must live in. On the other hand it did rather confirm my suspicion that a great deal of people, I would guess the overwhelming majority of these writers, have absolutely no analysis of our political or economic times, and have a suicidal tendency to trust the words that come out of corporate bankers mouths.And that's probably fair enough, after all who needs to be interested in politics or economics in order to get through the day right? I'm also going to give a break to those with far too trusting natures; you can only blame people for being gullible if they have access to all of the information and then choose not to research it - most of these people were manipulated and lied to by unscrupulous criminals. The essays were very heteroglossic in nature; I was surprised by the breadth of responders. Many took pains to explain that they weren't "liberal hippies", so I think it is fairly representative. But nowhere did I see any criticism of capitalism itself, in fact many writers began by saying "I'm a capitalist as well and...". Writing in this way to complain to a banker shows a glaring misunderstanding of our economic system. If you are a capitalist you should accept that 2008 was business as usual, it's sad that it happened to you, but hey ho, let's not cry over spilt milk.Marx very clearly sets out why capitalists have to behave in the way they do, in fact they are as much a slave to the system as we are. Apart from the fact that capitalism leads inevitably to monopolies, it is also a system that is beyond reform because reform will never deal with the core problem that capitalists ultimately have to play a part in their own downfall in order to maximize profitability. Competition, efficiency developments and wage depression must increase over time in a capitalistic system in order for profits to continue to be realized, so not only must the present monetary system contain the seeds of its own destruction, also the chaos and self-defeating processes must grow exponentially faster over time. Hence new derivative models for banking leading to maximum profits and maximum pain; let's not forget the "profit" that the banks received in bail outs as well, a double whammy, or that none of that money has been used for small business holders. Trickle up economics for sure, Friedman would be very proud.Clearly technological development is driven by the ever increasing need for new markets and increasing profits and certainly not by the common good, or by a sense of human endeavor. The regularity of financial crises should offer some clue as to the volatility (inbuilt) of the capitalist system but it should also point clearly to the normative function of the system itself - i.e. the bank-led crash of 2008 was not the "bad side of capitalism" or what happens when "things go wrong", instead it was business as usual and a sign that the system was working just as it should. The trouble is not the banks; the trouble is the system.The only way for books of this nature to avoid being mere historical records is for that system to be replaced wholesale with one that isn't focused on profit, over extension and greed but instead nurtures and supports the individual for the good of all.
Angry homeowners, ex-homeowners, and student loan borrowers write scathing letters to their chosen bank representatives. Offers some insight into the blame game played against the bankers, but less about the poor decision-making made by Americans who had too much confidence in the system, too little legal advice, or in some cases were in fact flat-out conned by bank personnel. Some stories will arouse sympathy, but the majority will not.