Remaking the Federal Reserve, Building Public Banks and Opting Out of Wall Street

Wednesday, 17 April 2013 00:00 
By Margaret Flowers and Kevin Zeese, Truthout | Op-Ed 

Creating a Finance System That Serves the People, Part II

In Part I of this series, we examined breaking up the too-big-to-fail-or- jail banks, regulating them - especially their massive and risky derivatives trading - and more aggressively enforcing laws and regulations against security fraud.

In Part II, we examine how to remake the Federal Reserve into a transparent, democratic institution that serves the necessities of the people and the economy, not just the bankers; how to develop public banks in every state and many cities throughout the nation; and how people can opt out of Wall Street right now.

In other articles and on our web site, we examine the broader economy and how to remake it by putting in place economic democracy so that people have greater control over their economic lives and more influence over the direction of the economy.