Interesting juxtaposition, why credit unions are not a start

[CEJ]

Much earlier this year, I posted something at Doug Henwood's blog
about 'bank nationalization'. It seems he took up the idea in a recent
issue of his newsletter.

See:

http://doughenwood.wordpress.com/2009/04/20/nationalize-the-banks/

If the federal government would spearhead forming a postal savings
system and a nationwide network of credit unions open to all, that
would be more effective nationalization of banking than anything
contemplated here.

http://mailman.lbo-talk.org/pipermail/lbo-talk/Week-of-Mon-20091123/016686.html

On Nov 26, 2009, at 2:51 PM, Miles Jackson wrote:


> Don't credit unions already play this "co-op" role in the banking
> system? Or are you thinking of something else?

They're a start, but they could be "scaled up," as they say in the biz
lit.

Doug

--------------------
Additional thought:


However, the current system of credit unions are actually NOT A START.
That is because they have been turned into still yet another arm of
the capitalist banking system in the US--through the use of 'corporate
credit unions' which are not what most people think. They basically
turn the credit unions into the same sort of thing as banks and expose
depositers, ultimately, to the same misuse of desposits for
speculation.

CJ