domenica 16 ottobre 2011

An answer to Vikram Pandit, Citibank CEO

Recently Vikram Pandit - CEO at Citibank - has declared that “Trust has been broken between financial institutions and the citizens of the U.S., and that is Wall Street’s job, to reach out to Main Street and rebuild that trust.” Pandit was at a breakfast organized by Fortune magazine in New York.
He then extended an invite to the OWS people to "come up" and chat: “I’d talk about the fact that they should hold Citi and the financial institutions accountable for practicing responsible finance,” Pandit, 54, said. “I’d be happy to talk to them any time they want to come up.”

Hence OUR proposal is here for him to read:

It is great time to refund the sovereign People the seigniorage earned by creating credit. A good idea would be that the central bank (or the banking system as a whole) issue a Basic Income to each citizen of about 1,500 USD monthly. It is not a large amount compared to the monetary revenue (seigniorage) due to EACH US citizen which amounts actually to around 2 millions USD: it would be s a very good business for bankers and would reduce THEIR moral hazard. In exchange for the Basic Income, the citizens can underwrite a document whereby they agree to leave the monetary revenue as a profit pertaining to private banks. It would legalize the big banking rip-off actually done unlawfully. I think Pundit will understand VERY well what I am writing right here.

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