The banks are stealing money again

[miriam_e]

The Australian banks have been stealing the reserve bank interest rate cuts instead of passing them along to their customers as they were supposed to do. The rate cuts were meant to boost the economy by helping the people who have been supporting it. But the banks have been stealing it and making for themselves half a millions dollars per hour by pocketing it.

I have been working my way through the extraordinary book by Joseph E Stiglitz: "Freefall-America - Free Markets and the Sinking of the World Economy" in which he lays much or the blame, perhaps most of the blame, on the banks for destroying the world's economy. It seems like these institutions have turned into monsters that feed upon us instead of benefiting society. And here they are, doing it again. They are stealing the money intended for their customers. We need to stop them. Sign the petition.
http://act.sumofus.org/go/390

But I actually think we need to do more. We need to turn to things like PayPal and Google Checkout and Amazon Payments (and 15 others) instead and boycott the banks. Choke off their source of power and bring them back into order.