On Wed, Oct 7, 2009 at 9:19 AM, Carrol Cox <[email protected]> wrote: > But hating the banks leads to a profound misunderstanding of the > capitalist system. Carried through with rigorus logic and you have Ezra > Pound's Cantos and his embraace of Mussolini. > > It is not the banks that harm you. It's capitalism, of which your credit > union is an integral part.
Can you explain how a credit union is an "integral part of the capitalist system"? By its legal definition, a credit union is entirely owned and operated for the benefit of its members. There is no profit motive, no incentive for speculative risk-taking etc. Most credit unions are by nature, quite small. I thought credit unions provide an ideal template for a socialist banking system. And look at their recent track record compared with for-profit banks! What's not to like here? http://www.creditunion.coop/what_is_a_cu.html -------------------------------------snip Credit Unions Other Financial Institutions Not-for-profit cooperatives Owned by outside stockholders Owned by members Owned by outside stockholders Operated by mostly volunteer boards Controlled by paid boards -raghu. -- "Really ?? What a coincidence, I'm shallow too!!" _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
