Occupy Everywhere Lecture Naomi Klein Michael Moore The New School

 

 

Crowd:  (claps & cheers)

 

 

(William) Bill Greider:  And, and ask publicly “How come this didn’t all come true?”  Some of them did, you know.

 

And, and out of that conversation.  Make a strategy around it which will could speak to people everywhere across these boundaries.

 

Because what they would say is “We know the federal government will run out on what  its commitments are under certain pressures.  And labor rights is one of the obvious examples” they’ve done that.

 

They just destroyed the meaning of the Wagner Act which was 80 to 70, 80 years old.

 

So we’re going to put in the constitution rights that has not yet been expressed there.  That’s one part possible strategy

 

The other one is more immediate.  And I, I think tangible.  And that is ah, it’s in, its in Europe but it is in this country as well.

 

And that is Debt Forgiveness.  I had a ah…

 

 

Crowd:  (claps & cheers)

 

(William) Bill Greider:  piece in the…  In The Nation a week or two ago called the Jubilee American Style.

 

And jubilee as you know is the biblical.  Actually ancient civilization Israel, Babylon the whole bunch of others in the Middle East.

 

Worked out a genuine economic slash moral answer to inequality where the Usurer gets everybody’s property because they failed on their debts.

 

That’s happening right now in America.  It’s happening right now “with large” in Europe.  And yes we could go to the barricades.

 

But, but the real solution is to write down those debts.  And you could do that for College Loans, you could do it especially for mortgages

 

 

Crowd:  (claps & cheers)

 

 

(William) Bill Greider:  You can make your own strategy and proposal about it.

 

But I say this with enthusiasm.  I’m always too enthusiastic about these things.

 

But I actually think this issue is gonna be at the center of our politics, before this trouble is over

 

 

Richard Kim:  How, how big is that problem Bill the, the mortgae crisis?

 

 

(William) Bill Greider:  Well it’s, it’s a moral, it’s a moral imperative obviously with people lives being destroyed by debts they cant repay, and debts which the banks will never collect because these are dead.   These are dead, dead paper.

 

And in, and in capitalism when that happens.  If the players are big enough, they work it out.  That’s what the Bankruptcy Law is about.  That what the write, write-outs. Workouts are about with bonds and big banks and so forth.

 

It’s only when you come to people in their homes or their, their Personal debts that the law are strict as No, No, No it would be immoral to write down your debts.  You have to pay every last penny.

 

That’s what’s going on right now in America and its really obscene.  These banks know they’re not gonna collect on this failed mortgages.

 

But the squeeze the homeowners till they would get the last drop and this is ancient and saying really is no other word for it.

 

So I think.  I’m just suggest.  I don’t, I don’t.  I maybe the last person to say what this amorphous movement should do.

 

It would decide well enough on its own.  But it’s something to look at.

 

Could you mobilize right now?  You wanna know what we’re for?

 

We’re for forgiving the debtors.  That’s what the bible says.  Let’s do it that way

 

Crowd:  (claps)

 

 

(William) Bill Greider:  And ah…  Don’t fall in to the regulatory language that at front.

 

Unfortunately our White House is depending on our Treasury Secretary and they will explain how

 

“Oh that’s terrible you’re undermining your moral hazard.  If you forgive somebody their debts.  Next thing you know you’ll make the Bankers pay back their money!”

 

Right I mean that’s the moral hazard of course

 

 

Crowd:  (claps)

 

 

(William) Bill Greider:  The Bankers have already been forgiven in America

 

 

Richard Kim:  Michael did you wanna weigh in?

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