He says what they should have done, and I've reworded it to say what they still could do:
If OWS really want to hit the banks where it hurts, they won't waste more time camping out in the cold and holding up signs till their fingers turn blue. Instead they will take out every new credit card they can get. Lots of them. Card after card. Essentially they will follow Wall Street's example: They will borrow every nickel they can. It's called "leverage' (which just happens to be the title of Karl's new book). And then they will hightail it to the Bahamas. And when the money is gone, they'll say to the banks, "Too bad, suckers. Sue us! And good luck with that."
Immoral and unethical? Yes of course, but who cares? As you saw on 60 minutes last Sunday, the banksters don't give a damn about either the law, morals or ethics. Neither does Congress. So why should we, when it comes to them? They robbed us, cleverly and legally, and now we have a chance to pull the same crap on them, and hurt them in the only way they understand: in the pocketbook and on their balance sheet.
The bleating from "the man" the other night in that 60 minutes piece about Sarbanes-Oxley and whether CEOs "knew" about the misconduct of their firms, was an intentional lie. The entire purpose of "Sarbox' was to hold CEOs and CFOs accountable for knowing the business integrity of their firms -- that is, to remove what had been, until then, a common excuse, that "they didn't know," and remove this excuse by adding a statutory requirement that they learn, understand and know exactly what their firms are doing.
There is no other way to put this: Congress and the White House not only do not care if the banksters continue to rob you, they are actively condoning and assisting in the theft!
As a result there are only two courses of action that are both legal and logically defensible:
1. Find a way to screw them to the maximum lawful extent. Civil judgment? Become judgment proof. Then spend their money and don't pay it back, just as they spent yours without paying it back. In other words, perhaps it's time for a general strike of a different form -- a general debt strike where everyone pulls every dime they have from a bank and simply refuses to pay any debt to them, essentially erecting the middle finger to the banking system. In other words, screw 'em.
2. Tell "the banksters" and their systemically organized parasitism to go to hell. Refuse to do business with their institutions or anyone who does. Shun them all.
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