The latest It’s Our Money podcast talks with PBI Board Member Carlos Marroquin and Advisory Board Member Ameya Pawar on the disastrous COVID crisis and how public banks can help.
The axiom “never waste a good crisis” has been a reliable tool for Wall Street interests over decades. Under cover of various national economic disasters, Wall Street financial institutions via the Federal Reserve have managed to direct trillions of dollars into their own accounts. Ellen describes how the new Fed funding channels intended to relieve the financial stress of citizens are being used to save the investor class under the guise of helping Main Street America. We get a front-line report of how that isn’t working at the street level from Carlos Marroquin, who has been serving the immediate needs of people in Los Angeles left out of the Fed-funding circle. And we talk with Ameya Pawar, a former Chicago elected official who is now helping lead the Economic Security Project on how this crisis can lead to new economic systems that bring forward a new era of sufficiency and well-being – and how public banks can help make that difference.