Bank Lobby Still Trying To Kill Credit Unions (blind pursuit of profits over nation and citizens)

   (Commentary posted by Roger Erickson)

Starts out as a local issue raised by one lobby.

Runs amok when that lobby loses sight of all other inter-dependencies, and forgets that there must be tolerance limits on everything. Or else we don't have a culture. Only a mob. 

Instead of blind competition, what about the return on coordination?

http://www.frbsf.org/education/publications/doctor-econ/2005/march/credit-unions-regulation-supervision 

http://www.stlouisfed.org/publications/pub_assets/pdf/re/2013/b/banks_creditunions.pdf 

https://thefinancialbrand.com/29640/credit-unions-fight-banks-over-community-charters/

(hat tip Tom Hickey)

You want context? Consider the words of Marriner Eccles, 1932:

"The operation of our money world has failed to be our servant and instead is our tyrant and master." 

"We must correct the causes of the depression rather than deal with the effects of it!"

That was 82 years ago!!! Has the US electorate lost sight of Public Purpose? Have we lost sight of national goals?