Gibran's blog

After reading Hazel Henderson’s article with her view on the subjetc, I wrote down a few ideas of my own:

I am no expert on the subject (nor have a clear understanding of finance and economics) but it is my feeling that not only is Wall Street & the «Friedman-Austrian School» fever to blame, but Main Street as well, society in most of its extension, as non of the aforementioned could ever have been possible if it didn’t have a faithful base of non-aware consumers (in any and every segment).

This is one of the most important changes needed (along with regulatory measures). In the short term … instead of having the US bail out (and nationalize AIG and similar – as they have always criticized when other countries nationalize for other reasons), I would take a good look into all those entities that have proven to be effective social and environmentally responsible investors (in Europe I know of Triodos Bank), let them form a sort of cooperative and take over the debt (with a loan of the US government), assets, clients and decent-valuable employees of the now fallen «giants». This would do a few things:

1. let the «bad ones» fall (no bail-out, no golden parachutes) and send a clear signal that if you do wrong, you are accountable

2. let the «good ones» take a step into the light, send a clear signal that if you operate under these ethical, moral and sustainable principals you are rewarded

3. the debt absorbed by the US (tax payers) would in more reliable hands (instead of the hands of the government that was also to blame)

4. the loan could be repaid in a more solid scenario (instead of putting all eggs in the same basket)

5. and in order for the US to recover from this debt/loan, instead of later on having to sell the «ugly duckling» to the highest payer (perpetuating once again the very same approach that got them into this mess), it could be  generating a form of cash-flow from this cooperative that took over

From the heart,

GA