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Nationalize, Organize, Decentralize: A "New Way Forward" on America's Banks

BY Nancy Scola | Tuesday, April 7 2009

It might read like a Politics Online attendee list -- Joe Trippi, Zephyr Teachout, Jerome Armstrong, David Sirota, Mike Lux -- but it's actually just some of the big names in online politics behind a new effort called A New Way Forward, aimed at advancing a new approach to how the U.S. deals with the struggling financial industry. Step one in the New Way Forward approach: nationalize the banks. Follow that up with replacing CEOs and wiping out bonuses. Then wrap things up with breaking up banks into more manageable -- and more regulable -- parts. WireTap's Kristina Rizga interviews Tiffiniy Cheng, one of the founders of OpenCongress and a co-creator of the new project. Says Cheng, "I'm really sick of just signing a lot of petitions online. I do think that showing up at a protest or anything else is still the most potent way to express our political power." To that end, NWF is encourage supporters to organize "creative actions" (read protest rallies) in cities across the country this Saturday, April 11th. How popular will the rallies be? We'll see. But one protest at the intersection of of Northern Lights Boulevard and Seward Highway in Anchorage, Alaska has already drawn 55 committed attendees.