Wouldn't you love to get get an instant return on an investment? Well, you can. Spending a dollar in a locally owned business is the same as investing a dollar in a locally owned business. It's money in the community and, for instance, if it's a grocery story, you can walk out with a sack full of food.
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The key to restoring health back to the finance system is to re-localize - to reintroduce real relationships between lenders and borrowers and between entrepreneurs and investors.
Investors, especially those of us with our life savings on the line, have a right to know where our money is going, and an opportunity to place it in funds that reinvest in our own communities. Moving trillions of dollars out of unknown global companies and the unknowable derivatives linked to them, and into Main Street businesses, would give communities across the country a desperately needed economic boost. Simply feeding more federal dollars to institutions that ignore local investment is exactly the wrong approach.
What we need is right here in our own backyards: a system of federally regulated, community banks that fulfill the classic textbook function of acting as intermediaries between local people looking for a secure place for their savings and local people who need a loan to buy a home or finance a business.
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