Protesters at yesterday's A New Way Forward rally in Raleigh (photo by Jerimee Richir; click to enlarge).

After the jump, some thoughts from Zephyr Teachout on what the group wants to do, and where it goes from here: "We want to help translate people's real, and intelligently held, views about the economic crisis into legislation; that's not an easy task, but its clear that in this crisis, the existing channels aren't doing that translation."

How did the organization come into being? How did the idea spread?

Zephyr Teachout: Tiffiniey Cheng and her friend Donny Shaw were watching Bill Moyers, and saw Simon Johnson talking about reorganization; they set up a website with Andrew Packer and Morgan Knudson and sent all their friends a link to it, and started asking for help. I was one of those friends...

But the bigger story is that Tiffiniy represents one of thousands of people who have learned, over the past 8 years, that its possible to do such a thing. Right now, depending on the survey you trust, half or over half of Americans support temporary nationalization of the banks. I'm sure more than that support reorganization, and we believe a similar number support breaking them up, decentralization, and creating new rules that limit their ultimate size. But these policy goals, while congruent with other groups, are not the kind of things existing organizations have been pushing for--hence the need for a new group. [Photo of Zephyr by Jerimee Richir; click to enlarge]

It spread person by person, word of mouth--we got a big boost when my friend Joe Costello involved Bill Greider, who then talked about it on Bill Moyers, which then led to many people finding out about it and looking for it online. In the preliminary reports we've gotten back from today's events, it seems like it HAS moved beyond existing networks--the Gainesville, FL event organizer said the most amazing thing about her rally is that she only knew 3-4 people. We've still got a long way to go but the vein is deep.

Last week the former Chief Economist of the IMF, the man who inspired the site--Simon Johnson--joined.

What are the goals of the group?

ZT: Get Congress or the President to 1) nationalize the banks (temporarily); 2) in doing so, replace the people who are currently in charge; and 3) break them up and resell them back to the private market, but with scale-based antitrust rules in place, so banks can never again get too big to fail.

These sound technical, but they are pretty common sense--people, recognizing the connection between economic power and political power, want to push against the POLITICAL power currently held by leaders in the financial sector, because they believe it is massively distorting our policy responses.

How will the rallies advance these goals?

ZT: Well, there were phone banks to Congress at many rallies--at ours we didn't phone banks, but gave out numbers. So there is direct pressure. Second, they give a chance for people to LEARN--we passed out flyers on nationalization, essays by Johnson, Taleb, Krugman, Wolf--for democracy to work in an economic crisis, people need to feel more comfortable talking about economics. Third, they give a chance, via media, for even more people to join. And finally, its great to come together--at the Raleigh rally, over 2 dozen people volunteered to come to a strategy meeting this Wednesday to talk about what to do next. It's the gateway drug to small-group organizing.

What comes next? How does this fit into the political process?

ZT: The next step is identifying more leaders around the country, and then supporting the existing groups, and figuring out a national strategy. We want to help translate people's real, and intelligently held, views about the economic crisis into legislation; that's not an easy task, but its clear that in this crisis, the existing channels aren't doing that translation.

Economic questions are the most fundamental democratic questions. How do we want to live? What do we value? How much do we value risk over security? How much do we value diversity (economic) and equality? There's a tendency to describe these as technocratic issues but these are the essence of politics, when people come together an say "what should we do?"

Comments

[Steve Harrison]

Nice article, Ed.

I spoke with Zephyr for a few minutes after the rally, and we discussed some of the advantages of the decentralization of banks. Like scalability: an increase in smaller loans for smaller (local) projects, as opposed to tying up their capital gambling on loans made on the other side of the country.

She pointed out there is an environmental advantage to this also (which I should have already considered), because the new development behavior might adversely impact the value of previous loans the (smaller/local) bank has made, so they are more likely to be concerned about potential consequences.

Zephyr's got it together.

[cheripickr]

Anybody notice the different coverage we get from our fearless correspondent on various rallies going on this weekend?

"But one shouldn’t be surprised by the reaction of the left to the Tea Parties. They have never seen this before, conservatives don’t usually protest. We’re used to watching the angry liberal college students vandalizing everything in their sight and getting arrested, all in the name of a cause they’re usually not very familiar with in the first place.
All of a sudden, you have the conservative movement protesting against government overspending, peacefully, without much fanfare, conducted mostly by adults who might bring their kids out, and with no police involvement (how un-cool, indeed). The liberal confusion should be expected.

As a result, at first the leftist media didn’t report on the Tea Parties at all, pretending they’re not happening, perhaps hoping they’d simply go away. Now, with all the big-time personalities and celebrities coming out and hosting the events, they’re left without a choice. So what do they do? They talk about the name. It couldn’t get any more predictable."

[Jeffrey Sykes]

Wow! Thank El that Democratic Party activist Jerimee was there to capture those images.

Otherwise we would have missed out on what looks like the most unenthusiastic protesters ever to attend a rally.

Perhaps they could use some tea.

[Steve Harrison]

"conservatives don’t usually protest."

That's a crock. Conservatives protest frequently against abortion, homosexuality, immigration (both legal and illegal), gun control, etc. And they even protest against the right to protest. Thomas Jefferson would roll over in his grave to see the word "Sedition" resurrected like that.

[Beelzebubba]

"legislating a way forward." That gets filed under oxymoronica with "national interests" and "greater good". If I read too many of those things I go vasovagal and vomit on the ceiling. I'm shaking now. BP droppinggggggggg..............

[Fred Gregory]

Nwf crowd size: 8 Austin; 30 Chicago; 12 DC; 14 St. Louis.

I suppose you gotta start somewhere.

Over at the Tempest thread justcorbly caled the Tea Party protestors , whack-jobs. Yeah well they have been well attended: 500 Yakima; 1500 St. Louis; 1000 San Diego; 2000 Pittsburgh; 4000 Orlando; 300 Williamsburg; 3500 Cincinnati.. just to name a few. I would like to see a total accounting of all such demostrations. Anyone have this data ?

Both groups are exercising free speech rights. The mocking and ridicule from the CM and other big government stoners is actualy welcomed.

I think it was Ged or Roch who wanted to know who these Tea Party types were.

I think I found you an answer...

Leftie Tea Party-Phobia

[Roch101]

It wasn't me, but are you going to the one in Greensboro, Fred? If so, why?

[cheripickr]

1500 to 14 in the same city? Fred you're good at tracking down stats. doesn't that ratio roughly correspond to the ratings differential between Fox News and MSNBC? Methinks rumors of the death of the Republican party may have been greatly exagerrated.

[Roch101]

CP, can you give us a link to the source for Fred's number you swallow without substantiation? I'd like to determine if those figures include the ACORN infiltrators.

[cheripickr]

No I cannot. Is there anything else you would like me to relay to him for you?

[Fred Gregory]

cheripicker,

Tell Roch I made them up.