Banks are the Holy Churches of the Modern Economy?

Iceland's President, Olafur Ragnar Grimmson said in an interview with Al Jazeera's reporter on why Iceland survived where Europe has failed:

"... We didn't follow the traditional prevailing orthodoxies the Western world in the last 30 years. We introduced currency controls, we let the banks fail, we provided support for the poor, we didn’t introduce austerity measures as you’re seeing here in Europe..."

When asked if the Iceland's policy of letting the banks fail would work in the rest of Europe, he answered :

"… Why do they consider the banks to be the holy churches of the modern economy? Why are private banks not like airlines and tele-communication companies allowed to go bankrupt if they have conducted in an irresponsible way? The theory that you have to bail-out banks is a theory about bankers enjoying for their own profit their success, and letting ordinary people bear their failure through taxes and austerity. 
People in enlightened democracies are not going to accept that in the long run."

Goodbye, Aaron Swartz... 삼가 고인의 명복을 빕니다.

오늘 밤
또 하나의 별이
인간의 대지 위에 떨어졌다

Aaron Swartz. 향년 26세...

Aaron’s death is not simply a personal tragedy. It is the product of a criminal justice system rife with intimidation and prosecutorial overreach. Decisions made by officials in the Massachusetts US Attorney’s office and at MIT contributed to his death. The US Attorney’s office pursued an exceptionally harsh array of charges, carrying potentially over 30 years in prison, to punish an alleged crime that had no victims. Meanwhile, unlike JSTOR, MIT refused to stand up for Aaron and its own community’s most cherished principles. — Statement from Aaron Swartz’s family & partner. 

Remember Aaron's own words:

“Information is power. But like all power, there are those who want to keep it for themselves.”

“The world’s entire scientific and cultural heritage, published over centuries in books and journals, is increasingly being digitized and locked up by a handful of private corporations.”

“Want to read the papers featuring the most famous results of the sciences? You’ll need to send enormous amounts to publishers like Reed Elsevier.”

“There are those struggling to change this. The Open Access Movement has fought valiantly to ensure that scientists do not sign their copyrights away but instead ensure their work is published on the Internet, under terms that allow anyone to access it.”

“But even under the best scenarios, their work will only apply to things published in the future. Everything up until now will have been lost.”

“That is too high a price to pay. Forcing academics to pay money to read the work of their colleagues? Scanning entire libraries but only allowing the folks at Google to read them?”
“Providing scientific articles to those at elite universities in the First World, but not to children in the Global South? It’s outrageous and unacceptable.”

” ‘I agree,’ many say, but what can we do?’ The companies hold the copyrights. They make enormous amounts of money by charging for access, and it’s perfectly legal – there’s nothing we can do to stop them. But there is something we can, something that’s already being done: we can fight back.”

“Those with access to these resources – students, librarians, scientists – you have been given a privilege. You get to feed at this banquet of knowledge while the rest of the world is locked out.”

“But you need not – indeed, morally, you cannot – keep this privilege for yourselves. You have a duty to share it with the world. And you have: trading passwords with colleagues, filling download requests for friends.”

“Meanwhile, those who have been locked out are not standing idly by. You have been sneaking through holes and climbing over fences, liberating the information locked up by the publishers and sharing them with your friends.”

“But all of this action goes on in the dark, hidden underground. It’s called stealing or piracy, as if sharing a wealth of knowledge were the moral equivalent of plundering a ship and murdering its crew. But sharing isn’t immoral – it’s a moral imperative. Only those blinded by greed would refuse to let a friend make a copy.”

“Large corporations, of course, are blinded by greed. The laws under which they operate require it – their shareholders would revolt at anything less. And the politicians they have bought off back them, passing laws giving them the exclusive power to decide who can make copies.”

“There is no justice in following unjust laws. It’s time to come into the light and, in the grand tradition of civil disobedience, declare our opposition to this private theft of public culture.”

“We need to take information, wherever it is stored, make our copies and share them with the world. We need to take stuff that’s out of copyright and add it to the archive.”

“We need to buy secret databases and put them on the Web. We need to download scientific journals and upload them to file sharing networks. We need to fight for Guerrilla Open Access.”

“With enough of us, around the world, we’ll not just send a strong message opposing the privatization of knowledge – we’ll make it a thing of the past. Will you join us?”