Posted 5 years ago on Oct. 11, 2011, 7:04 p.m. EST by CJ99
This content is user submitted and not an official statement
The politicians, corporations and even news media (campaign advertising is BIG business) will howl at these suggestion but these need to be done.
Considering a unified platform that most Americans can support, and will help correct the financial debacle we have seen for the past several years, here are some suggestions:
- Re-institute the Glass Steagal Act, concerning banking regulation.
- The FDIC & FED, limit the amount of leverage allowed by all banking institutions, including investment banks licensed to do business in the US.
- The concentration of the banking sector needs to be addressed, we need to relearn the lessons from The Great Depression. Concentration of wealth in a few banks is a bad thing.
- The Security & Exchange Commission should set limits on the amount of leverage used related to stocks and other securities.
Anyone or business or corporation who provides any financial instrument, policy or other guarantee against loss in financial dealings, (Credit Default Swaps), must follow the same regulations as insurance companies and must hold directly 50 % of the risk on each policy and have assets to cover those losses.
Another and possibility better thought, is to outlaw CDS’s completely and keep risk in the hands of the direct investors, where it really should be.
- Provide immediate incentives for bringing foreign jobs back to the US through tax incentives, not direct money from the government.
- Start a major “Buy American” campaign.
- Recognize that Lobbying firms may provide educational services, however that should be their sole purpose. Any trips undertaken by Congress members or staff must be paid for directly by the taxpayer funds and accounted for.
No businesses, corporations or unions doing business with the Federal Government may be allowed to donate any monies for Federal Office election or re-election campaign funds, or provide any other inducements to Federal Office holders and are prohibited from employing family members of office holders or staff members.
While corporations and unions may be allowed to advertised during election cycles, they may only present the direct position of their corporation and how the election would influence their corporation in real terms. They may not, under any circumstance, fund any advertisements in direct endorsement or opposition to specific candidates.
One overriding principal is to get the big money & influence out of politics, completely. It skews and perverts the political process.
Get the power and influence back to the middle class & people, it actually would be better for smaller & mid-sized companies in the US:
Pass a Constitutional Amendment where:
Those running for Federal Office may only accept contributions from individual voting constituents who reside within their Congressional District, or State in the case of Senators or the US and territories for the Office of President. The size of such contributions shall be limited to $2000.00 per annum, per individual, adjusted for CPI inflation annually.
That businesses, companies, corporations, lobbying groups, unions, banking or financial institutions are forbidden from making/providing any political contributions or other things of value, directly or indirectly, to anyone holding public office, their employees or their families or others bound by interest or affection. That no promises or inducements for future remuneration shall be legal.
Recognize businesses & corporations do good and employ people, they are not evil. However they have followed a short term and near sited quest for profits at any cost, and in effect gutted much of the production capabilities of our country. That production loss has cost millions of middle class jobs and is compromising the fabric of our country. It is time that politicians, from both sides, start thinking of the best interests of the 99% of the people (who are 99% of the voters), not those that bankroll their campaigns.
A vibrant middle class is the backbone of our country.
A Fellow Citizen,
C J Virginia