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Forum Post: All financial products have to be forbidden by law.

Posted 2 years ago on Feb. 18, 2012, 9:08 p.m. EST by Stingray (0)
This content is user submitted and not an official statement

All financial products except savings bank books, loan, bankaccounts, exchanging money (until two million doller) have to be forbidden by the countries, by the goverments, by act of parliaments. Public limited companies (corporation that is limited by shares, which are owned by shareholders, and may be traded on a stock market like wall street) have to be forbidden by law. Existing public limited companies could be changed in a private limited company (A limited liability company where the shares can not be trade on the stock exchange), so trades and speculations with the ownership of a company is not possible.

We don´t need big groups, which gains profits and then fires employees to gain even more profit. We don´t need banks and companies which are to big to fail. We don´t need complex financials, wherefore the whole world nearly commercial collapses (year 2008). We don´t need speculator, who earns in one week more than normal working human in the whole year und who get whole countries (like EU) in difficulties.

So it should be won citizen as much as possible - laboring man, clerical employees, policeman, unemployed person - in as much as possilbe countries, who speak politely with legislator, senators, congressman, secretaries and administrators, ministers that all financial products except ordinary normal bank business like savings bank books,loan, bankaccounts are forbidden by law.



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[-] 3 points by fairforall (279) 2 years ago

We don't need spellcheck but it makes life just a little bit nicer.

[-] 1 points by RedSkyMorning (220) 2 years ago

Have u looked into how Islamic banks are run? They make a profit without usury which is oulawed by Christendom as well. Think through it a bit more and u will have more supporters.

[-] 1 points by RayLansing (99) 2 years ago

But then what will all the crooks in Wall Street do? Surely you don't want those kindhearted wall street cons to starve do you? Everyone without a doubt believes in their claim that financial businesses moving money around adds value right? (insert sarcasm)

[-] 1 points by user11 (1) 2 years ago

I think this is a good idea, because what will happen with the stock exchanges like wall street when there are no more stocks to exchange because there are no more public limited companies and financial products.

Perhaps we could make an museum of the pig capitalsim of the 20th century.

So the question is how wall street can be occupied?

To rampage in the streets and get trouble with the police, or talk friendly to other persons in the streets, about how the wallstreet can be occupied politically.

Perhaps other users could comment this post what is their opinion.

[-] 1 points by nomdeguerre (1775) from Brooklyn, NY 2 years ago

Of course not. It is called the financial services sector because it is supposed to serve the greater (real) economy. It needs to be restricted to doing just that.

However, derivatives should both be outlawed and declared to be uncollectible gambling debts. Furthermore speculation should be limited to stakeholders.

[-] 0 points by Odin (583) 2 years ago

I do remember in the documentary, The Warning that Brooksley Born said there was a place for derivatives as they keep prices from wildly fluxuating on commodities. The trouble with them is that they are not regulated and are used for gambling more than anything else. You are right though in implying that Wall St. does not serve Main Street America.

[-] -1 points by foreeverLeft (-264) 2 years ago

Do liberals ever get embarrassed at the ignorance of their fellows?