Posted 5 years ago on Oct. 31, 2011, 4:04 p.m. EST by qwiksilver
from Los Angeles, CA
This content is user submitted and not an official statement
Number 1: Get rid of the fictional “personhood” of corporations.
A. Because of that “personhood” the CEOs and the boards are not responsible for their actions and are not financially liable.
B. Corporate “personhood” is the only “person” in the US that is above the law and not subject to any punishment of any kind. How do you punish a person who does not really exist. You do the above and any corporation that gets out of hand can be brought to heel with the rule of law.
Number 2: Break up companies “too big to fail.” We did it before and it proved to be a boon to the consumer (Ma Bell into Baby Bells). Unfortunately, at about the time we did that unprecedented move we also did the unprecedented move of bailing out a corporation (Chrysler). Too bad we followed the later model and not the former.
Number 3: A separation of banking and investment. Like church and state, they should not mix. They did in the 1920s and look what we got. They did in the 2000s and look what we got. Global meltdown every time. (Pensions should also be separated from investments. No more 401ks to meltdown.)
This will create accountability without destroying incentive and ensure that companies really think before acting. It will also slow down merger mania that kills competition. The last point keeps our savings, pensions and mortgages out of the hands of gamblers.
We can still be us. Have our accustomed culture. Have our identity without the silliness that gets us into trouble.