Forum Post: Time for A Charter

I have been closely following your efforts and strongly support your cause. I think you need a charter or something like that which clearly states your objectives in concrete terms. Many in the media have merely portrayed this is the young angry mob against corporate elites. I think your cause would benefit by putting out some specific proposals. Here is just a suggestion:

1. Eliminate Investment Banking and Create stiffer Criminal Penalties for Banking Malfeasance

A person gets more jail time from a nickel and dime robbery then the banks do from skimming billions in rigged investment activities. It is time for banks to go bank to basic banking (managing deposits and providing loans) and for stiff criminal (not civil) penalties for malfeasance. Read more here:

http://wordsofwhizdumb.blogspot.com/2011/10/sec-and-citi.html

1. Revise the Corporate Tax Structure

The corporate income tax structure needs to be revised so that all corporations – foreign and domestic – pay a fixed percentage on all items and services sold in the United States. Corporations use our resources regardless of whether or not they make a profit in any particular year and many giant corporations pay little or no income taxes. A tax on sales will ensure that all corporations will pay their fair share for the privilege of selling their goods and services here. Read more here:

http://wordsofwhizdumb.blogspot.com/2011/09/taxing-my-patience.html

1. Establish a National Cap on Mortgage Interest Rates

There are millions of Americans who could afford mortgage payments based on the current interest rates. However, they cannot qualify for re-financing because their homes are under water. Meanwhile, banks are getting money from the Fed at a rate of essentially zero! We need a national cap on mortgage interest rates (probably tied to the Fed Fund Rate) so that folks at least have a chance of getting out of this mess.

Read more here:

http://wordsofwhizdumb.blogspot.com/2011/08/mortgaging-our-future-you-can-bank-on.html

1. Establish Caps on Bank Fees

Banks are currently trying to circumvent recent financial reforms by passing on additional fees to consumers. This needs to be stopped.

Read more here.

http://wordsofwhizdumb.blogspot.com/2011/10/check-republic.html

1. Take Personal Responsibility

We all need to do our own part. We helped cause this mess too. We need to save more and we need to shop at stores that pay their workers decent wages and sell goods that are manufactured here.

Read more here:

http://wordsofwhizdumb.blogspot.com/2011/10/occupy-walmart.html

I'm not saying the above ideas are the answers. I just think you need to come up with specific things that can be debated. I will continue to follow and wish you all the best of luck.