Forum Post: What is the solution?
Posted 12 years ago on Oct. 17, 2011, 6:03 p.m. EST by ceg098
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Do the people in OWS want capitalism replaced or have the current system reformed(more regulation, etc.)?
http://occupywallst.org/forum/steps-to-success/
OWS should compose a document, have it written up with a list of stipulations and make it legal, put a name to it then expose it to the public. Find an intelligent and suitable candidate to run for office on that invariable charter who will step up, sign it, campaign on it and they will, most definitely, have the backing of the masses.
In addition to repealing selected, existing laws listed in the document, new legislation will be composed with appropriated laws to be amended to the Constitution.
This binding contract will begin the enactment process into law through our judicial system, immediately upon election of this candidate! If those in Congress are against it they will, in essence, loose their seat, because the majority of the American people will stand behind it and no amount of money will stop it!
I recommend William K. Black, a lawyer, academic, former bank regulator and author of The Best Way to Rob a Bank is to Own One.
There are many misguided efforts, and it seems that the OWS movement has become a platform for just about any concern. A movement needs to focus and be very clear on what it seeks to accomplish.
I have spent nearly 4 years researching and educating myself on the law and rules that make up the basis on how business is financed and how the rules affect business and the individuals who own them and work for them.
First let me say that this problem is not liberal or conservative, democrat or republican but it is a common problem we all share. One key point must be stressed we are all affected by the issue at hand.
Now, let’s look at the laws. If you look at the fall of the exchange in 1929, its cause and the reaction by the government you will find most of the problem. In 1929 only ~10% of all businesses were public and the remainder was private. ~2% of the population were involved in trading stocks and most of the individuals we very heavily leveraged (They bought on credit).
Next the market dropped, individuals lost their ability to pay off their margin accounts and wiped out the capital overnight in the banking system, Couple that with the hysteria of the people running on the banks to get there gold out and you have a recipe for disaster.
For most they were not initially affected by the falls of the exchange in 1929 but when banks failed they felt it. Businesses lost credit to operate, accounts were wiped out and small private business failed. No fault of their own but the fault of the overzealous banks. Individuals found there savings wiped out alongside the private businesses and the world plunged into the abyss.
The reaction to this was FDR. and the 1933 securities act and the 1934 securities and exchange act. What these two pieces of legislation did was strip the ability of the small private business (who did not cause the market collapse) to raise capital in a traditional form, Bonds. Direct investment was for many years the mainstay of the entrepreneur. It put the restrictions on who could invest (Qualified institutional investor) and how the investments could be sold. It stripped the ability of the individual to invest and make the high returns they became accustomed to and placed all of it into the hands of the very few 1%.
Today if you are a business owner there is a glass ceiling of about $3 million dollars where a business could potentially get debt to expand, retool, or modernize. The Wall Street and Banks prefer an Equity offering. How often do small business owners sell the majority share of the company they own under a public offering or private sale (sale to high net worth’s) to raise the capital they need. The horror stories of this arrangement are very clear. They give up control, get voted out of the company and the new share holders shut them down move the product manufacture to China to maximize the return to the High Net Worth investor (new owner).
The laws perpetuate the problem. Now remove the Glass-Steagall Act and it becomes a high net worth orgy.
Focus, access the laws, and fix the system that perpetuates the behavior.
FIX THE LAWS
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Why not think about starting here. Franklin Roosevelt - Second Bill of Rights People who are hungry, people out of jobs are the stuff of which dictatorships are made. A second bill of rights so that a new basis of security and prosperity can be established for all. 1) The right to a useful and ruminative job. 2) The right to earn enough to provide adequate food and clothing and recreation. 3) The right of farmers to raise and sell their products at a return that will give them and their families a decent living. 4) The right of every businessman large and small to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad. 5) The right of every family to a decent home. 6) The right to adequate care and the opportunity to achieve and enjoy good health. 7) The right to adequate protection from the economic fears of old age, and sickness, and accident and unemployment. 8) The right to a good education. All of these rights spell security and the well being of the people and the nation and eventually the peace and security of every nation. We have yielded to fascism which president Roosevelt warned us about. It is the responsibility of our elected government to see that these rights are implemented and that we are freed from the greed of the large corporations and our proper life returned to us, the people, one person one vote.
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A solução é os pecadores seguirem remando!
Pelés do mundo, uní-vos!!!