Forum Post: What is wrong with Wallstreet and our Banks?
Posted 13 years ago on Oct. 4, 2011, 4:13 a.m. EST by soloenbarcelona
(199)
from Barcelona, CT
This content is user submitted and not an official statement
As some of you might know, I am fully suporting this movement, and like 99%, I don´t have all the answers. I hope this Forum can get a different layout, so questions like this can be organised and lead to productive discussions. Anyhow, here some sought on the matter. (I wish I had a more organised and clearer view)
If a had more Money then that what I could spend, some of that Money, should be invested so it does some good in the world. Imagine there are companies that make clean energy availible (I suppose wallstreet would be an answer). Question is why I´m still against wallstreet the way is run now? Companies come out with some statements and far from representative figures (That most individuals find hard to understand) and investors primary goal is to make more Money and agents goal is to get max bonusses at the end of the year.
I could like some companies goals and believe I would do the world a favor by lending them my Money. Problems: Managent by people who learned they have to maxamize profit and the way they will spend my Money is out of control. The information we get from almost any management is normaly full of lies and simply a justification of their numbers. (Mostly like our politicians, you have to read between the lines if you want to know anything about the truth) I studied external accounting and there are hundreds of pages with rules and ways you can present your figures, and if the aim is to get more investors on board, you are obliged to make a nice picture.)
I think Investing in companies should stop! I think we should invest in projects of companies only. Project requieres some Money with fixed amount of shares. Company behind it, the bank and mabe some of our tax Money take the risk. Project can be executed and if more Money is needed, more shares can be printed. Let governments get more shares in projects that serve the common good! The risk can be divided in any way, but most important would be tranparency (not the case anymore) And a Project can be succesfull without moneybenefits: Just give prívate investor his Money back and interests, and only companies and other organs take the losses.
Then I have a problem with the laws that organize wallstreet. Most rules are there to protect us, but Its clear that this is not working. To many rules sometimes to little otherwise. Make them simple and understandable, and let us just invest in projects. A Project may be as vage as: New product release Apple 2011-2015 but not just Apple or camidacion againt ….., but not just a pharmaceutical company. Like this everyone can really understand where the money goes. Your Money and all the Money in the world if you want to know.
And then, to give the banks a productive job: They have to invest in all projects of companies on wallstreet, take some of the risks but become independent from individual corporation, and depend on the savings from the people, work for the people.
Banks have lost their right to be prívate untill the actual crisis we are in is solved. Also the government has lost that right.
Corporate Free Speech There needs to be better corporate representation. Money is speech. Every individual, even individual stockholders, "ownership," has a right to free speech. Free speech means no one can force or prevent an individual's speech. Ownership has the right to direct the corporation's speech and political contributions. Majority control of contributions may violate an individual's free speech. Corporate management can speech for the corporation, but ownership needs to authorize that speech. No speech or money spent on political contributions may be made without ownership authorization and such contributions must be taken from the individual's dividends. No dividends means there is no allowance for contributions. Corporate management must poll the ownership to determine the amount and placement of all individual stockholder directed contributions. The assignment of all corporate contributions must be made public so that ownership can verify the correct placement of their contributions. Management can not make contributions on the behalf of nonresponsive ownership and thus can only make contributions for which they have been directly authorized.
Money is speech. Corporations are people, because people get the money. Free speech means people are not forced to pay for someone else's speech. Corporations may not force to pay or deny dividends, to a person who does not approve of money spent on speech. Corporations may only spend money on speech that is taken, by approval, from the people who get the money. Every person who gets money, from the corporation, must approve the money spent on speech, in order to protect the right to free speech. Since the money spent on speech is identifiable with a person then that money is subject to caps associated with that person and must be reported. Also, tax consequences flow, to each person, for tax exempt contributions. If the corporation feels that the cost of polling and reporting the money spent on speech is prohibitive, then the corporation is prohibited from spending on speech. Corporations spend money on product ads and any political placement in a product ad must have unanimous consent of ownership.
Miss Liberty needs a 12 Step
Miss Liberty staggers up Wall St. now abundant with boarded up windows & vacancy signs, wearing a dress in tatters, worn coat & fingerless gloves with bags under her eyes, depressed from the news of Uncle Sam's death & begging for coin.
Inner city thugs breed like cockroaches, dealing drugs, selling ass, jacking cars, collecting welfare under 5 dif. names and never held a job, or filed tax return or support their 22 illegitimate children who will become our next generation welfare nation, ready to suck whats left of the life out of the USA. Wearing Prada & Gucci sporting gold & driving Mercedes, Nisan, Mittsubishi, with big screen plazma tv's at home in their gov. subsidised dwellings. While honest hard working people have 1 child & strive to do their best to pay taxes & mortgages & cloth their children in walmart & k-mart & good will, only to lose their jobs because a currupt welfare, lazy, unemplyalbe, dishonest, nantion has finally crippled It's most valuable resources hard workeing honest people to the point their homes are forclosed on & forced them to become destitute while convicts have the right to 3 hots & a cot, congical vistits dental & health care no bills or burdons no jobs just more weight for burdon for whats left of honest working people to carry. Now a borrowed trillion dollar reverse mortgage bail out like putting a masive weight ontop of a building with a collapsed foundation & decayed undermined footings here comes your big collapse. Grab ahold of something & hold on tight the end is near. Say goodbye welfare America the buck stops here. WHEN THE RIOTS START HERE THERE IS NO ARMY HERE TO STOP THE RIOTS Uncle Sam is dead Rest in Peices America ( July 4th 1776 - Sept 15th 2008 ) Next they change the Flag WHEN THE RIOTS START HERE THEREIS NO ARMY HERE TO STOP THE RIOTS
I agree, but, about me, you forget that another kind of invest is against Capitalism rules... The problem is the difference between real economy and financial economy that sill remains..
Uncle Sam should stop printing fake money .....and buy things with such fake! Other countries should stop accepting such monkey money.,it applies also to Euros...
Real wealth is land and cows! Due to ownership of land by only a few,people dont have access to land as it should be,and the greedy few are polluting land with chemical agriculture,while with cows/bulls,there is no need for such poisons,that are making people sick while causing horrible pollution. So the solution should be to redistribute all land to the people so that pure food and milk/milk products are produced:the problem will be :too much food....In fact,there is no scarcity of food or energy....just look at workingvillages dot org [ideal village in Congo]and see what can be acheived if such policy is applied in all countries....!!! Hare Krishna!
We live in a dog eat dog world .Its every man for himself .The system is solely concerned about the maximization of profits . It is good to see people more concerned about their future and the future of Americans but unforunatley businesses are not worried so much about Detriot .Its all about making a buck .If you and me died tommorrow .We would die without never truly knowing ourselves perhaps . We can not expereince life when we are cut off from it .That is why people need to speak out against this lifestyle of alienation which divides the passes I have wrote new ism's ... but have thrown them away no one would listen to a felon .Its gonna take the youth ,college graduates ,professionals and the down trodden to change this .