THIS REINSTATES MANY PROVISIONS OF THE GLASS-STEAGALL ACT.
http://en.wikipedia.org/wiki/Glass–Steagall_Act — The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act in 1999effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Most economists believe this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors’ money that was held in commercial banks owned or created by the investment firms. More information: http://en.wikipedia.org/wiki/Glass–Steagall_Act#Repeal
2. USE CONGRESSIONAL AUTHORITY AND OVERSIGHT TO ENSURE APPROPRIATE FEDERAL AGENCIES FULLY INVESTIGATE AND PROSECUTE THE WALL STREET CRIMINALS
who clearly broke the law and helped cause the 2008 financial crisis in the following notable cases.
3. CONGRESS ENACT LEGISLATION TO PROTECT OUR DEMOCRACY BY REVERSING THE EFFECTS OF THE CITIZENS UNITED SUPREME COURT DECISION
which essentially said corporations can spend as much as they want on elections. The result is that corporations can buy elections. This means Corporations from anywhere can buy our elections.
RE-ESTABLISH THE PUBLIC AIRWAVES IN THE U.S. SO THAT POLITICAL CANDIDATES ARE GIVEN EQUAL TIME FOR FREE AT REASONABLE INTERVALS IN DAILY PROGRAMMING DURING CAMPAIGN SEASON.
The same should extend to other media.
4. CONGRESS PASS THE BUFFETT RULE ON FAIR TAXATION SO THE RICH AND CORPORATIONS PAY THEIR FAIR SHARE, CLOSE CORPORATE TAX LOOP HOLES AND ENACT A PROHIBITION ON HIDING FUNDS OFF SHORE.
No more GE paying zero or negative taxes. Pass the Buffet Rule on fair taxation so the rich pay their fair share.
5. CONGRESS COMPLETELY REVAMP THE SECURITIES AND EXCHANGE COMMISSION
and staff it at all levels with proven professionals who get the job done protecting the integrity of the marketplace so citizens and investors are both protected.
It’s currently has a joke of a budget and is run by Wall St. insiders who often leave for high ticket cushy jobs with the corporations they were just regulating. Sounds like the recipe for disaster that has brought us to this place.
6. CONGRESS PASS SPECIFIC AND EFFECTIVE LAWS LIMITING THE INFLUENCE OF LOBBYISTS AND ELIMINATING THE PRACTICE OF LOBBYISTS WRITING LEGISLATION THAT ENDS UP IN CONGRESS.
7. CONGRESS PASSING “Revolving Door Legislation” LEGISLATION
ELIMINATING THE ABILITY OF FORMER GOVERNMENT REGULATORS GOING TO WORK FOR CORPORATIONS THAT THEY ONCE REGULATED.
So, you don’t get to work at the FDA for five years playing softball with Pfizer and then go to work for Pfizer making $195,000 a year. While they’re at it, Congress should pass specific and effective laws to enforce strict judicial standards of conduct in matters concerning conflicts of interest. Since integrity out of the box seems to be hard to find today, we need to take steps to reinstate it as a keystone of this country. So long as judges are culled from the ranks of corporate attorneys the 1% will retain control.
Fast-forward to 2:20. It’ll blow your mind.
The 14th amendment was supposed to give equal rights to African Americans. It said you “can’t deprive a person of life, liberty or property without due process of law”. Corporation lawyers wanted corporations to have more power so they basically said “corporations are people.” Amazingly, between 1890 and 1910 there were 307 cases brought before the court under the 14th amendment. 288 of these brought by corporations and only 19 by African Americans. 600,000 people were killed to get rights for people and then judges applied those rights to capital and property while stripping them from people. It’s time to set this straight.
And beyond these, I would like to propose that we figure out a way to STOP the weird practice of attaching totally unrelated parts of legislation together in a bill, as a way of plea barganing in things that Corporations want (like American’s natural resources).
A prime example is what they are calling “Payroll Tax Cut” which is really just extending cuts that already exist and should exist. Geez. But attached to this Bill is the Keystone XL pipeline. What you think it’s weird these two are connected? This happens alot and it needs to change.
Congress did approve the 2 month payroll tax and unemployment extension.
With that good comes the ugly Keystone XL Pipeline that has been added to this bill. This pipeline brings Canadian Tar Sands through America to the Gulf Coast. Yeah the Gulf Coast, already polluted by BP’s lack of oversight, lack of insight and lack of soul.
The Keystone XL Pipleline (hardly mentioned in any of the debates in Congress) must be stopped from possibly destroying one of the biggest aquifers we have. Please do your own research and share what you find.We can’t afford to have this water resource poisoned, we can’t afford the huge costs to wildlife and basic vitality of the land.