Monday, May 13, 2013

Economic Reform

7:29 AM

In Survival Investing: How to Prosper Amid Thieving Banks and Corrupt Governments , John R. Talbott postulates that the demands of the Occupy Wall Street activists were right on in their desire to return to a fair market economy. Here is their list of demands, as summarized in the Talbott book:

1.       Reinstatement of Glass Steagall
2.       Investigate and prosecute Wall Street criminals

3.       Reverse the Supreme Court decision that allows corporations to influence political campaigns in the form of paid advertising any time during an election

4.       Pass the Buffett rule on fair taxation so that the wealthy pay their fair share and corporate loopholes are closed

5.       Completely revamp the Securities and Exchange Commission

6.       Limit the influence of lobbyists and eliminate the practice of lobbyists’ writing legislation for Congress

7.       Close the revolving door that allows former government regulators to work for corporations and banks, and former bankers and corporate executives to work for the regulatory agencies that oversee their industries

8.       Eliminate corporate personhood – the legal doctrine that extends the rights of and protections for people to corporations

From everything I have been reading about active investing for the individual investor, these seem to be a good starting point for reform....

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