Dear Working Group,
I am semi-retired, a political independent, and worked in Washington
close to the political process, but as a civil servant.
I am TRULY an Independent and these are my own thoughts &
observations.
The politicians, corporations and even news media (campaign
advertising
is BIG business) will howl at these suggestion but these need to be
done.
Considering a unified platform that most Americans can support, and
will
help correct the financial debacle we have seen for the past several
years,
here are some suggestions:
1. Re-institute the Glass Steagal Act, concerning banking
regulation.
2. The FDIC & FED, limit the amount of leverage allowed by all
banking institutions, including investment banks licensed to do
business in
the US.
3. The concentration of the banking sector needs to be
addressed,
we need to relearn the lessons from The Great Depression.
Concentration of
wealth in a few banks is a bad thing.
4. The Security & Exchange Commission should set limits on the
amount of leverage used related to stocks and other securities.
5. Anyone or business or corporation who provides any financial
instrument, policy or other guarantee against loss in financial
dealings,
(Credit Default Swaps), must follow the same regulations as insurance
companies and must hold directly 50 % of the risk on each policy and
have
assets to cover those losses.
Another and possibility better thought, is to outlaw CDS’s
completely and keep risk in the hands of the direct investors, where
it
really should be.
6. Provide immediate incentives for bringing foreign jobs back
to
the US through tax incentives, not direct money from the government.
7. Start a major “Buy American” campaign.
8. Recognize that Lobbying firms may provide educational
services,
however that should be their sole purpose. Any trips undertaken by
Congress
members or staff must be paid for directly by the taxpayer funds and
accounted for.
9. No businesses or corporations doing business with the Federal
Government may be allowed to donate any monies for Federal Office
election
or re-election campaign funds, or provide any other inducements to
Federal
Office holders and are prohibited from employing family members of
office
holders or staff members.
10. While corporations may be allowed to advertised during election
cycles, they may only present the direct position of their
corporation and
how the election would influence their corporation in real terms.
They may
not, under any circumstance, fund any advertisements in direct
endorsement
or opposition to specific candidates.
One overriding principal is to get the big money & influence out of
politics, completely. It skews and perverts the political process.
Get the power and influence back to the middle class & people, it
actually would be better for smaller & mid-sized companies in the US:
Pass a Constitutional Amendment where:
1. Those running for Federal Office may only accept
contributions
from individual voting constituents who reside within their
Congressional
District, or State in the case of Senators or the US and territories
for the
Office of President. The size of such contributions shall be limited
to
$2000.00 per annum, per individual, adjusted for CPI inflation
annually.
2. That businesses, companies, corporations, lobbying groups,
banking or financial institutions are forbidden from making/providing
any
political contributions or other things of value, directly or
indirectly, to
anyone holding public office, their employees or their families or
others
bound by interest or affection. That no promises or inducements for
future
remuneration shall be legal.
Recognize businesses & corporations do good and employ people, they
are
not evil. However they have followed a short term and near sited
quest for
profits at any cost, and in effect gutted much of the production
capabilities of our country. That production loss has cost millions
of
middle class jobs and is compromising the fabric of our country. It
is time
that politicians, from both sides, start thinking of the best
interests of
the 99% of the people (who are 99% of the voters), not those that
bankroll
their campaigns.
A vibrant middle class is the backbone of our country.
A Fellow Citizen,
C J
Virginia