This may sound like a crazy idea but I have a proposal for the use of some of the funds that would otherwise be directed to banks and credit card companies. It seems that a lot of the people who have been losing their corporate jobs previously worked in banks, brokerage houses and administrative jobs in large corporations. Perhaps a new compliance branch of the government could be set up, then hire these individuals and train them to be compliance auditors and then send them to Wall Street and into all of the banks that received TARP funds. The purpose would be to find out just exactly what is going on in the market. What is motivating trading trends? Can we ferret out those people who are in Hedge funds that are using the stock exchange as Las Vegas? Can we figure out how the bankers who took TARP funds actually spent them? Can we figure out what is driving the corporations to do mass layoffs, thus creating a deeper recession by the moment?
This action would put a lot of middle class people back to work. Benefits would be restored. Mortgages and credit cards could be paid, thus eliminating bad loans and thereby eleminating the need to have taxpayers fund the finance industry. I personally would prefer to put money in the hands of employees rather than the hands of bankers looking for more cash to grow their banks.
As for the remaining bad loans that never should have been given, let the banks deal with the consequences of their predatory lending games.
We are all asking for transparency and accountability. The only way to achieve that is to have the adequate number of people working who can audit. We cannot go to war with Wall Street with guns and weapons of violence but we can go to war with pencil pushers descending on all of the businesses that have laid off vast numbers of employees and let them know that the party is over and greed is no longer an acceptable business plan.
Hello all,
If you click on Read more at the bottom of this post, you will see the full text of my first draft of our Platform statement. For those of you who were at our meeting, I didn't try to reconstruct our conversation. Instead I tried to synthesize the different issues, perspectives, and discussions into language that would be appropriate for a political platform. So, if I misrepresented or left out something you feel passionately about, this is your chance to get it back in.
Please, be critical and be constructive. Use the comments feature to suggest changes or offer critique, but please try to be as specific as possible. If you're displeased with the wording of something, suggest an alternate wording and explain why you prefer it, or at least be very specific with why you don't like the present wording. If you want to see something added, draft your addition and post it. Don't forget to read and reply to others' comments as well.
You'll have until Sunday night at 7:00 pm to post your comments. Then I'll gather them all up and submit our recommendation to the committee. Please feel free to forward the link to this post to as many people as you think would be interested. Critique is healthy and strengthens the quality of our ideas.
I have observed and written about a government that was reluctant to give information to the public, and I worked in a government that was systematically deceiving the people about what was going on in the war in Vietnam. I am convinced that most important freedom we have among all the freedoms in the Bill of Rights is to know what the people in charge... are doing as they make policy for us and for our children... and I couldn't agree more [with Barack's position on improving transparency in government].
[Barack is] a brilliant man with an extraordinary gift for listening to other human beings. He doesn't have the attitude that "I'm the smartest person in the room." He has the attitude that "I need to listen to other people, reason with other people to figure out how we can get out of this mess.