Posted: Mon Oct 17, 2011 11:14 am Post subject: Occupy somplace protest continues...
Protesting is music to the socialists, unionists, statists, and even anarchists' ears. It's their WOODSTOCK. They will camp out as long as it takes, for all their desires to come to fruition, or they run out of food and supplies (perhaps substances), or it costs too much for suppliers to cater to the unwashed.
Indeed, there is a correlation with Rock Concerts. Their song is We Will Save the World — and aggravate those who make things happen in business and professions. We will be the Regulators, an interesting name for a rock group.
However, there is at least one valid reason for the protest on Wall Street. These guys get away with millions and billions yet Conrad Black is in jail.
Following are some suggestions by a notable Canadian newspaper editor.
1 - Restore regulatory oversight of Wall St. - such as prohibiting investment/commercial banks from both selling mortgages and speculating on them.
2 - Cap private and public sector political donations to all Congressional candidates at a maximum of, say $5,000 total per corporation or union, and $500 per individual.
3 - In cases where a public or private sector corp. underwrites mortgages in the U.S. for the subprime market, specify that executive officers of the corporation, including its board of directors, are legally responsible for ensuring the financing and paperwork for those deals meets generally accepted accounting standards.
4 - End the practice of allowing Wall St. investment houses to escape criminal prosecution for fraud, tax evasion, money-laundering, etc., simply by agreeing to civil fines, without any admission of wrongdoing. In cases where there is no criminal prosecution, civil settlements must include an agreed-to statement of facts and a written admission by the company as to the specific nature of its wrongdoing. Require the offending company to widely advertise this document in the media.
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