What the 99% Really Wants

While the demands of the Occupy Wall Street movement have appeared to be lacking organization and leadership, it is far from disorganized. The amorphous requirements demands focus upon some of these major points:

1. Reinstatement of the Glass-Steagal Act, which provides a barrier for financial institutions, banks, insurance companies, and requires accountability to the public.

2. Forgiveness of student debt, which, has saddled college students and graduates with obscene amounts of debt from student loans. Similar to the mortgage fiasco that was perpetrated by banks, students are currently saddled with loans that cannot be paid back primarily because there are no jobs. This $1 Trillion dollar investment in the youth of America would transform our collective future.

3. Full criminal investigation and prosecution of the subprime and foreclosure fiasco. And, amnesty of all prior and current prosecutions of borrowers who were targeted with fraudulent loans. The object was the creation of mortgage bonds with zero underwriting by the banks and subprime lenders; the use of mortgage brokers to entrap borrowers into toxic loan products which enabled them to return loans to the banks for inclusion in fraudulently graded bonds (Collateralized Debt Obligations); and all the while the banks were purchasing credit default swaps to insure themselves against losses which they knew would occur. The bond traders, the upper management that knew this was occurring, the ratings agencies and the mortgage brokers who facilitated this fraud should be criminally prosecuted for having perpetrated the greatest RICO scam ever on America.

Further, as a result of this, people have been illegally forced out of their homes by phony documents created by banks, law firms working for them and the army of referees, court officials and judges who pushed through auctions depriving people of their homes. All of those along this food chain should be investigated and prosecuted for their role in this illegal nightmare.

4. Reversal of the recent Supreme Court decision conveying "personhood" upon corporations. By an act of Congress or, other expedient means, this corrupt decision must be reversed.

5. Severe limitation on the function of lobbyists and their ability to buy political action with cash, favors, and/or promises of future employment. And, the prohibition of CEO's, employees, Board members or anyone affiliated directly or indirectly with corporations from appointments in the government.

 
6. Congress to pass the "Buffet Rule" on fair taxation so the rich and corporations pay their fair share and close corporate tax loopholes 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 that the rich pay their fair share. (If we have a good negotiating position we could actually dial up taxes on millionaires, billionaires and corporations back to what they once were in the 50's and 60's).

7. Congress to pass "Revolving Door 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. So long as judges are culled from the ranks of corporate attorneys the 1% will retain control.

8. The regulation of the derivatives market, which is a casino of bets covered by “counterparties” in a $700 plus Trillion dollar Ponzi scheme that threatens the world’s financial system. This is directly responsible for the implosion of credit default swaps when millions of fraudulent loans defaulted at once.  It is the reason why we bailed out A.I.G. with hundreds of billions of dollars.

9. Jobs, not profits for Wall Street that eliminates jobs. Bring the jobs that have exported to other countries back to America. Prohibit corporations from sending jobs for Americans off to other countries. Re-establish Unions that truly represent the people in all corporations and require that negotiations maintain re-establishment of American products, in America, made by Americans.

10. Observe and implement Environmental and Conservation laws that have been passed and prohibit their rollback. Review the lobbyist effort to reduce their effectiveness, which are clearly only for the benefit of the corporations and are against the interests of the 99%.

 

 

Filed under: