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These are some ideas, some stolen from others, or old textbooks.
Stop socializing losses, and privatizing gains.
Companies that are too big to fail, are too big to exist.
The people who drove us into the ditch should be the ones to pay for the tow truck to pull us out.
For big banks / insurers that want to give bonuses for risky behavior, those bonuses should be tied to long term efforts. And they shouldn't be paid out until those risky ventures are completed, and paid back.
Regulate away "complex" financial products. CDO's and other innovative debt instruments that take junk rated bonds and magically create AAA rated investments only existed because of a lack of regulation that allowed financial wizards to work magic.
Get govt out of the confidence business; don't let banks and insurers do innovative things, and don't let the govt give the OK / approval of them. When people run honest businesses, they don't need to generate confidence. Ponzi schemes need confidence.
This disaster is a chance to dramatically change the system. Moving away from keeping the status quo, and to a more equitable society with universal healthcare and stronger unions will make life for 75% of America much more stable and calm. Good marriages are boring, and calm. Exciting marriages show up on Cops and Jerry Springer.
Main street life needs to get decoupled from Wall Street gyrations. Americans' retirement, healthcare, and job security shouldn't get decided by corporate Overlords in NYC, London, Dubai or Hong Kong. People should have anxiety about their business, not the financial wizards who get booked on CNBC and Faux Business News.
All these ideas need to get out, and let the Wizards and Wall Street whizzes need to have their say, but then it needs to be followed by someone pointing out the fact that these are the same idiots that drove Lehman Bros, AIG, Morgan Stanley, etc into the ditch.
Unions need more power. More people with more power over their own lives is good for America. We've followed the idea for 35 years that America needs to kill off unions, and give more power to Corporate Overlords. That is one of the reasons we're in the ditch today. Unions are a check on the power of corporations.
Ways to fix the banking mess
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Posted By: Phaedrus Posted on: Apr. 8, 2009 at 11:05 AM  15 Comments
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Based on 4 ratings.
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Apr. 9, 2009 at 08:15:45 PM
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| Stop socializing losses, and privatizing gains.
Now you’re crossing the line! That strikes at the heart of the Capitalist System as espoused by the NeoCon Fascists. |
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Apr. 9, 2009 at 08:19:02 PM
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| Oh look. Some fearless night stabber has given this article a single star, but no comment. But of course not – that would identify this champ. |
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Apr. 9, 2009 at 08:29:29 PM
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| Phake opines...... Unions need more power. More people with more power over their own lives is good for America. We've followed the idea for 35 years that America needs to kill off unions, and give more power to Corporate Overlords. That is one of the reasons we're in the ditch today. Unions are a check on the power of corporations. Now you certainly have enjoyed bad mouthing the U S Postal Service. We have one of the strongest unions in the country. Yet managements hands are virtually tied when it comes to terminating employees. I make more money than teachers, cops, EMT's etc Yet as June/Joan would say is all I do is walk down the street in my cute little shorts misdelivering the mail. How do you look at the state of the Postal Service and justify the need for more power to the worker? How do you argue for pay based on senoirity and not on performance? How is this going to make our workers more productive? How would you like it if you were compensated according to how long you had been doing your job rather than how well you do it? And I'm a shop steward bound by law to defend the rights of both dues paying members and scabs. I'm damn good at it too! Just woder if you've ever worked in a union shop or just been an observer? Love to hear your perspective. |
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Apr. 9, 2009 at 08:32:55 PM
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| As for socializing losses and privatizing gains thats exactly Government bailout plan is.The Government puts up the money and if the investment works out the private investors profit. Probaly the same ones who screwed it up in the first place. If not the Government eats it.....Brilliant plan.
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Apr. 9, 2009 at 08:59:56 PM
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[This is a reply to comment by AZ Moderate on Apr. 9, 2009 at 08:19:02 PM]
AZ Moderate
Apr. 9, 2009 at 08:19:02 PM Oh look. Some fearless night stabber has given this article a single star, but no comment. But of course not – that would identify this... View this Comment Looks like we flushed our single star champ out. |
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Apr. 9, 2009 at 09:03:03 PM
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[This is a reply to comment by postman on Apr. 9, 2009 at 08:29:29 PM]
postman
Apr. 9, 2009 at 08:29:29 PM Phake opines...... Unions need more power. More people with more power over their own lives is good for America. We've followed the idea for 35 years that America needs to kill off unions, and give more power to Corporate Overlords. That is one of... View this Comment Can supervisors be shop stewards? Hmmmm … |
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Apr. 10, 2009 at 05:59:38 AM
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And our five star asskissing troll! |
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Apr. 10, 2009 at 06:21:56 AM
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| Regulate away "complex" financial products. CDO's and other innovative debt instruments that take junk rated bonds and magically create AAA rated investments only existed because of a lack of regulation that allowed financial wizards to work magic. I dont see see that there is any reason to regulate 'away' these financial products. Those who commited FRAUD, should be heald ACCOUNTABLE. Geithners responsibility was to regulate these, and he FAILED, and was REWARDED amply for NOT REGULATING THEM. And NOW he is rewarded those who commited the FRAUD THIS IS WHAT NEEDS FIXING....
You have left out the MOST important concept NEEDED to fix the Banking System..... Remove the ability of politicians TO SELL GOVERNMENT and make the BUYING OF GOVERNMENT what it truely is - an act of TREASON...
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Apr. 10, 2009 at 08:51:36 AM
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| How do you argue for pay based on senoirity and not on performance? How is this going to make our workers more productive? +++ uh, so did you know that US workers productivity shot up from 2000 to 2008, and yet wages actually fell! Think about that, workers were more productive, and yet they were paid less. So, I guess you're arguing for a law to tie the minimum wage to productivity gains? How would you like it if you were compensated according to how long you had been doing your job rather than how well you do it? +++ Unions and employers can set up all kinds of agreements for compensation. The postal service sounds like theirs sucks. I know electricians who are IBEW and I doubt they're slackers, lazy or unproductive. A couple of them went on to open their own businesses, so they must have some drive. |
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Unions need more power. More people with more power over their own lives is good for America. We've followed the idea for 35 years that America needs to kill off unions, and give more power to Corporate Overlords. That is one of the reasons we're in the ditch today. Unions are a check on the power of corporations.
Amen, Brother. Amen!
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