I spoke today on the Morning Meeting about the four steps the government could take to fix the U.S. banking system and stop the ongoing and expanding corruption of our country.
These simple solutions come from the litany of people that I speak with who seek to change the mega-casino our government has built during the past 10 years back to one built on investors, innovators and workers creating things that benefit society. Unfortunately, our current leaders want to take the easy road of sustaining the casino economy with what I like to call the Magic Money Machine. Except as with all magic, there’s actually a trick; in this case, it is a large bill that will be left to those of us unfortunate enough to still be around when it comes due. Here are the four pieces of regulation that taxpayers should be demanding from their leaders:
- Inject transparency, primarily to bring almost $600 trillion of crooked insurance scams to the forefront.
- Demand capital to back Wall Street’s gambling.
- Enact a tax-code to encourage long-term investment and discourage short-term profit.
- Break up the Too Big To Fail banking institutions.
Read the rest at the Huffington Post or watch the video below: