O'Malley's plan to rein in financial system

[Andy823]

Last edited Fri Aug 28, 2015, 10:09 AM - Edit history (1)

"Governor O’Malley knows that the American Dream today remains out of reach for too many families. To attack this problem, it will take a multi-pronged and fearlessly progressive approach to addressing economic inequality. But the results of any steps we take as a nation to raise wages, ensure retirement security, and make the dream of homeownership a reality can be wiped out in an instant by another Wall Street crash.

We need to protect America’s economy. And we can only do it by implementing strong accountability and structural reforms that build upon the Dodd-Frank Act and put an end to too-big-to-fail, too-big-to-manage, and too-big-to-jail financial firms."

Read the whole plan here:

http://martinomalley.com/wp-content/uploads/2015/07/OMalley-Wall-Street-Reform.pdf

[elleng]

1. "build upon the Dodd-Frank Act and put an end to too-big-to-fail,

too-big-to-manage, and too-big-to-jail financial firms."

Heck YES!

[Andy823]

19. It's tiime

For real change in DC, and I know that I want someone who has a record of fixing things, and is willing to show how he plans to do it to anyone that wants to read those plans.

[lovemydog]

2. A very substantive plan, in writing.

K & R for O'Malleys specific plans to address wealth inequality and reign in Wall Street.

[elleng]

3. Yes, a very substantive plan.

Thanks for noticing.

[think]

4. Very impressive. So much to like in this policy paper. Bravo!

Breaking up too big to fail investment banks.

Independent appointees to SEC & DOJ. No more bankers watching over the bankers.

Financial transaction tax to limit high frequency trading.

3 year ban on revolving door.

Real penalties for financial crimes.

These are just a few of the things that really caught my eye.

It is great to see O'Malley putting forth solid policy positions that are designed to protect the American people from the ruthless & reckless behavior of the too big to fail banks and other predatory influences that exist within the financial institutions on Wall Street.

[elleng]

5. Glad you like it, think.

Hope others see it as such.

[Doctor_J]

6. spot on.

Mrs Clinton is looking less and less like a dem with each passing day.

[winter is coming]

7. I believe you meant to say "rein".

I don't usually harp on typos, but in this case, it really changes the meaning.

[Recursion]

11. Kind of amusingly

When I was a kid there was a hymn, "Behold a King shall reign in righteousness", but I always heard it as "rein in righteousness", which seemed like a weird thing to be singing about.

[winter is coming]

15. One of my friends thought "Bringing in the Sheaves" was "Bringing in the Cheese". n/t

[Andy823]

16. Thanks. nt

[Armstead]

8. Looks good

[brer cat]

9. That is a very comprehensive

and well thought-out plan. I especially like the financial transaction tax and Economic Crimes Division within DOJ.

[elleng]

10. Glad you like it, brer cat.

Yes, it's very comprehensive, as are most of Governor O'Malley's plans. You and others can find them here: https://martinomalley.com/

[Recursion]

12. Love it. I'd add USTR to the revolving door ban list.

Making the NY Fed Governor appointed would be ground-shaking.

Requiring an admission of guilt on settlements would also be a great move and would increase the threat of civil actions.

This is the only realistic concrete plan I've seen to break up big banks.

And the fiduciary standard for all loan brokers would be amazing.

[Jamaal510]

13. K&R

[FSogol]

14. Another great plan. K&R. n/t

[Andy823]

17. Back to the top.

This is a major issue, and O'Malley has done a great job in telling people how he will fix it.

[JustAnotherGen]

18. Kick it up!