Bernie Sanders -- Six Demands to Make of Wall Street

[Donnachaidh]

http://www.commondreams.org/view/2011/10/12-6

he Occupy Wall Street protests are shining a national spotlight on the most powerful, dangerous, and secretive economic and political force in America.

If this country is to break out of the horrendous recession and create the millions of jobs we desperately need, if we are going to create a modicum of financial stability for the future, there is no question but that the American people are going to have to take a very hard look at Wall Street and demand fundamental reforms. I hope these protests are the beginning of that process.

Let us never forget that as a result of the greed, recklessness, and illegal behavior on Wall Street, this country was plunged into the worst economic downturn since the Great Depression. Millions of Americans lost their jobs, homes, and life savings as the middle class underwent an unprecedented collapse. Sadly, despite all the suffering caused by Wall Street, there is no reason to believe that the major financial institutions have changed their ways, or that future financial disasters and bailouts will not happen again.

More than three years ago, Congress rewarded Wall Street with the biggest taxpayer bailout in the history of the world. Simultaneously but unknown to the American people at the time, the Federal Reserve provided an even larger bailout. The details of what the Fed did were kept secret until a provision in the Dodd-Frank Act that I sponsored required the Government Accountability Office to audit the Fed’s lending programs during the financial crisis.

More at the link --

[Democrats_win]

1. Bernie or Bust! These six ideas must be enacted!

1) If a financial institution is too big to fail, it is too big to exist.

2) Put a cap on credit card interest rates to end usury.

3) The Federal Reserve needs to provide small businesses in America with the same low-interest loans it gave to foreign banks.

4) Stop Wall Street oil speculators from artificially increasing gasoline and heating oil prices.

5) Demand that Wall Street invest in the job-creating productive economy, instead of gambling on worthless derivatives.

6) Establish a Wall Street speculation fee on credit default swaps, derivatives, stock options and futures.

The link in the op gives more details.

[OhioChick]

2. Rec n/t

[hifiguy]

3. Truly, Bernie is America's Senator

Every one of his six demands should be enacted into law ASAP.

[Quantess]

4. Kick & Rec for Bernie!