2016 Postmortem
Related: About this forumTalk is cheap and easy. It's critical that talk is backed up with real in-depth, comprehensive plans
Martin O'Malley ?@MartinOMalley 3h3 hours agovia @bettermarkets, OMalley details plan on Wall Street reform. All candidates should do the same. http://omly.us/1MqFuSZ
As Better Markets has said, nothing has done more damage in generations to hardworking middle class families, our economy and our government finances than the 2008 financial crash and the more than $20 trillion in economic wreckage it caused all across the country. Thats why all candidates Republicans and Democrats alike should release specific, in-depth and comprehensive plans for how theyre going to protect Main Street and rein in Wall Street to prevent another devastating financial crash.
Former Maryland Governor Martin O'Malley has led the way, releasing a comprehensive policy plan earlier this month aimed at preventing a repeat of the 2008 financial crash. At an event this week hosted by the Washington Policy Institute, Mr. OMalley continued laying out concrete plans on what he would do as President to protect Main Street from Wall Streets recklessness. As a nonpartisan organization, this should not be misconstrued as an endorsement of Mr. OMalleys plan, which has many good, strong and necessary provisions, although we dont agree with them all. It is, however, a fulsome endorsement of his actions in publicly proposing such a detailed plan.
Mr. OMalley talked with former Representative Brad Miller (D-NC) today about the Dodd-Frank financial reform law and the need for Wall Street reform, including a call to hold individuals on Wall Street accountable for their wrongdoing, saying, If you slap a bank robber on the wrist, hes going to keep robbing banks. The same is true if hes wearing a suit. As we like to say, there should be one standard of justice from the suites to the streets. Its a bedrock democratic principal: equal justice applied without fear or favor and that has to include the high and mighty on Wall Street.
Mr. OMalley also highlighted former FDIC chair Sheila Bairs latest must-read book The Bullies of Wall Street: This Is How Greed Messed Up Our Economy. Sheila knows what she is talking about: no one fought harder to protect the American people during that financial crisis than she did and her first book, Bull by the Horns, is a must read for anyone interested in understanding what happened during the 2008 financial crisis...
Voters of both parties support Wall Street reform. While many candidates running for President say they do as well, talk is cheap and easy. It is, therefore, critical that talk is backed up with real, in-depth, comprehensive and concrete policy proposals by all the Presidential candidates so that voters can hold them accountable when one of those candidates makes it to the White House. The American people support reform, and they deserve to know how every candidate is going to deliver it and prevent another Wall-Street caused financial crash.
read: http://www.bettermarkets.com/blog/gov-martin-omalley-details-plan-wall-street-reform-all-candidates-should-do-same
related:
Martin O'Malley's 10-Page Financial Plan: 'Protecting The American Dream From Another Wall St. Crash'
http://martinomalley.com/wp-content/uploads/2015/07/OMalley-Wall-Street-Reform.pdf
Martin O'Malley is the ONLY candidate to put out a detailed economic plan to deal with Wall Street excesses and abuses in this campaign.
...those strong words of his are backed up by a solid, detailed 10-page plan to 'Protect the American Dream From Another Wall St. Crash.' The plan proposes to:
Ensure Key Political Appointees Are Independent of Wall Street
Appoint to Key PositionsAttorney General, Assistant Attorney General for the Criminal Division, SEC ChairIndividuals Committed to Pursuing Criminal Cases.
Require the SEC Director of the Division of Enforcement to be a Presidential Appointee, Subject to Senate Confirmation
Institute a Three-Year Revolving Door Ban
Institute an Additional Three-Year Mandatory Disclosure Rule
Require the General Counsel at the Fed to be a Presidential Appointee
Require the President of the New York Fed to be a Presidential Appointee
Require the Board of Governors to Vote on All Major Decisions, Including Those Regarding Financial Reform
Immediately Double Funding for CFTC and SEC to Police Bad Behavior on Wall St. (Double CFTC Funding from $322 million to $644 million. Double SEC Funding from $1.7 billion to $3.4 billion.)
Create a Standalone Economic Crimes Division Within DOJ
Implement Points Accrual System to Crack Down on Recidivist Banks
End Days of Neither Admit Nor Deny. If an institution commits a major crime or violation of a law, they should be required to admit their guilt, so that they face the full ramifications of parallel civil and criminal proceedings
Require Transparency Around Use of Deferred Prosecution Agreements (DPAs) and Non Prosecution Agreements (NPAS).
Crack Down on SECs Use of Waivers By Requiring Public Votes, Statements on Them
Separate Risky Investment Banking from Ordinary Commercial Banking
Immediately Reinstate Glass-Steagall
End Too Big to Fail
Mandate Higher Capital Requirements for Big Banks
Implement a Financial Transaction Tax to Limit High-Frequency Trading
Create a Fiduciary Standard for Loan Brokers
daleanime
(17,796 posts)are just history.
bigtree
(86,013 posts)...these politicians need to commit to specifics which Americans can use to hold them accountable in office.
daleanime
(17,796 posts)or what they've done, doesn't that kind of leave us with nothing but 'trust'. We can't even seem to hold they accountable while running for office.
elleng
(131,262 posts)1StrongBlackMan
(31,849 posts)I fear that the M-O Man's campaign is suffering from classic liberalitis ... Which holds that logic, reasoning and reasonableness, can defeat NOISE!!!!
I hear you M-O Man!
bigtree
(86,013 posts)...accustomed to bending and swaying in the political winds?
1StrongBlackMan
(31,849 posts)Hush your mouth!
FSogol
(45,570 posts)bigtree
(86,013 posts)...harder to refute it.
bigtree
(86,013 posts)elleng
(131,262 posts)and there's a heckuva lot of it around these days.
Anyone interested in substance?
bigtree
(86,013 posts)...something to measure promises, performance?
I can see it now...
'I promised reform and you got it...What? Not the type of reform that will actually make a significant difference? Well, if you read what I promised in the campaign...'