The May 2011 Most Wanted lists have been updated and are posted here! Please help us find these individuals so that their lost funds can be claimed!
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As Simon suggested, the anwesr is to bust up the largest institutions by separating investment from commercial banking. That would have helped us avoid much of the misery we\’ve already encountered. We need to ring-fence those assets of multinational, TBTF banks that we need to protect depositors and non-profit US creditors. After that, screw them and their creditors.Banks aren\’t going to get us out of this mess unless they start paying 100% interest on deposits and CDs, and we know that can\’t and won\’t happen. The only way out is a more equitable distribution of wealth because the spenders the middle class are tapped out after 30 years of believing that additional credit somehow was an acceptable substitute for a fair share of wealth. Unfortunately, during that 30 years, the institutions that assured the middle class its fair share of income (e.g. unions) were systematically undermined by the same folks who extended the credit and grabbed the percentage of wealth the middle class was losing. At this point, the so-called financial reforms of the past several years amounts to little more than rearranging the deck chairs, especially when the institutions responsible for implementing them (e.g. the Fed) have no interest in doing so.What to do? Deconstruct not destroy Big Finance and Big Banks to make them more responsible to the economy and society in which they operate. Strengthen vis a vis Big Finance the institutions that protect and advance the interests of the middle class. And until those efforts can be accomplished, institute a very progressive income taxation system on those who make the most. Oh yea, impose a 99% exit tax on those who try to move their wealth and genius to low-tax jurisdictions. Let them take their financial inventions (synthetic [fill in the blank]) to a casino elsewhere. But we keep the wealth that belongs to the U.S.Occupy that!